Product turnover and the cost-of-living index: Quality versus fashion effects

Kozo Ueda, Kota Watanabe, Tsutomu Watanabe

研究成果: Article査読

2 被引用数 (Scopus)

抄録

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.

本文言語English
ページ(範囲)310-347
ページ数38
ジャーナルAmerican Economic Journal: Macroeconomics
11
2
DOI
出版ステータスPublished - 2019

ASJC Scopus subject areas

  • 経済学、計量経済学および金融学(全般)

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