The Measurement of Durable Goods Prices

The Measurement of Durable Goods Prices presents a comprehensive analysis of price changes in durable goods across multiple decades of U.S. economic history. This technical work examines pricing patterns for products ranging from automobiles to computers, incorporating detailed data on quality improvements and technological advances. Gordon challenges conventional price measurement methodologies and demonstrates systematic biases in official price indexes. The research draws on extensive historical records, product catalogs, and industry data to construct alternative price measures that account for quality changes. The book includes case studies of specific durable goods categories and develops new techniques for measuring price changes in products with rapid technological evolution. Technical appendices provide the underlying data and methodological details that support the main findings. This landmark contribution to economic measurement raises fundamental questions about how price changes and economic growth are calculated. The work has implications for understanding productivity growth, living standards, and the impact of technological progress on the economy.

This academic book appears to have very limited public reader reviews online. As a technical economics text focused on price measurement methodology, it has a small, specialized audience of economists and researchers. What readers valued: - Detailed data on quality improvements in durable goods - Thorough documentation of price measurement methods - Comprehensive historical price data from 1947-1983 Reader criticisms: - Dense technical writing style - Requires advanced economics knowledge - Some data and examples now dated Available ratings: - No ratings on Goodreads - No consumer reviews on Amazon - Primarily cited in academic papers rather than reviewed by general readers The book is referenced frequently in economic research papers but lacks public reader reviews. Its technical nature means most discussion occurs within academic circles rather than consumer review sites.

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📚 The book was published in 1990 by the University of Chicago Press and represents over a decade of research into how product quality improvements affect price measurement 🔍 Gordon's research revealed that official price indexes significantly overstated inflation in durable goods by failing to properly account for quality improvements, sometimes by as much as 3% per year 💡 The methodology developed in this book helped reshape how government statistical agencies measure quality changes in products over time, particularly for technology goods 📊 The study examined 25,000 individual price observations across various durable goods categories, making it one of the most comprehensive studies of its kind at the time 🏆 This work is considered a seminal text in the field of price measurement and earned Robert J. Gordon recognition as one of the leading experts in productivity and price measurement research