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The study also compared the authors' data-intensive approach that estimates R&D costs separately for the five specific industries with an approach that uses a common deflator.
Second, in the post-1982 sample period, NFB inflation has estimated measurement error properties that are quite similar to those of the GDP and PCE deflators.
The deflator used in defining the demand for real money balances is given by the index
During the 1970's, many analysts suggested that the CPI was overstating the inflation rate when compared to the PCE Deflator.
More generally, while price deflators for personal computers (PCs) often are estimated with hedonic techniques, the nexus of innovation has moved beyond PCs to mobile devices and areas that are, perhaps, less visible like navigation equipment (GPS).
Table 2 shows the annual and quarterly deflators and fixed-weighted price indexes for computers and peripheral equipment and for the OCAM category of producers' durable equipment.
This part of the report examined conceptual, definitional and measurement issues associated with labour input, nominal wages, nominal output, and deflators.
The latest estimates indicate a larger upward revision in planned real spending than in planned current-dollar spending because of changes in the capital goods price deflator for "all industries.
Implicit Price Deflators for Command-Basis Gross National Product
The revised deflators have resulted in substantial revisions for some industries.
The deflators for computers and for office, computing, and accounting machinery are shown in table 1.
Estimates of real spending are computed from survey data on current-dollar, spending and from estimated capital goods price deflators developed by BEA.