, Eurostat and the UN is shown to result in downward bias in the CPI and upward bias in real consumption. We conclude that the …

The main results of the analysis are as follows. 1) After correcting for measurement error, wages appear to be very … wage change is positively correlated with the unemployment rate and with the consumer price inflation rate …

This paper shows that conventional measures of cost-of-living inflation, based on static models of consumption, suffer … from two problems. The first is an intertemporal substitution bias, as these measures neglect the ability of consumers to …

exclusion of asset prices introduces an 'excluded goods bias' in the computation of the inflation statistic that is of interest …The debate over including asset prices in the construction of an inflation statistic has attracted renewed attention in … inflation at the retail level. In this paper, we take an alternative, longer-term perspective on the issue and argue that the …

In this paper, we investigate the use of limited-information estimators as measures of core inflation. Employing a …-sectional distribution of inflation can cause substantial noise in the aggregate price index at high frequencies. The model suggests that … limited-influence estimators, such as the median of the cross-sectional distribution of inflation, will provide superior short …

2017 to shed light on how online inflation compares to overall inflation, and to gauge the magnitude of new product bias … online. The Adobe data contain transaction prices and quantities purchased. We estimate that online inflation was about 1 … online, implies roughly 2 percentage points lower inflation than in a matched model/CPI-style index …

the CPI indicates that the CPI bias is not constant but depends on the level of inflation. We show the informativeness of …Official price indexes, such as the CPI, are imperfect indicators of inflation calculated using ad hoc price formulae … different from the theoretically well-founded inflation indexes favored by economists. This paper provides the first estimate of …

eliminates this bias, which is based on the percentile of sectoral inflation rates that matches the sample average of headline …The standard measure of core or underlying inflation is the inflation rate excluding food and energy prices. This paper … constructs an alternative measure, the weighted median inflation rate, for 38 advanced and emerging economies using subclass …

A recent literature has advanced the use of Engel curves to estimate overall CPI bias. In this paper, I show that the … methodology is sensitive to the modeling of household demography. Existing estimates of CPI bias do not account for the changing … effect of household size on budget shares, and this can lead to omitted variable bias. Since the effect of household size on …

Our overall conclusions are surprisingly consistent across sources and eras, that the CPI bias was roughly -1.0 percent … our view substantially narrows the range of possibilities regarding the history of CPI bias for rental shelter over the …