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The Financialized Household and the Consumer Price Index

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  • Freya Bundey

Abstract

The Consumer Price Index (CPI) is the standard measure of household inflation; however its calculations exclude critical areas of household expenditure. This paper is concerned with, first, how the meaning of the CPI has changed in recent decades given the ever increasing financialization of household expenditure, and second, identifying the factors that preclude the CPI from accounting for this shift and leaving it anachronistic in an era characterized by financial risks.

Suggested Citation

  • Freya Bundey, 2015. "The Financialized Household and the Consumer Price Index," Review of Radical Political Economics, Union for Radical Political Economics, vol. 47(4), pages 625-640, December.
    • Handle: RePEc:sae:reorpe:v:47:y:2015:i:4:p:625-640
    DOI: 10.1177/0486613415574267
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    References listed on IDEAS

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    1. Subho Banerjee & Robert Ewing, 2004. "Risk, wellbeing and public policy," Economic Roundup, The Treasury, Australian Government, issue 2, pages 21-44, August.
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      More about this item

      Keywords

      risk shifting; financialization; inflation; household finance; Consumer Price Index;
      All these keywords.

      JEL classification:

      • G00 - Financial Economics - - General - - - General
      • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
      • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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