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Index Number Issues in the Consumer Price Index

Index Number Issues in the Consumer Price Index Abstract This paper addresses the following issues: what is an appropriate theoretical consumer price index that statistical agencies should attempt to measure; what are some of the possible sources of biases between the fixed base Laspeyres price index that statistical agencies produce and the theoretical cost-of-living index; and what factors will make the biases larger or smaller and how will the biases change as the general inflation rate changes? This paper addresses all of the issues mentioned above and discusses what statistical agencies can do to reduce the biases. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Perspectives American Economic Association

Index Number Issues in the Consumer Price Index

Journal of Economic Perspectives , Volume 12 (1) – Feb 1, 1998

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Publisher
American Economic Association
Copyright
Copyright © 1998 by the American Economic Association
Subject
Symposia
ISSN
0895-3309
DOI
10.1257/jep.12.1.47
Publisher site
See Article on Publisher Site

Abstract

Abstract This paper addresses the following issues: what is an appropriate theoretical consumer price index that statistical agencies should attempt to measure; what are some of the possible sources of biases between the fixed base Laspeyres price index that statistical agencies produce and the theoretical cost-of-living index; and what factors will make the biases larger or smaller and how will the biases change as the general inflation rate changes? This paper addresses all of the issues mentioned above and discusses what statistical agencies can do to reduce the biases.

Journal

Journal of Economic PerspectivesAmerican Economic Association

Published: Feb 1, 1998

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