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Verzerrungen von Konsumentenpreisindices und ihr Einfluss auf das „reale“ Wirtschaftswachstum – dargestellt am Beispiel der USA / Biases in Consumer Price Indices and Their Impact on „Real“ Economic Growth – Illustrated by the Example of the United States

Author

Listed:
  • Hartwig Jochen

    (Konjunkturforschungsstelle der ΕΤΗ Zürich, ΕΤΗ Zentrum WEH, CH-8092, Zürich, Germany)

  • Schips Bernd

    (Konjunkturforschungsstelle der ΕΤΗ Zürich, ΕΤΗ Zentrum WEH, CH-8092, Zürich, Germany)

Abstract

The paper reviews the sources of „Upward bias“ and „Downward bias“ in the US-Consumer 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.

Suggested Citation

  • Hartwig Jochen & Schips Bernd, 2005. "Verzerrungen von Konsumentenpreisindices und ihr Einfluss auf das „reale“ Wirtschaftswachstum – dargestellt am Beispiel der USA / Biases in Consumer Price Indices and Their Impact on „Real“ Economic G," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 225(4), pages 394-412, August.
    • Handle: RePEc:jns:jbstat:v:225:y:2005:i:4:p:394-412
    DOI: 10.1515/jbnst-2005-0403
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    Cited by:

    1. Hartwig Jochen, 2006. "Messprobleme bei der Ermittlung des Wachstums der Arbeitsproduktivität - dargestellt anhand eines Vergleichs der Schweiz mit den USA / Measurement Problems with Respect to Labour Productivity Growth -," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 226(4), pages 418-435, August.
    2. Jochen Hartwig, 2010. "Baumol's Diseases: The Case of Switzerland," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 146(III), pages 533-552, September.

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