Replication data for: An Experimental Component Index for the CPI: From Annual Computer Data to Monthly Data on Other Goods

Tim Erickson & Ariel Pakes
The CPI component indices are obtained from comparing price quotes at a given store in different periods. If we omit comparisons from goods in the store in the initial, but not in the comparison, period we generate a selection bias: goods that exit are disproportionately obsolete goods that have falling prices. Building on Pakes (2003), we explain why standard hedonic predictions for second-period prices of exiting goods do not account for this bias. New hedonic...
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