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Estimating UK regional price indices, 1974-96

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  • Peter Hayes
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    Abstract

    Hayes P. (2005) Estimating UK regional price indices, 1974-96, Regional Studies 39 , 333-344. This paper examines the behaviour and construction of regional expenditure indices published in the Croner-Reward Regional Cost of Living Surveys for 1974-96. It identifies a number of problems in using these data as an appropriate deflator to the New Earnings Survey regional wages series in examining labour supply-side decisions. Instead, an alternative method with which to construct regional prices is recommended using a combination of data from Croner-Reward, from the published Retail Price Index (RPI) and from the Expenditure and Food Survey (EFS) (formerly known as the Family Expenditure Survey). Whilst these new data suggest that regional inflation rates were not significantly different from one another over the sample period, they point to an episode of increased regional price variation over the late 1980s and early 1990s. This paper suggests that these alternative indices would be of interest when examining adjustment processes to economic shocks across the regions of the UK.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Regional Studies.

    Volume (Year): 39 (2005)
    Issue (Month): 3 ()
    Pages: 333-344

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    Handle: RePEc:taf:regstd:v:39:y:2005:i:3:p:333-344

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    Related research

    Keywords: Regions; Cost of living indices; Prices; Expenditure and variability; Regions; Indices du cout de la vie; Prix; Depenses; Variation; Regionen; Lebensunterhaltsindex; Preise; Ausgaben und Variabilitat; Regiones; Indices de coste de la vida; Precios; Gastos y variabilidad; JEL classifications: R10; R12; J31;

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    1. David Fielding & Kalvinder Shields, 2001. "A Nation Divided? Price and Output Dynamics in English Regions," Discussion Papers in Economics 01/6, Department of Economics, University of Leicester.
    2. Salvador Barrios & Marius Br¸lhart & Robert J.R. Elliott & Marianne Sensier, 2003. "A Tale of Two Cycles: Co-Fluctuations Between UK Regions and the Euro Zone," Manchester School, University of Manchester, vol. 71(3), pages 265-292, 06.
    3. Blanchflower, D. & Oswald, A., 1989. "The Wage Curve," Papers 340, London School of Economics - Centre for Labour Economics.
    4. Hyclak, Thomas & Johnes, Geraint, 1992. "Regional Wage Inflation and Unemployment Dynamics in Great Britain," Scottish Journal of Political Economy, Scottish Economic Society, vol. 39(2), pages 188-200, May.
    5. Alastair Cunningham, 1996. "Measurement Bias in Price Indices: An Application to the UK's RPI," Bank of England working papers 47, Bank of England.
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    Cited by:
    1. Michael Beenstock & Daniel Felsenstein, 2007. "Mobility and Mean Reversion in the Dynamics of Regional Inequality," International Regional Science Review, , vol. 30(4), pages 335-361, October.
    2. Alberto, Montagnoli & Jun, Nagayasu, 2013. "An Investigation of Housing Affordability in the UK Regions," SIRE Discussion Papers 2013-64, Scottish Institute for Research in Economics (SIRE).
    3. Cinzia, Rienzo, 2010. "Real Wages, Wage Inequality and the Regional Cost-of-living in the UK," MPRA Paper 36390, University Library of Munich, Germany, revised Oct 2010.

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