IDEAS home Printed from https://ideas.repec.org/a/tcb/cebare/v11y2011i1p1-9.html
   My bibliography  Save this article

Kalite Artislari ve Enflasyon : Turkiye Ornegi

Author

Listed:
  • Yavuz Arslan
  • Evren Ceritoglu

Abstract

In this study, average quality growth and upward inflation bias are estimated for a set of 51 goods by using six waves of TURKSTAT Household Budget Surveys from 2003 to 2008 and consumer prices in Turkey. Using instrumental variables approach suggested by Bils and Klenow (2001), the annual average quality growth for these items over this period is estimated to be 3.88 percent, of which 2.03 percentage points have shown up as in consumer price inflation.

Suggested Citation

  • Yavuz Arslan & Evren Ceritoglu, 2011. "Kalite Artislari ve Enflasyon : Turkiye Ornegi," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 11(1), pages 1-9.
    • Handle: RePEc:tcb:cebare:v:11:y:2011:i:1:p:1-9
    as

    Download full text from publisher

    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Central+Bank+Review/2011/Volume+11-1/
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Yavuz Arslan & Evren Ceritoğlu, 2013. "Quality Growth Versus Inflation in Turkey," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 49(2), pages 31-43, March.
    2. Brent R. Moulton & Karin E. Moses, 1997. "Addressing the Quality Change Issue in the Consumer Price Index," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(1), pages 305-366.
    3. Mark Bils & Peter J. Klenow, 2001. "Quantifying Quality Growth," American Economic Review, American Economic Association, vol. 91(4), pages 1006-1030, September.
    4. Filho, Irineu de Carvalho & Chamon, Marcos, 2012. "The myth of post-reform income stagnation: Evidence from Brazil and Mexico," Journal of Development Economics, Elsevier, vol. 97(2), pages 368-386.
    5. Mehmet Yörükoglu, 2010. "Difficulties in inflation measurement and monetary policy in emerging market economies," BIS Papers chapters, in: Bank for International Settlements (ed.), Measurement of inflation and the Philippine monetary policy framework, volume 49, pages 369-389, Bank for International Settlements.
    6. Jerry Hausman, 2003. "Sources of Bias and Solutions to Bias in the Consumer Price Index," Journal of Economic Perspectives, American Economic Association, vol. 17(1), pages 23-44, Winter.
    7. Fethi Ogunc, 2009. "Dayanikli Tuketim Mali Fiyat Dinamikleri," Working Papers 0908, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    8. Bruce W. Hamilton, 2001. "Using Engel's Law to Estimate CPI Bias," American Economic Review, American Economic Association, vol. 91(3), pages 619-630, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Svedberg, Peter & Tilton, John E., 2006. "The real, real price of nonrenewable resources: copper 1870-2000," World Development, Elsevier, vol. 34(3), pages 501-519, March.
    2. Filho, Irineu de Carvalho & Chamon, Marcos, 2012. "The myth of post-reform income stagnation: Evidence from Brazil and Mexico," Journal of Development Economics, Elsevier, vol. 97(2), pages 368-386.
    3. Ingvild Almås & Timothy K.M. Beatty & Thomas F. Crossley, 2018. "Lost in Translation: What do Engel Curves Tell us about the Cost of Living?," CESifo Working Paper Series 6886, CESifo.
    4. Cook, Jonathan Aaron, 2013. "Does Chinese Inflation Understate Cost of Living?," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150571, Agricultural and Applied Economics Association.
    5. Chamon, Marcos & de Carvalho Filho, Irineu, 2014. "Consumption based estimates of urban Chinese growth," China Economic Review, Elsevier, vol. 29(C), pages 126-137.
    6. Andrew Dabalen & Isis Gaddis & Nga Thi Viet Nguyen, 2020. "CPI Bias and its Implications for Poverty Reduction in Africa," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 18(1), pages 13-44, March.
    7. Scanlon, Paul, 2019. "New goods and asset prices," Journal of Financial Economics, Elsevier, vol. 132(3), pages 140-157.
    8. Trevon D. Logan, 2008. "Are Engel Curve Estimates of CPI Bias Biased?," NBER Working Papers 13870, National Bureau of Economic Research, Inc.
    9. David E. Lebow & Jeremy B. Rudd, 2003. "Measurement Error in the Consumer Price Index: Where Do We Stand?," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 159-201, March.
    10. Svedberg, Peter, 2003. "World Income Distribution: Which Way?," Seminar Papers 724, Stockholm University, Institute for International Economic Studies.
    11. Timothy K.M. Beatty & Erling Røed Larsen, 2005. "Using Engel curves to estimate bias in the Canadian CPI as a cost of living index," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 38(2), pages 482-499, May.
    12. David Atkin & Benjamin Faber & Thibault Fally & Marco Gonzalez-Navarro, 2024. "Measuring Welfare and Inequality with Incomplete Price Information," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 139(1), pages 419-475.
    13. Bruce D. Meyer & James X. Sullivan, 2009. "Five Decades of Consumption and Income Poverty," Working Papers 0907, Harris School of Public Policy Studies, University of Chicago.
    14. Oleksiy Kryvtsov, 2016. "Is there a quality bias in the Canadian CPI? Evidence from microdata," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 49(4), pages 1401-1424, November.
    15. Almås, Ingvild & Johnsen, Åshild Auglænd, 2012. "The cost of living in China: Implications for inequality and poverty," Discussion Paper Series in Economics 21/2012, Norwegian School of Economics, Department of Economics.
    16. Josef C. Brada & Jan KubÃ­Ä ek & Ali M. Kutan & Vladimír Tomšík, 2015. "Inflation Targeting: Insights from Behavioral Economics," Eastern European Economics, Taylor & Francis Journals, vol. 53(5), pages 357-376, September.
    17. Emi Nakamura & Jón Steinsson & Miao Liu, 2016. "Are Chinese Growth and Inflation Too Smooth? Evidence from Engel Curves," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(3), pages 113-144, July.
    18. Kuchler, Fred & Stewart, Hayden, 2008. "Price Trends Are Similar for Fruits, Vegetables, and Snack Foods," Economic Research Report 56447, United States Department of Agriculture, Economic Research Service.
    19. Marshall Reinsdorf & Jack E. Triplett, 2009. "A Review of Reviews: Ninety Years of Professional Thinking About the Consumer Price Index," NBER Chapters, in: Price Index Concepts and Measurement, pages 17-83, National Bureau of Economic Research, Inc.
    20. Masashige Hamano & Francesco Zanetti, 2018. "On Quality and Variety Bias in Aggregate Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(6), pages 1343-1363, September.

    More about this item

    Keywords

    Inflation rates; Quality bias;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tcb:cebare:v:11:y:2011:i:1:p:1-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge or the person in charge or the person in charge or the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/tcmgvtr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.