By Murray F. Foss, Marilyn E. Manser, Allan H. Young
Half of the papers concentrate on costs for mainframe and private desktops, semiconductors, and different high-tech items, utilizing commonly hedonic ideas. the quantity contains a panel dialogue by means of amazing economists in regards to the theoretical and sensible concerns of ways top to degree cost switch of capital items whose caliber is altering speedily. The authors additionally current new examine on extra traditional yet nonetheless unsettled difficulties within the expense box affecting either the patron and manufacturer cost indexes of the Bureau of work Statistics.
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Extra resources for Price Measurements and Their Uses (National Bureau of Economic Research Studies in Income and Wealth)
Example text
One such measure is the rate of depreciation that controls for differences across models in the embodied characteristics z. This measure equals the sum of the second and third terms on the right-hand side of equation (2). An even narrower concept of age-related price change is simply the partial derivative of price with respect to 7, the second term on the right-hand side of the equation. 6 below explores the appropriate choice among these alternative measures. 24 Stephen D. 2 The Econometric Model The previous section identified the variables that affect the price of IBM mainframe computers.
First, I iQferred the number of units shipped annually for each model using the IDC data on installed stocks. Next, I determined the nominal value of these shipments by multiplying the units shipped by a measure of average price. For the models in the 370 and 30XX families, this price measure was the average of IBM’s list price for units with maximum memory size and units with minimum memory size, as shown in Dulberger’s (1989) data base. For the 360 models, I obtained the same information from Phister (1974, 342-47).
85 in each age group. Column 1, therefore, points to widespread discounting after a model has been available for about one year. Column 2 restricts the sample to 1972-84, the period covered by Dulberger (1989), with little change in the results. In both columns, the calculated price ratio becomes so small for models aged sixteen to nineteen quarters as to raise questions about the quality of the data. One possible explanation is that the ratios are distorted by the inadvertent use of list prices from the Guide for models no longer in production, owing to difficulties in determining exactly when IBM stopped shipping a given model on the basis of publicly available data.