Research on the improvement of CPI basic classification index compilation method in digital economy
Zhixiu Du, Jinzhu Du
TL;DR
This paper improves the CPI index compilation method for digital economy products by addressing mismatched items and product substitution elasticity using a new price index model.
Contribution
A novel Hedonic-SV-RYGEKS price index model is proposed to handle product mismatches and chain drift in ICT price index compilation.
Findings
The Hedonic quality adjustment model effectively fits mismatched product prices based on characteristic variables.
The Hedonic-SV-RYGEKS model reduces sample incomparability and chain drift in rapidly updating ICT products.
The model's chain ring price index outperforms fixed base price index in capturing product substitution elasticity.
Abstract
Information and communication technology (ICT) products are the core of the digital economy, and their classified price index plays an important role in the compilation of CPI index. This paper starts from the characteristics of ICT products that have a fast update rate and do not necessarily meet the unit substitution elasticity between products, and improves the traditional product price index model by considering the mismatch item processing and product substitution elasticity and chain drift factors to construct the Hedonic-SV-RYGEKS price index model in this paper. Using the weekly data of Jingdong mobile phone price on whale staff platform and the monthly data of notebook computer on magic mirror insight platform, after processing, a total of 1586 sets of mobile phone data and 136 sets of notebook computer data are obtained. By writing SPSS macro program and python program, the…
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Taxonomy
TopicsConsumer Market Behavior and Pricing · Innovation Diffusion and Forecasting · Global trade and economics