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Measurement Bias in the Canadian Consumer Price Index

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  • James Rossiter
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    Abstract

    The consumer price index (CPI) is the most commonly used measure of inflation in Canada. As an indicator of changes in the cost of living, however, the CPI is subject to various types of measurement bias. The author updates previous Bank of Canada estimates of the bias in the Canadian CPI by examining four different sources of potential bias. He finds that the total measurement bias has increased only slightly in recent years to 0.6 percentage points per year, and is low when compared with other countries.

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    File URL: http://www.bankofcanada.ca/wp-content/uploads/2010/02/wp05-39.pdf
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    Bibliographic Info

    Paper provided by Bank of Canada in its series Working Papers with number 05-39.

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    Length: 38 pages
    Date of creation: 2005
    Date of revision:
    Handle: RePEc:bca:bocawp:05-39

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    Related research

    Keywords: Inflation et prix; Cibles en matière d'inflation;

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    1. Alastair Cunningham, 1996. "Measurement Bias in Price Indices: An Application to the UK's RPI," Bank of England working papers 47, Bank of England.
    2. Beatty, Timothy K.M. & Larsen, Erling Roed, 2004. "Using Engel Curves To Estimate Bias In The Canadian Cpi As A Cost Of Living Index," Working Papers, University of British Columbia, Food and Resource Economics 15836, University of British Columbia, Food and Resource Economics.
    3. W. Erwin Diewert, 1998. "Index Number Issues in the Consumer Price Index," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 47-58, Winter.
    4. Erwin Diewert & Denis Lawrence, 1999. "Measuring New Zealand’s Productivity," Treasury Working Paper Series 99/05, New Zealand Treasury.
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    Cited by:
    1. Kitov, Oleg & Kitov, Ivan, 2011. "A win-win monetary policy in Canada," MPRA Paper 29975, University Library of Munich, Germany.

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