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A State Price Index

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  • Victor R. Fuchs
  • Robert T. Michael
  • Sharon R. Scott

Abstract

No cross-sectional consumer price index is currently available by state, and the BLS's cross-sectional "family budget" index for metropolitan areas is not well-suited for cross-state analyses. In this paper we propose an algorithm for constructing a state-specific Laspeyres price index using conveniently available information from the Census of Business and the Survey of Current Business. The index is calculated for each state (and for Census divisions and regions) for 1967 and 1972. Its characteristics are discussed, and it is used to deflate nominal per capita income by state. Comparing "real" income by state with nominal income by state, the former has substantially less variation cross-sectionally but greater variation over time (between 1967 and 1972).

Suggested Citation

  • Victor R. Fuchs & Robert T. Michael & Sharon R. Scott, 1979. "A State Price Index," NBER Working Papers 0320, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:0320
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    References listed on IDEAS

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    1. Victor R. Fuchs, 1976. "The Earnings of Allied Health Personnel - Are Health Workers Underpaid?," NBER Chapters, in: Explorations in Economic Research, Volume 3, number 3, pages 408-432, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Olney, William W., 2020. "Cabotage sabotage? The curious case of the Jones Act," Journal of International Economics, Elsevier, vol. 127(C).
    2. Robert Michael & Victor Fuchs & Sharon Scott, 1980. "changes in the propensity to live alone: 1950–1976," Demography, Springer;Population Association of America (PAA), vol. 17(1), pages 39-56, February.
    3. Lewit, Eugene M & Coate, Douglas & Grossman, Michael, 1981. "The Effects of Government Regulation on Teenage Smoking," Journal of Law and Economics, University of Chicago Press, vol. 24(3), pages 545-569, December.
    4. Hai-Yen Sung & Teh- Wei Hu & Theodore E. Keeler, 1994. "A Dynamic Simultaneous-Equations Model for Cigarette Consumption in the Western States," Public Economics 9403002, University Library of Munich, Germany, revised 04 Apr 1994.
    5. Robert T. Michael & Victor R. Fuchs & Sharon R. Scott, 1980. "Changes in Household Living Arrangements 1950-76," NBER Working Papers 0262, National Bureau of Economic Research, Inc.

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