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The consumer price index as a measure of inflation

  • Michael F. Bryan
  • Stephen G. Cecchetti

An estimation of a price index that is immune to some of the weighting biases that can hinder the use of the Consumer Price Index as a reliable measure of inflation.

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File URL: http://www.clevelandfed.org/Research/Review/1993/93-q4-bryan.pdf
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Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1993)
Issue (Month): Q IV ()
Pages: 15-24

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Handle: RePEc:fip:fedcer:y:1993:i:qiv:p:15-24:n:v.29no.4
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  1. Mark A. Wynne & Fiona Sigalla, 1993. "A survey of measurement biases in price indexes," Research Paper 9340, Federal Reserve Bank of Dallas.
  2. Whitney K. Newey & Kenneth D. West, 1986. "A Simple, Positive Semi-Definite, Heteroskedasticity and AutocorrelationConsistent Covariance Matrix," NBER Technical Working Papers 0055, National Bureau of Economic Research, Inc.
  3. Robert J. Gordon, 1992. "Measuring the Aggregate Price Level: Implications For Economic Performance and Policy," NBER Working Papers 3969, National Bureau of Economic Research, Inc.
  4. David E. Lebow & John M. Roberts & David J. Stockton, 1992. "Economic performance under price stability," Working Paper Series / Economic Activity Section 125, Board of Governors of the Federal Reserve System (U.S.).
  5. Alchian, Armen A & Klein, Benjamin, 1973. "On a Correct Measure of Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(1), pages 173-91, Part I Fe.
  6. Laurence Ball & N. Gregory Mankiw, 1992. "Relative-Price Changes as Aggregate Supply Shocks," NBER Working Papers 4168, National Bureau of Economic Research, Inc.
  7. Braithwait, Steven D, 1980. "The Substitution Bias of the Laspeyres Price Index: An Analysis Using Estimated Cost-of-Living Indexes," American Economic Review, American Economic Association, vol. 70(1), pages 64-77, March.
  8. Michael F. Bryan & Stephen G. Cecchetti, 1994. "Measuring Core Inflation," NBER Chapters, in: Monetary Policy, pages 195-219 National Bureau of Economic Research, Inc.
  9. James H. Stock & Mark W. Watson, 1988. "A Probability Model of The Coincident Economic Indicators," NBER Working Papers 2772, National Bureau of Economic Research, Inc.
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