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We define the plutocratic bias as the difference between inflation measured according to the current official CPI and a … democratic index in which all households receive the same weight. We estimate that during the 1990s the plutocratic bias in Spain … mean absolute bias is significantly larger, 0.090. We can explain most of the oscillations experimented by the plutocratic …
Persistent link: https://www.econbiz.de/10014400237
The recent Boskin Commission Report (1996) underscores a significant upward bias in CPI measurement in the United …
Persistent link: https://www.econbiz.de/10014401311
COVID-19 changed consumers' spending patterns, making the CPI weights suddenly obsolete. In most regions, adjusting the CPI weights to account for the changes in spending patterns increases the estimate of inflation over the early months of the pandemic. Under-weighting of rising food prices and...
Persistent link: https://www.econbiz.de/10012392420
Labor market indicators are critical for policymakers, but measurement error in labor force survey data is known to be … which respondents misreport their true labor force status. Once I correct for measurement error using a latent variable …
Persistent link: https://www.econbiz.de/10012009388
satellite-recorded nighttime lights as an additional measurement of true GDP per capita, we provide a statistical framework, in … results for measurement error models to identify and estimate the nonlinear relationship between nighttime lights and true GDP …
Persistent link: https://www.econbiz.de/10012019789
Intuitively core inflation is understood as a measure of inflation where noisy price movements are avoided. This is typically achieved by either excluding or downplaying the importance of the most volatile items. However, some of those items show high persistence, and one certainly does not want...
Persistent link: https://www.econbiz.de/10014411919
represent a major improvement, several measurement or interpretation issues remain, reflecting various potential index number …
Persistent link: https://www.econbiz.de/10014398200
Persistent link: https://www.econbiz.de/10011282718
This paper provides an overview of statistical measurement issues relating to alternative measures of core inflation …, and the criteria for choosing among them. The approaches to measurement considered include exclusion-based methods …
Persistent link: https://www.econbiz.de/10014400370
This paper reviews alternative approaches to measuring an economy''s cost competitiveness and proposes some new measures inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real effective exchange rates, but differ from standard measures in...
Persistent link: https://www.econbiz.de/10014400395