| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21074 |
| 来源ID | Working Paper 21074 |
| How Fast are Semiconductor Prices Falling? | |
| David M. Byrne; Stephen D. Oliner; Daniel E. Sichel | |
| 发表日期 | 2015-04-13 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | The Producer Price Index (PPI) for the United States suggests that semiconductor prices have barely been falling in recent years, a dramatic contrast from the rapid declines reported from the mid-1980s to the early 2000s. This slowdown in the rate of decline is puzzling in light of evidence that the performance of microprocessor units (MPUs) has continued to improve at a rapid pace. Roughly coincident with the shift to slower price declines in the PPI, Intel — the leading producer of MPUs — substantially changed its pricing behavior for these chips. As a result of this change, we argue that the matched-model methodology used in the PPI for MPUs likely started to be biased in the mid-2000s and that hedonic indexes can provide a more accurate measure of price change since then. Our preferred hedonic index of MPU prices tracks the PPI closely through 2004. However, from 2004 to 2008, our preferred index fell faster than the PPI, and from 2008 to 2013 the gap widened further, with our preferred index falling at an average annual rate of 43 percent, while the PPI declined at only an 8 percent rate. Given that MPUs currently represent about half of U.S. shipments of semiconductors, this difference has important implications for gauging the rate of innovation in the semiconductor sector. |
| 主题 | Macroeconomics ; Business Cycles ; Fiscal Policy ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies ; History ; Macroeconomic History ; Other History ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w21074 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578749 |
| 推荐引用方式 GB/T 7714 | David M. Byrne,Stephen D. Oliner,Daniel E. Sichel. How Fast are Semiconductor Prices Falling?. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
