The Federal Reserve staff has found that, when detailed data are available on prices and on quantities, we can produce results that are comparable to those based on hedonics, using the 2 conceptually simpler "matched model" approach.
Indeed, we have taken this approach in constructing 1  J. Steven Landefeld and Bruce T. Grimm, "A Note on the Impact of Hedonics and Computers on Real GDP," Survey of Current Business (December 2000).