This paper tests the published section-level price and weight data used in the compilation of the UK retail price index (RPI) for consistency with the theory of the cost-of-living index. We use a non-parametric test of theoretical consistency and bootstrap statistical methods to estimate the...

This paper presents an hedonic model of the price of a sample of new cars available in the UK during the period 1986 to 1995. It overcomes the problem of collinearity in the characteristics data by grouping them on a priori grounds and then using principal components analysis to generate group...

This paper uses revealed preference inequalities to provide tight nonparametric bounds on consumer responses to price changes. Price responses are allowed to vary nonparametrically across the income distribution by exploiting microdata on consumer expenditures and incomes over a finite set of...

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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...

Many budget surveys present the interesting feature that for a wide range of goods they contain information, not only on expenditures, but also on quantities consumed. This allows the computation of individual unit values for the spending of each household on any good for which this is true. The...

This paper uses revealed preference inequalities to provide tight nonparametric bounds on consumer responses to price changes. Price responses are allowed to vary nonparametrically across the income distribution by exploiting micro data on consumer expenditures and incomes over a finite set of...

This paper applies revealed preference theory to the nonparametric statistical analysis of consumer demand. It exploits the idea that price-taking individual households in the same market face the same relative prices, in order to smooth across the demands of individuals for each common price...

This paper uses revealed preference restrictions and nonparametric statistical methods to bound the true cost-of-living index which corresponds most closely to the UK Retail Prices Index (RPI). This is used to assess the RPI formula for substitution bias. We show that neither the direction nor...