Artikel
Retrospective Price Indices and Substitution Bias
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 superlative ones if possible. Unfortunately, the necessary data are often missing. This paper proposes a simple method to retroactively compute the CPI once updated weights become available. The proposed index has the Fisher form. This makes it possible to assess the size of the substitution bias. An application to Swiss data is provided.
- Sprache
-
Englisch
- Erschienen in
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Journal: Swiss Journal of Economics and Statistics ; ISSN: 2235-6282 ; Volume: 145 ; Year: 2009 ; Issue: 2 ; Pages: 127-135 ; Heidelberg: Springer
- Klassifikation
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Wirtschaft
Index Numbers and Aggregation; Leading indicators
Price Level; Inflation; Deflation
- Thema
-
Price index
inflation
superlative indices
substitution bias
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Diewert, Walter Erwin
Huwiler, Marco
Kohli, Ulrich
- Ereignis
-
Veröffentlichung
- (wer)
-
Springer
- (wo)
-
Heidelberg
- (wann)
-
2009
- DOI
-
doi:10.1007/BF03399277
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Diewert, Walter Erwin
- Huwiler, Marco
- Kohli, Ulrich
- Springer
Entstanden
- 2009
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