PPI Quality Assessment Framework - PowerPoint PPT Presentation

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PPI Quality Assessment Framework

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PPI Quality Assessment Framework Irwin Gerduk PPI Survey Standardization Types of price Pricing methodology Sample design Monthly pricing procedures Data table ... – PowerPoint PPT presentation

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Title: PPI Quality Assessment Framework


1
PPI Quality Assessment Framework
  • Irwin Gerduk

2
PPI Survey Standardization
  • Types of price
  • Pricing methodology
  • Sample design
  • Monthly pricing procedures
  • Data table formats
  • Data collection methods

3
Tools for Achieving Standardization
  • PPI Quality Assessment Framework
  • Initial industry surveying manual
  • Data initiation manual
  • Monthly pricing manual
  • Index methodology, index calculation, index
    review, and data dissemination manual

4
Framework Major Concepts
  • Output price
  • Transaction price
  • Shipment price
  • Representative of current period production
  • Constant quality
  • Monthly price measure

5
Framework Statistical and Sample Design Issues
  • Sampling frame
  • Sample design
  • Response rates
  • Planned publication detail
  • Item specification

6
Scoring System
  • Type A Deflator Score of above 90
  • Type B Deflator Score of 70 to 90
  • Type C Deflator Score of below 70

7
Assessments performed
  • At completion of the design phase
  • At completion of initial data initiation
  • Periodically during the multi-year index
    calculation period

8
PPI vs. ATA 1990 - 2003
9
PPI vs. ATA 2004 - 2007
10
Domestic Scheduled Passenger Air Transportation
  • Enormous upward bias in the PPI index in the 1990
    2003 period
  • PPI and ATA indexes largely similar in the 2004
    2007 period
  • Neither series is quality adjusted
  • Normalized PPI score improved from 65 (Type C
    deflator) to 79 (middling Type B)
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