Measuring Quality Growth and Studying Stockout Behavior Using Micro CPI Data

本研究利用消费者物价指数（CPI）的微观数据，研究两个问题-消费品的质量改进和企业的边际成本和价格的运动，由于暂时的产品缺货的市场波动。研究的第一部分研究了消费者价格通胀和质量增长的敏感性，以处理与耐用消费品新模式的引入相关的价格上涨。可以利用BLS的回归方法来获得关于销售量如何随着模型周转而变化的信息。然后，这些信息被用来衡量新产品价格上涨中有多少应归因于质量改进。研究的第二部分表明，临时产品缺货的信息，如何提供更直接的信息，企业的成本和价格在市场周期的行为比现有的方法。与成品库存数据相比，缺货数据可用于范围更广、分类更细的商品。这项研究表明，价格加价可以归因于价格粘性或卖方的主动价格调整。这项研究的结果具有重要的政策意义。在质量改进和消费者价格通货膨胀之间打破价格上涨的能力是收集价格信息目标的核心。这些结果可以直接为用于判断生活水平变化的价格上涨衡量提供信息。研究结果可以为BLS方法的修订或BLS可以提供的其他统计数据提供建议。研究结果也可能对如何衡量通货膨胀产生影响。 这可能会影响工资合同、社会保障支付、保险以及最终通货膨胀率本身的生活成本调整的确定。

This research exploits confidential Consumer Price Index (CPI) micro data, to study two issues---quality improvements for consumer goods and movements in firms' marginal costs and price markups due to temporary product stockouts over market fluctuations. The first part of the research studies the sensitivity of consumer price inflation and, quality growth, to treatment of the price increases associated with the introduction of new models of consumer durables. The BLS' resampling method can be exploited to gain information on how quantities sold change with model turnovers. This information is then used to gauge how much of price increases for new goods should be attributed to quality improvements. The second part of the research shows how information on temporary product stockouts, provide more direct information on how firms' cost and prices behave over the market cycle than existing methods. The stockout data are available for a much wider and more disaggregate set of goods than data on finished inventories. The research shows how price markups can either be attributed to price stickiness or active price adjustments by sellers. Results of this research have important policy implications. The ability to break price increases between quality improvements and consumer price inflation is central to the goals of collecting information on prices. The results can directly inform measurement of price increases used to judge changes in standards of living. The results can yield suggestions for revisions of BLS methods or suggestions for additional statistics the BLS could make available. The results of the research could also have an effect on how inflation should be measured. This could affect the determination of cost living adjustments in wage contracts, social security payments, insurance, and ultimately the rate of inflation itself.