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Estimating UK regional price indices, 1974-96

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  • Peter Hayes

Abstract

Hayes P. (2005) Estimating UK regional price indices, 1974-96, Regional Studies 39 , 333-344. This paper examines the behaviour and construction of regional expenditure indices published in the Croner-Reward Regional Cost of Living Surveys for 1974-96. It identifies a number of problems in using these data as an appropriate deflator to the New Earnings Survey regional wages series in examining labour supply-side decisions. Instead, an alternative method with which to construct regional prices is recommended using a combination of data from Croner-Reward, from the published Retail Price Index (RPI) and from the Expenditure and Food Survey (EFS) (formerly known as the Family Expenditure Survey). Whilst these new data suggest that regional inflation rates were not significantly different from one another over the sample period, they point to an episode of increased regional price variation over the late 1980s and early 1990s. This paper suggests that these alternative indices would be of interest when examining adjustment processes to economic shocks across the regions of the UK.

Suggested Citation

  • Peter Hayes, 2005. "Estimating UK regional price indices, 1974-96," Regional Studies, Taylor & Francis Journals, vol. 39(3), pages 333-344.
  • Handle: RePEc:taf:regstd:v:39:y:2005:i:3:p:333-344
    DOI: 10.1080/00343400500087216
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    References listed on IDEAS

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    1. David G. Blanchflower & Andrew J. Oswald, 1995. "The Wage Curve," MIT Press Books, The MIT Press, edition 1, volume 1, number 026202375x, January.
    2. Salvador Barrios & Marius Br¸lhart & Robert J.R. Elliott & Marianne Sensier, 2003. "A Tale of Two Cycles: Co-Fluctuations Between UK Regions and the Euro Zone," Manchester School, University of Manchester, vol. 71(3), pages 265-292, June.
    3. Hyclak, Thomas & Johnes, Geraint, 1992. "Regional Wage Inflation and Unemployment Dynamics in Great Britain," Scottish Journal of Political Economy, Scottish Economic Society, vol. 39(2), pages 188-200, May.
    4. Fielding, David & Shields, Kalvinder, 2003. "A nation divided? Price and output dynamics in English regions," Economic Modelling, Elsevier, vol. 20(3), pages 651-677, May.
    5. Alastair Cunningham, 1996. "Measurement Bias in Price Indices: An Application to the UK's RPI," Bank of England working papers 47, Bank of England.
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    Cited by:

    1. repec:spr:empeco:v:52:y:2017:i:4:d:10.1007_s00181-016-1122-4 is not listed on IDEAS
    2. repec:spr:anresc:v:58:y:2017:i:3:d:10.1007_s00168-017-0813-x is not listed on IDEAS
    3. Gluschenko, Konstantin & Karandashova, Maria, 2016. "Price Levels across Russian Regions," MPRA Paper 75041, University Library of Munich, Germany.
    4. Alberto Montagnoli & Jun Nagaysu, 2013. "An investigation of housing affordability in the UK regions," Working Papers 1316, University of Strathclyde Business School, Department of Economics.
    5. Cinzia Rienzo, 2017. "Real wages, wage inequality and the regional cost-of-living in the UK," Empirical Economics, Springer, vol. 52(4), pages 1309-1335, June.
    6. Michael Beenstock & Daniel Felsenstein, 2007. "Mobility and Mean Reversion in the Dynamics of Regional Inequality," International Regional Science Review, , vol. 30(4), pages 335-361, October.

    More about this item

    Keywords

    Regions; Cost of living indices; Prices; Expenditure and variability; Regions; Indices du cout de la vie; Prix; Depenses; Variation; Regionen; Lebensunterhaltsindex; Preise; Ausgaben und Variabilitat; Regiones; Indices de coste de la vida; Precios; Gastos y variabilidad; JEL classifications: R10; R12; J31;

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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