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Elementary Aggregates, Micro‐Indices And Scanner Data: Some Issues In The Compilation Of Consumer Price Indices

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  • Mick Silver

Abstract

The paper argues for the use of scanner data from EPOS systems for use in the compilation of consumer price indices. A number of methods of calculating micro‐indices from such data are outlined. Scanner data for colour television sets in the U.K. are used as an example. The Tornqvist chained index is used as a benchmark against which alternative formulations, including those based on representative products, can be judged, the errors often being substantial. The paper argues for the use of scanner data, illustrates methods of compiling micro‐indices and points to the potential for serious errors from conventional methods.

Suggested Citation

  • Mick Silver, 1995. "Elementary Aggregates, Micro‐Indices And Scanner Data: Some Issues In The Compilation Of Consumer Price Indices," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 41(4), pages 427-438, December.
    • Handle: RePEc:bla:revinw:v:41:y:1995:i:4:p:427-438
    DOI: 10.1111/j.1475-4991.1995.tb00136.x
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    Cited by:

    1. Robin Lowe & Candace Ruscher, 2003. "Estimating Price Movements for Consumer Durables Using Electronic Retail Transactions Data," NBER Chapters, in: Scanner Data and Price Indexes, pages 89-110, National Bureau of Economic Research, Inc.
    2. Enzo D’Innocenzo & Alessandra Luati & Mario Mazzocchi, 2023. "A robust score-driven filter for multivariate time series," Econometric Reviews, Taylor & Francis Journals, vol. 42(5), pages 441-470, May.
    3. William J. Hawkes & Frank W. Piotrowski, 2003. "Using Scanner Data to Improve the Quality of Measurement in the Consumer Price Index," NBER Chapters, in: Scanner Data and Price Indexes, pages 17-38, National Bureau of Economic Research, Inc.
    4. Vermeulen, Philip & Gábor, Enikö, 2014. "New evidence on elementary index bias," Working Paper Series 1754, European Central Bank.
    5. Silver, Mick, 2000. "Hedonic regressions: an application to VCRs using scanner data," Omega, Elsevier, vol. 28(4), pages 399-408, August.
    6. Silver, Mick, 1999. "Disparities in the prices of new and old models when they coexist in the market: some econometric estimates," Omega, Elsevier, vol. 27(1), pages 13-24, February.
    7. Mick Silver & Saeed Heravi, 2004. "Hedonic Price Indexes and the Matched Models Approach," Manchester School, University of Manchester, vol. 72(1), pages 24-49, January.
    8. David Fenwick & Adrian Ball & Peter Morgan, 2003. "Price Collection and Quality Assurance of Item Sampling in the Retail Prices Index.How Can Scanner Data Help?," NBER Chapters, in: Scanner Data and Price Indexes, pages 67-87, National Bureau of Economic Research, Inc.
    9. Christos Ioannidis & Mick Silver, 2003. "Chained, exact and superlative hedonic price changes: estimates from microdata," Applied Economics, Taylor & Francis Journals, vol. 35(9), pages 1005-1014.

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