Why does the Census Bureau change the structure of the price index periodically by changing the base weights?
7. How does the constant quality house from the new series (2005) differ from the old series (1996) in the most important variables? 8. Should the annual period-to-period change for the old and new series be reasonably consistent? 9. If I want to continue using a 1996 base year, instead of switching to a 2005 base year, how would I do that? 10. How does the Fisher Price Deflator for houses under construction, which is based on the geometric average of Laspeyres and Paasche under construction price indexes, differ between the new and old series? 11. When I take the antilog of the average logarithm of square feet of houses sold, I do not receive the average square feet value shown in the 2005 base weight tables. Why is that? 1. How was the 2005 based price index series (new series) created? The new series uses the kind of new houses sold in 2005 as the constant quality house or base year characteristics. Regression coefficients are calculated at each time period to determine the current
