An indexed unit of account is a unit of measurement defined using an index such as a consumer price index so that prices defined in terms of these units will automatically adjust to changing economic conditions. Evidence on sticky prices and money illusion, and evidence from countries (notably...

In this paper, the factor model is used to explore the importance of the monthly macroeconomic variables and Google Trend index in forecasting the Taipei House Price Index. In particular, We consider different settings of constructing the factors, including the traditional factor model, squared...

Article Classification: Research Paper (Construction or testing of a model or framework).Purpose: The repeat sales house price index has been widely used to measure house price movements on the assumption that the quality of properties does not change over time. This study aims to develop a...

A common approach to measuring price changes is to look at the change of the expenditure needed to purchase a fixed basket of goods. It is well-known that this approach suffers from problems and creates several biases in the measurement of price changes faced by consumers. Substitution and...

Many price indices must be constructed without quantity data at the elementary level. We show that for some consumer goods in the United States and other countries, one can approximate expenditure shares using weights derived from the retail distribution of sellers. These weights are based on...

No cross-sectional consumer price index is currently available by state, and the BLS's cross-sectional "family budget" index for metropolitan areas is not well-suited for cross-state analyses. In this paper we propose an algorithm for constructing a state-specific Laspeyres price index using...

Economic Policy Uncertainty (EPU) is a critical indicator in economic studies, while it can be used to forecast a recession. Under higher levels of uncertainty, firms’ owners cut their investment, which leads to a longer post-recession recovery. EPU index is computed by counting news articles...

This paper examines how normative reasoning was applied to empirical applications of different indicator options in order to revise the global Multidimensional Poverty Index (MPI) indicators in 2018, to better align with the SDGs. Given the emphasis in the SDGs on leaving no one behind, the...

In this paper we derive the standard error of a price index when both prices and tastes or technology are treated as stochastic. Changing tastes or technology are a reason for the weights in the price index to be treated as stochastic, which can interact with the stochastic prices themselves. We...