| Imputation and Price Indexes: Theory and Evidence from the International Price Program Contributor(s): Feenstra, Robert C. (Author), Diewert, Erwin W. (Author), Us Bureau of Labor Statistics (Bls) (Created by) |
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ISBN: 1249263735 ISBN-13: 9781249263739 Publisher: Bibliogov OUR PRICE: $16.86 Product Type: Paperback - Other Formats Published: August 2012 |
| Additional Information |
| BISAC Categories: - Political Science |
| Physical Information: 0.13" H x 7.44" W x 9.69" (0.29 lbs) 64 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: The goal of this paper is to theoretically and empirically demonstrate the consequences of different imputation methods using recent data from the International Price Program. We suppose that prices are missing due to random or erratic reporting. We consider three different imputation methods: carry-forward, which just assumes that the missing price is the same as in the previous period; cell-mean, which imputes the missing price using either the short-term or long-term index for related commodities; and linear interpolation, which uses the last and next observations for the item to linearly interpolate. Certain hybrid techniques, combining either carry-forward or cell-mean with linear interpolation, are also considered. |