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Verzerrungen von Konsumentenpreisindizes und ihr Einfluss auf das «reale» Wirtschaftswachstum – dargestellt am Beispiel der USA

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Author Info
Jochen Hartwig () (KOF Swiss Economic Institute, ETH Zurich)
Bernd Schips () (KOF Swiss Economic Institute, ETH Zurich)

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Abstract

The paper reviews the sources of «Upward bias» and «Downward bias» in the USConsumer Price Index (CPI) and discusses the changes the Bureau of Labor Statistics has introduced in order to eliminate them. The remaining biases are quantified. Also, the question is raised how much the changes to the CPI have lifted the growth rates of «real» US-GDP upward. It is shown that the divergence in growth rates between the US and the European Union since 1997 can be explained almost entirely in terms of differing statistical methods.

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Publisher Info
Paper provided by KOF Swiss Economic Institute, ETH Zurich in its series KOF Working papers with number 04-94.

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Length: 28 pages
Date of creation: Nov 2004
Date of revision:
Handle: RePEc:kof:wpskof:04-94

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Related research
Keywords: Consumer Price Index; Economic Growth; Statistical bias; Statistical artifacts; United States;

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Find related papers by JEL classification:
C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

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  1. Jochen Hartwig, 2005. "Messprobleme bei der Ermittlung des Wachstums der Arbeitsproduktivität – dargestellt anhand eines Vergleichs der Schweiz mit den USA," KOF Working papers 05-100, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
    Other versions:
  2. Jochen Hartwig, 2005. "On misusing National Accounts data for governance purposes," KOF Working papers 05-101, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
  3. Jochen Hartwig, 2005. "Sind unsere gesamtwirtschaftlichen Probleme überhaupt lösbar?," KOF Working papers 05-112, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
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This page was last updated on 2009-12-1.

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