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
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.
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Volume (Year): 225 (2005)
Issue (Month): 4 (August)
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