The consumer price index (CPI) is usually computed as a fixed-weighted Laspeyres price index, with the weights updated at discrete intervals only. It is well known that the Laspeyres functional form entails a substitution bias. One way to reduce it would be to use chained indices, and...

Exogene Geldmenge, monetäres (Un-)Gleichgewicht und Erwartungslags Dieser Aufsatz befaßt sich mit dem Problem der Schätzung von Geldnachfragefunktionen während Perioden monetärer Kontrolle. Wie David Laidler kürzlich ausgeführt hat, ist der übliche Ansatz, der einen partiellen...

This report was prepared for the Department of Labour, Reserve Bank of New Zealand and Treasury by Dr Denis Lawrence (Tasman Asia Pacific) and Professor Erwin Diewert (University of British Columbia) under contract. The authors examine New Zealand's market sector productivity performance using...

The Harmonized Index of Consumer Prices (HICP) is the single most important indicator of inflation used by the European Central Bank. Sections 2 to 4 of the paper look at the theory of inflation indexes that could be used as target indexes of inflation. A Consumer Price Index (CPI) emerges as...