approaches for alternative implementations of an index that uses weighting that is comparable to the weighting used by the … Törnqvist superlative index in standard index number theory. This study shows exactly why the results may differ and discusses …

(2000) that a superlative index number formula be used to aggregate up vintages of capital rather than the usual assumption …

The Consumer Price Index does not take into account the fact that consumers alter the composition of their purchases in … December 1986 and December 1995. This bias could be eliminated by using a superlative index to aggregate prices across the item … for overcoming them. In particular, it shows how to construct an accurate approximation to a superlative price index that …

A number of analysts have claimed recently that the consumer price index overstates the annual increase in the cost of … living. This paper develops a framework for studying measurement problems in the consumer price index and systematically … show how better to measure medical care prices, the paper presents a prototypical price index for cataract surgery. This …

to the monetary authority. We implement this idea using a relatively modern statistical technique, a dynamic factor index … prices in the aggregate price statistic has introduced a downward bias in the U.S. Consumer Price Index on the order of …

relevant relative prices for a consumer who lives for many periods. The paper proposes a dynamic price index (DPI) that solves …

three independent components: idiosyncratic relative-price changes, a low-dimensional index of aggregate relative …-price changes, and an index of equiproportional changes in all inflation rates, that we label "pure" inflation. The paper estimates …-20% of the variability in inflation while our aggregate relative-price index accounts most of the rest. Conventional measures …

signals. The University of Michigan Social Media Job Loss Index tracks initial claims for unemployment insurance at medium and … government shutdown. Comparing the job loss index with the search and posting indexes indicates that the Beveridge Curve has been … shifting inward since 2011. The University of Michigan Social Media Job Loss index is update weekly and is available at http://econprediction.eecs.umich.edu/. …