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A new consumer price index that incorporates housing

Author

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  • Klevmarken, Anders

    (Olle Grünewald and Henrik Allansson)

Abstract

A long lasting controversy in Sweden as well as internationally is how to best estimate a price on the services of owner occupied housing in a consumer price index. There is no international consensus and different approaches have been adopted. In this paper we use a true cost-of-living index suggested by one of the authors, apply the model to Swedish data and compare the results to the current Swedish CPI. We also show that within the economic model underlying the true cost-of-living index, alternative operationalizations of the index give rather different results. The choice between these alternatives depends upon the primary purpose of the index.

Suggested Citation

  • Klevmarken, Anders, 2009. "A new consumer price index that incorporates housing," Working Paper Series 2009:15, Uppsala University, Department of Economics.
    • Handle: RePEc:hhs:uunewp:2009_015
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    More about this item

    Keywords

    Price index; cost-of-living index; compensation index; price of housing services;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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