Replication data for: Product Turnover and the Cost-of-Living Index: Quality versus Fashion Effects

Principal Investigator(s): View help for Principal Investigator(s) Kozo Ueda; Kota Watanabe; Tsutomu Watanabe

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Project Citation:

Ueda, Kozo, Watanabe, Kota, and Watanabe, Tsutomu. Replication data for: Product Turnover and the Cost-of-Living Index: Quality versus Fashion Effects. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114151V1

Project Description

Summary: 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.

Scope of Project

JEL Classification:
      C43 Index Numbers and Aggregation; Leading indicators
      E31 Price Level; Inflation; Deflation
      L11 Production, Pricing, and Market Structure; Size Distribution of Firms
      L15 Information and Product Quality; Standardization and Compatibility
      L81 Retail and Wholesale Trade; e-Commerce

Geographic Coverage: Japan

Time Period(s): 3/1988 – 10/2013

Data Type(s): text; program source code

Methodology

Data Source: Nikkei Inc.

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Published Versions

V1 [2019-10-12]

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