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The Consumer Price Index: A Research Agenda and Three Proposals

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  • Robert A. Pollak

Abstract

This paper argues that dealing with current concerns about the CPI within the framework of economic theory requires developing the theory of the cost-of-living index under more general assumptions than have thus far been standard. It examines three neglected but critical issues that should rank high on the research agenda because of their practical implications for index number construction: Whose cost-of-living index? Why shop? and What is a good? It concludes by discussing the intersection between the technical problems of constructing the CPI and the political problems of indexing taxes and transfers.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.12.1.69
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 12 (1998)
Issue (Month): 1 (Winter)
Pages: 69-78

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Handle: RePEc:aea:jecper:v:12:y:1998:i:1:p:69-78

Note: DOI: 10.1257/jep.12.1.69
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Cited by:
  1. repec:fda:fdaddt:99-15 is not listed on IDEAS
  2. Alan B. Krueger & Aaron Siskind, 1998. "Assessing the Bias in the Consumer Price Index from Survey Data," NBER Working Papers 6450, National Bureau of Economic Research, Inc.
  3. Trevon D. Logan, 2008. "Are Engel Curve Estimates of CPI Bias Biased?," NBER Working Papers 13870, National Bureau of Economic Research, Inc.
  4. Stefan Linz, 2010. "Regional Consumer Price Differences Within Germany Information Demand, Data Supply and the Role of the Consumer Price Index," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 230(6), pages 814-831, December.
  5. Timothy K.M. Beatty & Erling Røed Larsen & Dag Einar Sommervoll, 2005. "Measuring the Price of Housing Consumption for Owners in the CPI," Discussion Papers 427, Research Department of Statistics Norway.
  6. Javier Ruiz-Castillo & Eduardo Ley & Mario Izquierdo, . "Distributional aspects of the quality change bias in the CPI: Evidence from Spain," Studies on the Spanish Economy 73, FEDEA.
  7. Hyun H. Son & Nanak Kakwani, 2006. "Measuring the impact of prices on inequality: with applications to Thailand and Korea," Working Papers 11, International Policy Centre for Inclusive Growth.
  8. Hyun Son & Nanak Kakwani, 2006. "Measuring the impact of prices on inequality: With applications to Thailand and Korea," Journal of Economic Inequality, Springer, vol. 4(2), pages 181-207, August.
  9. 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.
  10. repec:fda:fdaddt:2000-08 is not listed on IDEAS
  11. José Cuesta & Suzanne Duryea & Fidel Jaramillo & Marcos Robles, 2010. "Distributive impacts of the food price crisis in the Andean region," Journal of International Development, John Wiley & Sons, Ltd., vol. 22(7), pages 846-865.
  12. Jordi Maluquer de Motes i Bernet, 2007. ""La paradisíaca estabilidad de la anteguerra". Elaboración de un índice de precios de consumo de España, 1830-1936," UHE Working papers 2007_07, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.
  13. Marshall Reinsdorf & Jack E. Triplett, 2009. "A Review of Reviews: Ninety Years of Professional Thinking About the Consumer Price Index," NBER Chapters, in: Price Index Concepts and Measurement, pages 17-83 National Bureau of Economic Research, Inc.
  14. Carlos Guerrero de Lizardi & Manuel Lara Caballero, 2011. "Variaciones en la medición estatal de la pobreza por ingresos según índices de precios locales: México 2000-2008," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(2), pages 51-78, November.
  15. Atuesta, Laura & Paredes, Araya, 2011. "A Spatial Cost of Living Index for Colombia using a Microeconomic Approach and Censored Data," MPRA Paper 30580, University Library of Munich, Germany.
  16. repec:dgr:umamer:2003032 is not listed on IDEAS

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