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EXPLICIT QUALITY ADJUSTMENT

Statistics Directorate    
Definition:
A direct estimate of how much of the change in the price of a product is due to changes in its physical or economic characteristics. It requires an evaluation of the contributions of the differences in particular characteristics to the differences in the observed prices of two products. It includes quality adjustments based on hedonic methods.

Source Publication:
ILO, IMF, OECD, Eurostat, UNECE, World Bank, 2004, Consumer Price Index Manual: Theory and Practice, International Labour Office, Geneva.

Cross References:
Implicit quality adjustment
Quality adjustment

Hyperlink:
http://www.ilo.org/public/english/bureau/stat/guides/cpi/index.htm

Statistical Theme: Prices and purchasing power partities

Created on Thursday, February 20, 2003

Last updated on Monday, July 11, 2005