Price Imputation and Other Techniques for Dealing with Missing Observations, Seasonality and Quality Change in Price Indices

Author/Editor:

Paul A. Armknecht ; Fenella Maitland-Smith

Publication Date:

June 1, 1999

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Price index compilers frequently face situations where price observations are missing due to seasonal unavailability, supply shortages, or the discontinuation of products. Incorrect treatment of such situations can result in biased price indices. This paper presents statistical imputation techniques that index compilers can use to prevent bias and suggests the extension of these same techniques to assist with adjustments for quality differences. The use of additional procedures for dealing with some of the problems caused by seasonal commodities is also discussed.

Series:

Working Paper No. 99/78

English

Publication Date:

June 1, 1999

ISBN/ISSN:

9781451850086/1018-5941

Stock No:

WPIEA0781999

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

28

Please address any questions about this title to publications@imf.org