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Getting Prices Right: What Should Be Done? Author info | Abstract | Publisher info | Download info | Related research | Statistics Deaton, Angus
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Much of the profession accepts that the CPI likely overstates the rate of increase of the cost-of-living. It is less clear that there are sound and feasible steps that the BLS can adopt to improve matters in the short run. There are unresolved conceptual and identification problems in the measurement of quality. Superlative price indexes are not feasible, and feasible approximations are not superlative, and may not even be better. The need for a single index that aggregates over heterogeneous consumers with different incomes, tastes, and needs casts serious doubt on the cost-of-living approach. Copyright 1998 by American Economic Association.
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Article provided by American Economic Association in its journal Journal of Economic Perspectives .
Volume (Year): 12 (1998)
Issue (Month): 1 (Winter)
Pages: 37-46
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Handle: RePEc:aea:jecper:v:12:y:1998:i:1:p:37-46Contact details of provider: Email: Web page: http://www.aeaweb.org/jep/ More information through EDIRC
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Thomas F. Crossley & Krishna Pendakur, 2006.
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Other versions: R. A. Somerville, 2004.
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Christophe Muller, 2005.
"The Measurement Of Poverty With Geographical And Intertemporal Price Dispersion. Evidence From Rwanda ,"
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Other versions: Boskin, Michael J, et al, 1998.
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Goni, Edwin & Lopez, Humberto & Serven, Luis, 2006.
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Francisco Javier Lasso Valderrama, 2008.
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BORRADORES DE ECONOMIA
004723, BANCO DE LA REPÚBLICA.
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Francisco Javier Lasso Valderrama, .
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518, Banco de la Republica de Colombia.
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Javier Ruiz-Castillo & Eduardo Ley & Mario Izquierdo, .
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Studies on the Spanish Economy
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Javier Ruiz Castillo & Eduardo Ley & Mario Izquierdo, .
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[Downloadable!] Ruiz-Castillo, Javier & Ley, Eduardo & Izquierdo, Mario, 2002.
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[Downloadable!] (restricted) David E. Lebow & Jeremy B. Rudd, 2001.
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Morné Oosthuizen, 2007.
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Alexandru Voicu & Michael L. Lahr, 2004.
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Robert J Hill, 2004.
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Christophe Muller, 2005.
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Shiratsuka, Shigenori, 1999.
"Measurement Errors in the Japanese Consumer Price Index ,"
Monetary and Economic Studies ,
Institute for Monetary and Economic Studies, Bank of Japan, vol. 17(3), pages 69-102, December.
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