A non-parametric bound on substitution bias in the UK retail prices index
This paper uses revealed preference restrictions and nonparametric statistical methods to bound true cost-of-living indices. These are compared to the popular price indices including the type used to calculated the UK RPI. This is used to assess the method of calculating the RPI for substitution bias.
|Date of creation:||May 1999|
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- A. P. Lerner, 1935. "A Note on the Theory of Price Index Numbers," Review of Economic Studies, Oxford University Press, vol. 3(1), pages 50-56.
- repec:oup:restud:v:50:y:1983:i:1:p:99-110 is not listed on IDEAS
- Robinson, Peter M, 1988. "Root- N-Consistent Semiparametric Regression," Econometrica, Econometric Society, vol. 56(4), pages 931-54, July.
- Diewert, W. E., 1976. "Exact and superlative index numbers," Journal of Econometrics, Elsevier, vol. 4(2), pages 115-145, May.
- Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-73, July.
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