Product Turnover and the Cost-of-Living Index: Quality versus Fashion Effects

被引：3

作者：

Ueda, Kozo ^{[1
]}

Watanabe, Kota ^{[2
,3
]}

Watanabe, Tsutomu ^{[4
]}

机构：

[1] Waseda Univ, Shinjuku Ku, 1-6-9 Nishi Waseda, Tokyo 1698050, Japan

[2] Canon Inst Global Studies, Chiyoda Ku, 11th Floor,ShinMarunouchi Bldg 5-1 Marunouchi 1, Tokyo 1006511, Japan

[3] Univ Tokyo, Chiyoda Ku, 11th Floor,ShinMarunouchi Bldg 5-1 Marunouchi 1, Tokyo 1006511, Japan

[4] Univ Tokyo, Bunkyo Ku, 7-3-1 Hongo, Tokyo 1138654, Japan

来源：

AMERICAN ECONOMIC JOURNAL-MACROECONOMICS | 2019年 / 11卷 / 02期

关键词：

PRICES; MATTER;

D O I：

10.1257/mac.20160403

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper evaluates the effects of product turnover on a welfare-based cost-of-living index by incorporating the quality effect and the fashion effect. Employing scanner data for Japan for the years 1988-2013, we find that (i) the price and quantity of a new product tend to be higher than those of its predecessor at its exit; (ii) a considerable fashion effect exists for the entire sample period, while the quality effect is declining over time; and (iii) the discrepancy between the cost-of-living index estimated based on our methodology and the price index constructed only from a matched sample is not large.

引用

页码：310 / 347

页数：38

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