Consumer Price Index. Does the Price Collection Frequency Matter? Some Monte Carlo Results
AbstractIn this paper, we examine the effects of data collection frequency on the computation of the Consumer Price Index (CPI). Using stochastic simulation techniques, we conclude that the frequency of data collection has a considerable effect on CPI values. Our findings confirm the need for high levels of data collection frequency for the purpose of computing the CPI and, in general, for the more effective monitoring of developments in the cost of living, as this is approached on the basis of Consumer Price Index values.
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Bibliographic InfoPaper provided by University of Crete, Department of Economics in its series Working Papers with number 0820.
Length: 11 pages
Date of creation: 03 Jun 2008
Date of revision:
Publication status: Forthcoming in IARIW 30th General Conference
Frequency of Data Collection; Consumer Price Index; Stochastic Simulation.;
Find related papers by JEL classification:
- C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data
- C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-07-20 (All new papers)
- NEP-CMP-2008-07-20 (Computational Economics)
- NEP-MAC-2008-07-20 (Macroeconomics)
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