Final Program
February 6, 2005 version

SSHRC International Conference on Index Number Theory and the Measurement of Prices and Productivity

Fairmont Waterfront Hotel, Vancouver, June 30 - July 3, 2004

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Tuesday June 29, 2004

RECEPTION 5:30-10:00 Princess Louisa Suite (2nd floor) Soft drinks, all-evening light buffet supper, cash bar

June 30-July 3, 2004

This conference is being funded in part by a grant from the Social Sciences and Humanities Research Council of Canada (SSHRC) to Alice Nakamura and Erwin Diewert as an approved part of their Rethinking Productivity Strategic Grant project.

The University of Alberta and the University of British Columbia, Finance Canada, Industry Canada and Statistics Canada, as well as the Centre for Efficiency and Productivity Analysis of the University of Queensland in Australia, and Meyrick and Associates, also based in Australia, have also helped with the funding of this conference.

Wednesday, JUNE 30

THE BEGINNING 8:45-9:00 Erwin Diewert, University of British Columbia

SESSION 1: Topics in Index Number and Measurement Theory Chair: Alice Nakamura, University of Alberta

Paper 1: 9:00-9:45 Erwin Diewert, University of British Columbia, "Index Number Theory: Past Progress and Future Challenges"

Paper 2: 9:45-10:30 Bert Balk, Statistics Netherlands and Erasmus University Rotterdam, “Direct and Chained Indices: A Review of Two Paradigms”

COFFEE 10:30-11:00

SESSION 2: Quality Change and Hedonic Regression Methods I Chair: Charles Hulten, University of Maryland

Paper 3: 11:00-11:30 Jack Triplett, Brookings Institution, “When Do Hedonic and Matched Model Indexes Give Different Results? And Why?”, Background: Chapter III, Chapter VII, Discussant: Mick Silver, Cardiff Business School

Paper 4: 11:30-12:00 Jan de Haan, Statistics Netherlands, “Estimating Quality-Adjusted Unit Value Indexes: Evidence from Scanner Data”, Discussant: Ted To, Bureau of Labor Statistics

LUNCH 12:30-1:30

Luncheon Speech: Paul Armknecht, IMF, Erwin Diewert, University of British Columbia and Mick Silver, Cardiff University, “The New Price Index Manuals”

SESSION 3: Measuring Changes in the Cost of Living and in Wellbeing Chair: Kevin Fox, University of New South Wales

Paper 5: 1:30-2:15 Paul Haschka, Statistics Austria and Eurostat, “The Application of the Concept of Basic Purpose for Sampling, Replacement, Quality Adjustment and Aggregation”, Discussant: Jack Triplett, The Brookings Institution

Paper 6: 2:15-3:00 Edward N. Wolff, New York University, Ajit Zacharias, Levy Economics Institute, and Asena Caner, Levy Economics Institute, “Household Wealth, Public Consumption and Economic Well-Being in the United States”, Discussant: John Greenlees, US Bureau of Labor Statistics

SESSION 4: The Measurement of Output, Input and Productivity I Chair: Bert Balk, Statistics Netherlands and Erasmus University Rotterdam

Paper 7: 1:30-2:15 Emi Nakamura, Harvard University, “Demand Shocks and Real GDP Measurement”, Background, Discussant: Susanto Basu, Harvard University

Paper 8: 2:15-3:00 Paul Schreyer, OECD, “Measuring Multi-Factor Productivity when Rates of Return Are Exogenous”, Discussant: Erwin Diewert, University of British Columbia

COFFEE 3:00-3:30

SESSION 5: New Developments in Consumer Price Index Theory Chair: John Greenlees, US Bureau of Labor Statistics

Paper 9: 3:30-4:15 Laura Blow and Ian Crawford, Institute for Fiscal Studies, UK, and Martin Browning, Institute of Economics, Copenhagen University, “Nonparametric Methods for the Consumer Characteristics Model”, Discussant: Jan de Haan, Statistics Netherlands

Paper 10: 4:15-5:00 Spencer Banzhaf, Resources for the Future, “Green Price Indices”, Discussant: Robert Hill, University of New South Wales

Paper 11: 5:00-5:45 Breige Allan-Greer, D.S. Prasada Rao and Chris O’Donnel, University of Queensland, “Constructing Divisia Indexes from Retail Scanner Data using Wavelet Methods”, Discussant: Bert Balk, Statistics Netherlands and Erasmus University Rotterdam

SESSION 6: Difficult to Measure Outputs I Chair: Dennis Fixler, US Bureau of Economic Analysis

Paper 12: 3:30-4:15 Carol Corrado, Wendy Dunn, and Maria Otoo, Board of Governors of the Federal Reserve, “Incentives and Prices for Motor Vehicles: What has been Happening in Recent Years?”, Discussant: Jan van Dalen, Erasmus University Rotterdam

Paper 13: 4:15-5:00 David Paton, Nottingham University Business School, Donald Siegel, Rensselaer Polytechnic Institute and Leighton Vaughan Williams, Nottingham Trent University, “Productivity Measurement in a Service Industry: Plant-Level Evidence from Gambling Establishments in the United Kingdom”, Discussant: Kam Yu, Lakehead University

Paper 14: 5:00-5:45 Tarek Harchaoui and Faouzi Tarkhani, Statistics Canada, “Integrating Natural Capital in the Canadian Productivity Accounts”, Discussant: Denis Lawrence, Meyrick and Associates, Australia

DINNER 6:30-9:30 The Princess Louisa Suite, Waterfront Hotel, level 2 (pre-paid special ticket required for those not on the CRIW/SSHRC programs; not included in conference fee)

Dinner Speech: Andrew Sharpe, Center for the Study of Living Standards, Ottawa, “Ten Productivity Puzzles Facing Researchers”

Thursday, JULY 1

SESSION 7: Quality Change and Hedonic Regression Methods II Chair: Erwin Diewert, University of British Columbia

Paper 15: 9:00-9:30 Teague Ruder, Ted To, US Bureau of Labor Statistics, and Mick Silver, Cardiff University, “Quantity versus Quality of Characteristic Data in Hedonic Regressions”, Discussant: Peter Hein van Mulligen, Statistics Netherlands

Paper 16: 9:30-10:00 Daniel Melser, University of New South Wales, “The Hedonic Regression Time-Dummy Method and the Monotonicity Axioms”, Discussant: Ludwig von Auer, Otto-von-Guericke-Universitaet Magdeburg

Paper 17: 10:00-10:30 Jan van Dalen and Ben Bode, Erasmus University Rotterdam, “Estimation Biases in Quality-Adjusted Hedonic Price Indices”, Discussant: Mick Silver, Cardiff Business School

COFFEE 10:30-11:00

SESSION 8: Difficult to Measure Outputs II Chair: Kevin Fox, University of New South Wales

Paper 18: 11:00-11:30 Denis Lawrence, Meyrick and Associates, Australia and Erwin Diewert, University of British Columbia, “Measuring Output and Productivity in Electricity Networks”, Discussant: Tarek Harchaoui, Statistics Canada

Paper 19: 11:30-12:00 Leonard Nakamura, Federal Reserve Bank of Philadelphia, “Advertising, Intangible Assets and Unpriced Entertainment”, Notes, Discussant: Frank Wykoff, Pomona College

Paper 20: 12:00-12:30 Jack E. Triplett and Barry P. Bosworth, Brookings Institution, “Price, Output, and Productivity of Insurance: Conceptual Issues”, Discussant: Dennis Fixler, US Bureau of Economic Analysis

LUNCH 12:30-1:30

Luncheon Speech: George Beelen, Statistics Canada, "Improving Business Services Price Indexes in Canada"

SESSION 9: Quality Change and Hedonic Regression Methods III Chair: Alice Nakamura, University of Alberta

Paper 21: 1:30-2:15 Daniel Melser, University of New South Wales, “Accounting for the Effects of New and Disappearing Goods Using Scanner Data”, Discussant: Bert Balk, Statistics Netherlands and Erasmus University Rotterdam

Paper 22: 2:15-3:00, Adrian Ball and David Fenwick, the Office of National Statistics, UK: "Static Samples in a Dynamic Universe: The Potential Use of Scanner Data and Hedonic Regression in the Compilation of Consumer Price Indices", Discussant: Jörgen Dalén, Consultant for Eurostat and Statistics Sweden

SESSION 10: Price Indexes for Internationally Traded Goods and Services Chair: Ulrich Kohli, Swiss National Bank

Paper 23: 1:30-2:15 Erwin Diewert, University of British Columbia, William Alterman, US Bureau of Labor Statistics and Lorraine Eden, Texas A&M University, “Transfer Prices and Import and Export Price Indexes: Theory and Practice”, Discussant: Kim Zieschang, International Monetary Fund

Paper 24: 2:15-3:00 Catherine L. Mann, Institute for International Economics, “Prices for International Services Transactions Issues and a Framework for Development”, Discussant: Dennis Fixler, US Bureau of Economic Analysis

COFFEE 3:00-3:30

SESSION 11: Quality Change and Hedonic Regression Methods IV Chair: Mick Silver, Cardiff Business School

Paper 25: 3:30-4:15 Teague Ruder and Ted To, US Bureau of Labor Statistics, “Brand Dummy Variables in Hedonic Regressions:A Study Using Stereo Receiver Scanner Data”, Discussant: Carol Corrado, Board of Governors of the US Federal Reserve

Paper 26: 4:15-5:00 Jörgen Dalén, Consultant for Eurostat and Statistics Sweden and Ulrika Ingelsson, Statistics Sweden, “Measuring Price Changes for Books Based on Hedonic Models”, Discussant: David Johnson, Bureau of Labor Statistics

Paper 27: 5:00-5:45 Ludwig von Auer, Otto-von-Guericke-Universitaet Magdeburg, “Hedonic Price Measurement: The CCC Method”, Discussant: Daniel Melser, University of New South Wales

SESSION 12: The Measurement of Contributions to Productivity Growth I Chair: Bert Balk, Statistics Netherlands and Erasmus University Rotterdam

Paper 28: 3:30-4:15 Robert Yuskavage and Marshall Reinsdorf, US Bureau of Economic Analysis, “Exact Industry Contributions to Labor Productivity Change”, Discussant: Erwin Diewert, University of British Columbia

Paper 29: 4:15-5:00 Ulrich Kohli, Swiss National Bank, “Labor Productivity: Average vs. Marginal”, Discussant: Marshall Reinsdorf, US Bureau of Economic Analysis

Paper 30: 5:00-5:45 Denis Lawrence, Meyrick and Associates, Australia, Erwin Diewert, University of British Columbia and Kevin Fox, University of New South Wales, “The Contributions of Productivity, Price Changes and Firm Size to Profitability”, Discussant: Paul Schreyer, OECD

DINNER 6:30-11:30 Evening event at Grouse Mountain hosted, as a private party, by Alice, Emi and Masao Nakamura (pre-paid special ticket required for those not on the CRIW/SSHRC programs; this event is not included in the conferences fee)

Friday, JULY 2

SESSION 13: Inter Area and Cross Country Comparisons of Prices I Chair: Alan Heston, University of Maryland

Paper 31: 9:00-9:30 Bettina Aten and Ana Aizcorbe, US Bureau of Economic Analysis, “An Approach to Pooled Time and Space Comparisons”, Discussant: Robert Hill, University of New South Wales

Paper 32: 9:30-10:00 D.S. Prasada Rao, University of Queensland, “The Country-Product-Dummy Method: A Stochastic Approach to the Computation of Purchasing Power Parities in the ICP”, Discussant: Mick Silver, Cardiff Business School

Paper 33: 10:00-10:30 Keir Armstrong, Carleton University, “Hyperextended-Real-Valued Indexes of Absolute Dissimilarity”, Discussant: D.S. Prasada Rao, University of Queensland

10:30-11:00 COFFEE

SESSION 14: Problems in the Measurement of Housing Services and Prices I Chair: Kevin Fox, University of New South Wales

Paper 34: 11:00-11:30 Alan Heston, University of Maryland, “Spatial Comparisons of Costs of Housing Services”, Discussant: Johannes Hoffmann, Deutsche Bundesbank

Paper 35: 11:30-12:00 Theodore M. Crone, Federal Reserve Bank of Philadelphia, Leonard I. Nakamura, Federal Reserve Bank of Philadelphia and Richard Voith, Econsult, “Hedonic Estimates of the Cost of Housing Services: Rental and Owner-Occupied Units”, Discussant: Erwin Diewert, University of British Columbia

Paper 36: 12:00-12:30 Claudia Kurz and Johannes Hoffmann, Deutsche Bundesbank, “A Rental-Equivalence Index for Owner-Occupied Housing in West Germany, 1985 to 1998”, Discussant: Richard Voith, Econsult

LUNCH 12:30-1:30

Luncheon Speech: Steve Landefeld, Bureau of Economic Analysis, “Updating Concepts and Methods for Index Numbers, Prices, and Productivity: How Are We Doing?”

SESSION 15: Inter Area and Cross Country Comparisons of Prices II Chair: Ulrich Kohli, Swiss National Bank

Paper 37: 1:30-2:15 Robert Hill, University of New South Wales, “Constructing Price Indexes Across Space and Time: the Case of the European Union”, Discussant: Bettina Aten, Bureau of Economic Analysis

Paper 38: 2:15-3:00 Silke Stapel, Eurostat, “Challenging the “Snapshot Theory” of Purchasing Power Parities: Eurostat’s Revision of the PPP 1995 to 2000”, Discussant: Alan Heston, University of Maryland

SESSION 16: Issues in the Measurement of Capital and Depreciation Chair: Erwin Diewert, University of British Columbia

Paper 39: 1:30-2:15 Frank Wykoff, Pomona College, “Obsolescence vs. Deterioration with Embodied Technological Change”, Discussant: Charles Hulten, University of Maryland

Paper 40: 2:15-3:00 Mark Tanguay, Statistics Canada, “Linking Fix Capital Capacity and Economic Depreciation: A Joint Density Approach”, Discussant: Jack Triplett, Brookings Institution

COFFEE 3:00-3:30

SESSION 17: Problems in the Measurement of Housing Services and Prices II Chair: John Greenlees, US Bureau of Labor Statistics

Paper 41: 3:30-4:15 Randall Verbrugge, US Bureau of Labor Statistics, “The Puzzling Divergence of Aggregate Rents and User Costs, 1978-2001”, Discussant: Leonard I. Nakamura, Federal Reserve Bank of Philadelphia, Slides

Paper 42: 4:15-5:00 Arnold Katz, US Bureau of Economic Analysis, “Estimating Dwelling Services in the Candidate Countries: Theoretical and Practical Considerations in Developing Methodologies Based on the User Cost of Capital Measure”, Discussant: Kim Zieschang, International Monetary Fund

Paper 43: 5:00-5:45 Tarek Harchaoui, Statistics Canada and Faouzi Tarkhani, Statistics Canada, “Accounting for Consumers’ Durables and Housing in the Canadian Productivity Accounts”, Discussant: Spencer Banzhaf, Resources for the Future

SESSION 18: The Measurement of Output, Input and Productivity II Chair: Kevin Fox, University of New South Wales

Paper 44: 3:30-4:15 Robert G. Chambers, University of Maryland and University of Western Australia, “Productivity Measurement under Uncertainty”, Discussant: Rolf Färe, Oregon State University

Paper 45: 4:15-5:00 Soren Arnberg, AKF, Copenhagen and Ian Crawford, Institute for Fiscal Studies, “An Axiomatic Approach to the Measurement of Productivity”, Discussant: Bert Balk, Statistics Netherlands and Erasmus University Rotterdam

Paper 46: 5:00-5:45 Ulrich Kohli, Swiss National Bank, “Inexact Index Numbers and Economic Monotonicity Violations: The GDP Implicit Price Deflator”, Discussant: Ludwig von Auer, Otto-von-Guericke-Universitaet Magdeburg

DINNER 6:30-11:30 Evening costal cruise, dinner, reception and dance hosted as a private party by Christina Wang and Susanto Basu (pre-paid special ticket required for those not on the CRIW/SSHRC programs; this event is not included in the conferences fee)

Saturday, JULY 3

SESSION 19: The Measurement of Knowledge Capital and the Effects of New Technologies Chair: B. K. Atrostic, US Census Bureau

Paper 47: 9:00-9:45 John Baldwin, Desmond Beckstead, Guy Gellatly, Statistics Canada, “Canada's Expenditure on Knowledge Capital”, Discussant: Barbara Fraumeni, US Bureau of Economic Analysis

Paper 48: 9:45-10:30 Jeffrey I. Bernstein, Carleton University and Theofanis P. Mamuneas, University of Leicester, “R&D Depreciation, Stocks, User Costs, and Productivity Growth for U.S. Knowledge Intensive Industries”, Discussant: Emi Nakamura, Harvard University

SESSION 20: Seasonal Adjustment and Price Indexes I Chair: Erwin Diewert, University of British Columbia

Paper 49: 9:00-9:45 Andrew Baldwin, Statistics Canada, “The Redesign of the Canadian Farm Product Price Index”, Discussant: Bert Balk, Statistics Netherlands and Erasmus University Rotterdam

Paper 50: 9:45-10:30 Peter Hein van Mulligen and May Hua Oei, Statistics Netherlands, “The Use of Scanner Data in the CPI: A Curse in Disguise?”, Discussant: Yoel Finkel, Central Bureau of Statistics, Israel

COFFEE 10:30-11:00

SESSION 21: Seasonal Adjustment and Price Indexes II and the Receipts Approach Chair: Erwin Diewert, University of British Columbia

Paper 51: 11:00-11:45 W. Erwin Diewert, University of British Columbia, Yoel Finkel and Yevgeny Artsev, Central Bureau of Statistics, Israel, “On the Treatment of Seasonal Commodities in CPI: The Israeli Experience”, Discussant: Peter Hein van Mulligen, Statistics Netherlands

Paper 52: 11:45-12:30 Rosmundur Gudnason, Statistics Iceland, “The Receipts Approach to the Collection of Household Expenditure Data”, Discussant: David Fenwick, Office of National Statistics, UK

SESSION 22: The Measurement of Output, Input and Productivity III Chair: Bert Balk, Statistics Netherlands and Erasmus University Rotterdam

Paper 53: 11:00-11:45 Baoline Chen and Peter A. Zadrozny, US Bureau of Labor Statistics, “Computing Total Factor Productivity without Substitution Bias”, Discussant: D.S. Prasada Rao, University of Queensland

Paper 54: 11:45-12:30 Andrew Baldwin, Statistics Canada, “Chain Price and Volume Aggregates for the
System of National Accounts
”, Discussant: Marshall Reinsdorf, US Bureau of Economic Analysis

LUNCH: 12:30-1:30

SESSION 23: Canadian and US Productivity Growth Chair: Kevin Fox, University of New South Wales

Paper 55: 1:30-2:00 Mun S. Ho, Someshwar Rao and Jianmin Tang, Industry Canada, “Measuring the Contribution of Information and Communication Technologies to Productivity Growth”, Discussant: Alice Nakamura, University of Alberta

Paper 56: 2:00-2:30 John Baldwin, Statistics Canada, “Canada US Comparisons of Productivity Levels: Estimation Issues”, Discussant: Rolf Färe, Oregon State University

COFFEE 2:30-3:00

SESSION 24: The Measurement of Contributions to Productivity Growth II Chair: Dennis Fixler, US Bureau of Economic Analysis

Paper 57: 3:00-3:30 Erwin Diewert, University of British Columbia and Kevin J. Fox, University of New South Wales, “On the Estimation of Returns to Scale, Technical Progress and Monopolistic Markups”, Discussant: Susanto Basu, Harvard University and the University of Michigan

Paper 58: 3:30-4:00 Erwin Diewert, University of British Columbia, Alice Nakamura, University of Alberta, Emi Nakamura, Harvard University, and Masao Nakamura, University of British Columbia, “Measuring the Price and Quantity of Labor: Theory and Practice in Canada, Japan and the United States”, Discussant: Ernst Berndt, Massachusetts Institute of Technology

Paper 59: 4:00-4:30 B.K. Atrostic and Sang Nguyen, US Census Bureau, “How Businesses Use Information Technology: Insights for Measuring Capital and Productivity”, Discussant: Ian Mead, Bureau of Economic Analysis

DINNER 6:30-12:00 Dinner and party in the Cypress Room of the Pan Pacific Hotel (directly across from the conference hotel), beginning with a reception, followed by dinner from about 7:30 and then drinks, dancing for those who'd enjoy that, and a relaxed atmosphere for sitting and chatting on this final night. All conference participants and their partners are welcome. This evening is hosted as a private party by Frank and Jane Wykoff.

Master of Ceremonies for the Evening: Jeff Bernstein, Carlton University

THE END 4:30-4:45 Alice Nakamura, University of Alberta

Notes to authors and discussants

With the exception of the first session, all non parallel sessions are one hour in duration, with a half hour allocated per paper. For these non parallel sessions, authors will get 15 minutes to present the highlights of their results, the discussants will get 5 minutes to either point out what they see as the major problems with the paper or if there are no major problems, then they can give an indication of where future generalizations or extensions of the paper may lie. This leaves 10 minutes for discussion from the floor.

For the parallel sessions, authors will get 25 minutes to present the highlights of their results, the discussants will get 5 minutes to either point out what they see as the major problems or if there are no major problems, then they can give an indication of where future generalizations or extensions of the paper may lie. This leaves 15 minutes for discussion from the floor.

However, discussants may (if they wish) provide more extensive written comments on the papers that they discuss. These will be posted on the conference website: http://www.ipeer.ca/conferences.htm. The program committee wishes to apologize to authors and discussants for limiting their time so drastically but we did not expect so many submissions; we were expecting perhaps 40 submissions at the most but we received over 125.

Authors must submit their paper to Erwin Diewert (diewert@econ.ubc.ca) by June 1, 2004 in a PDF or Word file, and also to Alice Nakamura (alice.nakamura@ualberta.ca) so that it can be posted on the conference website and so that discussants will have a chance to prepare their comments in advance. Copies of the conference papers will be made available at the conference site but we anticipate that participants will be downloading and reading the papers of particular interest to them so that they can ask thought provoking questions of the authors and discussants.

The program committee intends to publish the proceedings of the conference (as two or three volumes) but the details have not yet been finalized. Authors are free to publish their papers elsewhere if they desire. We hope that the program will advance the state of the art in index number theory and measurement economics.

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