-
1
-
-
0004302131
-
-
eds., (Washington, National Academy Press)
-
Charles L. Schultze and Christopher Mackie, eds., At What Price? Conceptualizing and Measuring Cost-of-Living and Price Indexes, Panel on Conceptual, Measurement, and Other Statistical Issues in Developing Cost-of-Living Indexes (Washington, National Academy Press, 2002).
-
(2002)
At What Price? Conceptualizing and Measuring Cost-of-Living and Price Indexes, Panel on Conceptual, Measurement, and Other Statistical Issues in Developing Cost-of-Living Indexes
-
-
Schultze, C.L.1
Mackie, C.2
-
2
-
-
84858896553
-
"Chapter 17, The Consumer Price Index"
-
updated online version (Bureau of Labor. Statistics, April 10)
-
"Chapter 17, The Consumer Price Index," BLS Handbook of Methods, updated online version (Bureau of Labor. Statistics, April 10, 2006), pp. 2-3;
-
(2006)
BLS Handbook of Methods
, pp. 2-3
-
-
-
3
-
-
84858899827
-
-
available on the Internet at
-
available on the Internet at http://www.bls.gov/opub/hom/pdf/homch17.pdf.
-
-
-
-
4
-
-
84858895948
-
"A Bureau of Labor Statistics Perspective on Bias in the Consumer Price Index"
-
For more information on the historical context of the COLI approach used in the CPI, Federal Reserve Bank of St. Louis Review, May
-
For more information on the historical context of the COLI approach used in the CPI, see John S. Greenlees, "A Bureau of Labor Statistics Perspective on Bias in the Consumer Price Index," Federal Reserve Bank of St. Louis Review, May 1997, pp. 175-78.
-
(1997)
, pp. 175-178
-
-
Greenlees, J.S.1
-
5
-
-
33744791073
-
-
For a detailed discussion of the conceptual foundations of price indexes, eds., The CNSTAT report approves of a COLI approach, but does not explicitly recommend it to the exclusion of other approaches
-
For a detailed discussion of the conceptual foundations of price indexes, see Schultze and Mackie, eds., At What Price? Conceptualizing and Measuring Cost-of-Living and Price Indexes, pp. 43-73. The CNSTAT report approves of a COLI approach, but does not explicitly recommend it to the exclusion of other approaches.
-
At What Price? Conceptualizing and Measuring Cost-of-Living and Price Indexes
, pp. 43-73
-
-
Schultze, C.L.1
Mackie, C.2
-
6
-
-
77952025077
-
"A Review of Reviews: Ninety Years of Professional Thinking About the Consumer Price Index"
-
For a detailed history of the Consumer Price Index, Paper presented at the CRIW Conference on Price Index Concepts and Measurement, Vancouver, Canada, June 28-29
-
For a detailed history of the Consumer Price Index, see Marshall Reinsdorf and Jack E. Triplett, "A Review of Reviews: Ninety Years of Professional Thinking About the Consumer Price Index." Paper presented at the CRIW Conference on Price Index Concepts and Measurement, Vancouver, Canada, June 28-29, 2004.
-
(2004)
-
-
Reinsdorf, M.1
Triplett, J.E.2
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7
-
-
84858898823
-
"A Review of Reviews"
-
For a discussion of the COLI and COGI debate
-
For a discussion of the COLI and COGI debate, see Reinsdorf and Triplett, "A Review of Reviews," pp. 34-41.
-
-
-
Reinsdorf, M.1
Triplett, J.E.2
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9
-
-
0009096005
-
"Bias in the Consumer Price Index: What is the Evidence?"
-
Fall
-
See Brent R. Moulton, "Bias in the Consumer Price Index: What is the Evidence?" Journal of Economic Perspectives, Fall 1996.
-
(1996)
Journal of Economic Perspectives
-
-
Moulton, B.R.1
-
11
-
-
0242345465
-
"Measurement Error in the Consumer Price Index: Where Do We Stand?"
-
March
-
David E. Lebow and Jeremy D. Rudd, "Measurement Error in the Consumer Price Index: Where Do We Stand?" Journal of Economic Literature, March 2003, 159-201.
-
(2003)
Journal of Economic Literature
, pp. 159-201
-
-
Lebow, D.E.1
Rudd, J.D.2
-
12
-
-
84858890565
-
"Quality Change in the CPI"
-
Federal Reserve Bank of St. Louis Review, May
-
Charles R. Hulten, "Quality Change in the CPI," Federal Reserve Bank of St. Louis Review, May 2001, pp. 87-111.
-
(2001)
, pp. 87-111
-
-
Hulten, C.R.1
-
13
-
-
27744593978
-
"Apparel Prices 1914-93 and the Hulten/Bruegel Paradox"
-
Paper presented at CRIW Conference on Price Index Concepts and Measurement, Vancouver, Canada
-
See Robert Gordon, "Apparel Prices 1914-93 and the Hulten/Bruegel Paradox." Paper presented at CRIW Conference on Price Index Concepts and Measurement, Vancouver, Canada, 2004;
-
(2004)
-
-
Gordon, R.1
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14
-
-
33744809190
-
"A Century of Housing Shelter Prices: Is There a Downward Bias in the CPI?"
-
NBER Working Paper No. 11776 (National Bureau of Economic Research, November)
-
and Robert Gordon and Todd vanGoethem, "A Century of Housing Shelter Prices: Is There a Downward Bias in the CPI?" NBER Working Paper No. 11776 (National Bureau of Economic Research, November 2005).
-
(2005)
-
-
Gordon, R.1
vanGoethem, T.2
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15
-
-
33947542228
-
"The Lowe Consumer Price Index and its Substitution Bias"
-
Technically, the CPI is a Lowe price index, not a Laspeyres index. For more on this distinction, Discussion Paper 04-07 (Department of Economics, University of British Columbia), July In general, the modified Laspeyres or Lowe index does not have the property of being an upper bound to a cost-of-living index. This follows because the comparisons of intermediate values of a Laspeyres index subsequent to the base period do not have this property
-
Technically, the CPI is a Lowe price index, not a Laspeyres index. For more on this distinction, see Bert M. Balk and W. Erwin Diewert, "The Lowe Consumer Price Index and its Substitution Bias," Discussion Paper 04-07 (Department of Economics, University of British Columbia), July 2004. In general, the modified Laspeyres or Lowe index does not have the property of being an upper bound to a cost-of-living index. This follows because the comparisons of intermediate values of a Laspeyres index subsequent to the base period do not have this property.
-
(2004)
-
-
Balk, B.M.1
Diewert, W.E.2
-
16
-
-
0009297429
-
"The Commodity Substitution Effect in CPI Data, 1982-1991: Anatomy of a Price Change"
-
December
-
See Ana M. Aizcorbe and Patrick C. Jackman, "The Commodity Substitution Effect in CPI Data, 1982-1991: Anatomy of a Price Change," Monthly Labor Review, December 1993, pp. 25-33.
-
(1993)
Monthly Labor Review
, pp. 25-33
-
-
Aizcorbe, A.M.1
Jackman, P.C.2
-
17
-
-
84858894874
-
"Chapter 17, The Consumer Price Index"
-
for item categories that use the Laspeyres formula
-
See "Chapter 17, The Consumer Price Index," BLS Handbook of Methods, for item categories that use the Laspeyres formula.
-
BLS Handbook of Methods
-
-
-
18
-
-
33744827601
-
-
note
-
Reinsdorf and Triplett suggest other reasons beyond substitution to use the geometric mean estimator.
-
-
-
-
19
-
-
84858900681
-
"Introducing the Chained Consumer Price Index"
-
For a detailed discussion of this index, Paper presented at Seventh Meeting of the International Working Group on Price Indices, Paris, France, May
-
For a detailed discussion of this index, see Robert Cage, John S. Greenlees, and Patrick Jackman, "Introducing the Chained Consumer Price Index." Paper presented at Seventh Meeting of the International Working Group on Price Indices, Paris, France, May 2003.
-
(2003)
-
-
Cage, R.1
Greenlees, J.S.2
Jackman, P.3
-
20
-
-
33744823442
-
-
note
-
Unlike the CPI-U and CPI-U-XL, major group and other subaggregate C-CPI-U indexes are not independent. For example, the Food and Beverage C-CPI-U index reflects average price change among food and beverage items, but because relative price change for items in other major groups (Housing, Transportation, for example) may affect the level of expenditure on food items, the Food and Beverage C-CPI-U index is conditional upon price change in other major groups. Moreover, C-CPI-U indexes are not precisely consistent in aggregation, although in practice they are very close. That is, an expenditure weighted average of the subindexes may not yield the exact estimate of All Items price change as the official All Items index. Additionally, the difference between the C-CPI-U and published CPI-U is being used as a measure of upper-level substitution even though the published CPI-U is technically a Lowe index. Thus, while this table does give an idea of the relative magnitude of the substitution effects, it should be interpreted with caution for the major groups and other subaggregates. Note, however, that BLS research on upper-level substitution bias, which had preceded the development of the C-CPI-U and had been provided to the Boskin Commission, was based on the comparison of a true Laspeyres index with Fisher and Tornqvist superlative indexes.
-
-
-
-
21
-
-
33744821278
-
-
note
-
The CPI-U-XL is an unofficial index that uses a Laspeyres formula to average the prices within basic item area cells, as well as aggregating those indexes.
-
-
-
-
22
-
-
84858896667
-
-
Data from which this figure is derived are available on the BLS website at
-
Data from which this figure is derived are available on the BLS website at http://www.bls.gov/cpi/cpigmatab.htm.
-
-
-
-
23
-
-
0042702831
-
"Improving Sample Rotation Procedures"
-
October
-
See Ken Stewart, "Improving Sample Rotation Procedures," CPI Detailed Report, October 1994, pp. 7-8;
-
(1994)
CPI Detailed Report
, pp. 7-8
-
-
Stewart, K.1
-
24
-
-
0042201784
-
"Extending the Improvements in CPI Sample Rotation Procedures and Improving the Procedures for Substitute Items"
-
March
-
and "Extending the Improvements in CPI Sample Rotation Procedures and Improving the Procedures for Substitute Items," CPI Detailed Report, March, 1996, pp.4-5.
-
(1996)
CPI Detailed Report
, pp. 4-5
-
-
-
25
-
-
84880510694
-
"Small Sample Bias in Geometric Mean and Seasoned CPI Component Indexes"
-
Bureau of Labor Statistics Working Paper 324, August
-
See Robert McClelland and Marshall Reinsdorf, "Small Sample Bias in Geometric Mean and Seasoned CPI Component Indexes," Bureau of Labor Statistics Working Paper 324, August 1999;
-
(1999)
-
-
McClelland, R.1
Reinsdorf, M.2
-
26
-
-
84858892065
-
"Analytical Bias Reduction for Small Samples in the US Consumer Price Index"
-
BLS unpublished manuscript, September 3
-
and Ralph Bradley, "Analytical Bias Reduction for Small Samples in the US Consumer Price Index," BLS unpublished manuscript, September 3, 2004.
-
(2004)
-
-
Bradley, R.1
-
27
-
-
84858892065
-
"Analytical Bias Reduction for Small Samples in the US Consumer Price Index"
-
See Bradley, "Analytical Bias Reduction for Small Samples in the US Consumer Price Index."
-
-
-
Bradley, R.1
-
28
-
-
33744805987
-
-
note
-
Robert Cage and coauthors estimate that the size of the differenceis only 0.6 percent if the biennial weights are used in the construction of the CPI-U. In addition, this large difference is also apparent in the difference between the PCE chain-weight and fixed-weight indexes for 2000.
-
-
-
-
29
-
-
33744809988
-
-
note
-
Weights for the final version of the C-CPI-U are from contemporaneous expenditure data and so the CPI-U weights are always, in a sense, older than those of the C-CPI-U. However, since the CPI-U weights are updated every 2 years, the time gap between the weights of the two indexes varies over time.
-
-
-
-
31
-
-
84858898787
-
"Apparel Prices 1914-93 and the Hulten/Bruegel Paradox"
-
See Robert Gordon, "Apparel Prices 1914-93 and the Hulten/Bruegel Paradox."
-
-
-
Gordon, R.1
-
32
-
-
0242345465
-
"Measurement Error in the Consumer Price Index: Where Do We Stand?"
-
March
-
David E. Lebow and Jeremy D. Rudd, "Measurement Error in the Consumer Price Index: Where Do We Stand?" Journal of Economic Literature, March 2003, pp. 159-201.
-
(2003)
Journal of Economic Literature
, pp. 159-201
-
-
Lebow, D.E.1
Rudd, J.D.2
-
33
-
-
84858890565
-
"Quality Change in the CPI"
-
Hulten, "Quality Change in the CPI."
-
-
-
Hulten, C.R.1
-
34
-
-
0242282273
-
"On Both Sides of the Quality Bias in Price Indexes"
-
Staff Report 157 (Federal Reserve Bank of New York)
-
Bart Hobijn, "On Both Sides of the Quality Bias in Price Indexes," Staff Report 157 (Federal Reserve Bank of New York, 2002);
-
(2002)
-
-
Hobijn, B.1
-
35
-
-
84858896662
-
-
on the Internet at
-
on the Internet at http://ideas.repec.org/p/fip/fednsr/157.html#provider.
-
-
-
-
36
-
-
84858891215
-
"Haute Con Job"
-
(PIMCO Bonds, October)
-
Bill Gtoss, "Haute Con Job," Investment Outlook (PIMCO Bonds, October 2004).
-
(2004)
Investment Outlook
-
-
Gross, B.1
-
37
-
-
0042703049
-
"Bias in the Consumer Price Index: What is the Evidence?"
-
This is made especially clear in
-
This is made especially clear in Brent R. Moulton, "Bias in the Consumer Price Index: What is the Evidence?"
-
-
-
Moulton, B.R.1
-
38
-
-
84858897505
-
"A Bureau of Labor Statistics Perspective on Bias in the Consumer Price Index"
-
and in
-
and in John S. Gréenlees, "A Bureau of Labor Statistics Perspective on Bias in the Consumer Price Index."
-
-
-
Gréenlees, J.S.1
-
39
-
-
84887566071
-
-
This discussion follows that in the
-
This discussion follows that in the BLS Handbook of Methods.
-
BLS Handbook of Methods
-
-
-
41
-
-
0002627888
-
"Consumer Price Index Using Current Methods"
-
June
-
Kenneth J. Stewart and Stephen B. Reed, "Consumer Price Index Using Current Methods," Monthly Labor Review, June 1999, pp. 29-38.
-
(1999)
Monthly Labor Review
, pp. 29-38
-
-
Stewart, K.J.1
Reed, S.B.2
-
42
-
-
33744803097
-
-
note
-
In the past 3 years, the average adjustment has fallen to 0.26 percent per year.
-
-
-
-
43
-
-
33744803654
-
-
Internal BLS memorandum, April
-
David S. Johnson and Craig Brown, Internal BLS memorandum, April 2005.
-
(2005)
-
-
Johnson, D.S.1
Brown, C.2
-
44
-
-
33744793366
-
-
Internal BLS memorandum, February
-
David S. Johnson and Joe Chelena, Internal BLS memorandum, February 2005.
-
(2005)
-
-
Johnson, D.S.1
Chelena, J.2
|