Rounding error: A distorting influence on index data

Journal of Money, Credit and Banking

Volumn 36, Issue 3 I, 2004, Pages 319-338

  Kozicki, Sharon ^a   Hoffman, Barak ^b  

^a FEDERAL RESERVE BANK OF KANSAS CITY   (United States)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Errors in variables; Inflation uncertainty; Inflation variance; Real time data

Indexed keywords

EID: 3142659831     PISSN: 00222879     EISSN: None     Source Type: Journal    
DOI: 10.1353/mcb.2004.0056     Document Type: Article

References (30)

1. Ball, Laurence, and Stephen G. Cecchetti (1990). "Inflation and Uncertainty at Short and Long Horizons." Brookings Papers on Economic Activity 1, 215-254.
2. Breusch, Trevor S., and Adrian R. Pagan (1979). "A Simple Test for Heteroskedasticity and Random Coefficient Variation." Econometrica 47, 1287-1294.
3. Brunner, Allan D., and Gregory D. Hess (1993). "Are Higher Levels of Inflation Less Predictable? A State-Dependent Conditional Heteroscedasticity Approach." Journal of Business and Economic Statistics 11, 187-197.
4. Davis, George, and Bryce Kanago (1998). "High and Uncertain Inflation: Results from a New Data Set." Journal of Money, Credit, and Banking 30, 218-230.
5. Evans, Martin (1991). "Discovering the Link between Inflation Rates and Inflation Uncertainty." Journal of Money, Credit, and Banking 23, 167-184.
6. Evans, Martin, and Paul Wachtel (1993). "Inflation Regimes and the Sources of Inflation Uncertainty." Journal of Money, Credit, and Banking 25, 475-511.
7. Friedman, Milton (1977). "Nobel Lecture: Inflation and Unemployment." Journal of Political Economy 85, 451-472.
8. Froyen, Richard T., and Roger N. Waud (1987). "An Examination of Aggregate Price Uncertainty in Four Countries and Some Implications for Real Output." International Economic Review 28, 353-372.
9. Golob, John E. (1994). "Does Inflation Uncertainty Increase with Inflation?" Federal Reserve Bank of Kansas City. Economic Review 19, 27-38.
10. Gordon, Robert J. (1971). "Steady Anticipated Inflaiton: Mirage or Oasis?" Brookings Papers on Economic Activity 2, 499-510.
11. Grether, David M., and G. S. Maddala (1973). "Errors in Variables and Serially Correlated Disturbances in Distribuated Lag Models." Econometrica 41, 255-262.
12. Holland, A. Steven (1984). "Does Higher Inflation Lead to More Uncertain Inflation?" Federal Reserve Bank of St. Louis. Review 66, 15-26.
13. Johnston, John (1984). Econometric Methods, 3rd edition. New York: McGraw-Hill.
14. Katsimbris, George M. (1985). "The Relationship Between the Inflation Rate, Its Variability, and Output Growth Variability; Disaggregated International Evidence." Journal of Money, Credit, and Banking 17, 179-188.
15. Kennedy, Peter (1998). A Guide to Econometrics. Cambridge, MA: The MIT Press.
16. Kim, Chang-Jin (1993). "Unobserved-Component Time Series Models with Markov-Switching Heteroscedasticity: Changes in Regime and the Link Between Inflation Rates and Inflation Uncertainty." Journal of Business and Economic Statistics 11, 341-349.
17. King, Robert G., and Mark W. Watson (1994). "The Post-War U.S. Phillips Curve: A Revisionist Econometric History." Carnegie-Rochester Conference Series on Public Policy 41, 157-219.
18. Koenker, Roger (1981). "A Note on Studentizing a Test for Heteroskedasticity." Journal of Econometrics 17, 107-112.
19. Levi, Maurice (1973). "Errors in the Variables Bias in the Presence of Correctly Measured Variables." Econometrica 41, 985-986.
20. Lindley, Dennis V. (1947). "Regression Lines and the Linear Functional Relationship." Supplement to the Journal of the Royal Statistical Society 9, 218-244.
21. Madansky, Albert (1959). "The Fitting of Straight Lines When both Variables are Subject to Error." Journal of the American Statistical Association 54, 173-205.
22. Malinvaud, E. (1970). Statistical Methods of Econometrics. New York: Elsevier.
23. Newbold, Paul (1978). "Feedback Induced by Measurement Errors." International Economic Review 19, 787-791.
24. Okun, Arthur M. (1971). "The Mirage of Steady Inflation." Brookings Papers on Economic Activity 2, 485-498.
25. Stewart, Kenneth, and Stephen B. Reed (1999). "Consumer Price Index Research Series Using Current Methods, 1978-98." Monthly Labor Review 122, 29-38.
26. Taylor, John B. (1981). "On the Relation between the Variability of Inflation and the Average Inflation Rate." Carnegie-Rochester Series on Public Policy 15, 57-86.
27. Theil, Henri (1971). Principles of Econometrics. New York: Wiley.
28. United States Department of Commerce (1939-1999). Survey of Current Business 19-79, Washington, DC: Government Printing Office.
29. United States Department of Labor (1997). CPI Detailed Report, December, Washington, DC: Government Printing Ofiice.
30. Whittle, P. (1963). Prediction and Regulation by Linear Least Squares Methods. London: The English Universities Press.