indices. Since the matched model index does not incorporate price changes for goods which exit, and the goods that exited tend … to be those goods whose prices fall, the matched model index has a selection problem which biases it upwards. The hedonic … index does not have this problem. We illustrate with a new study of price indices for PC's. The hedonic index shows steep …

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 …

probability sampling of prices in 1978, the micro price quotations were aggregated together using an index number formula that … choice of an index number formula to aggregate prices at the finest level of disaggregation. This issue is examined from both …

No cross-sectional consumer price index is currently available by state, and the BLS's cross-sectional "family budget …" index for metropolitan areas is not well-suited for cross-state analyses. In this paper we propose an algorithm for … constructing a state-specific Laspeyres price index using conveniently available information from the Census of Business and the …

Price Index (CPI) is of minor importance compared with the bias introduced by new products, changes in the quality of …

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 …

The prescription drug component of the Consumer Price Index (CPI measures recent and past drug price changes, and …

) insufficient information disclosure. In the analysis of CPI bias, we limit our focus to potential biases due to aggregation, survey …

first, a Service Price Index, prices specific medical services, as does the current CPI. The second, a Cost of Living Index …. Because of technological change and increasing price discounts, the current CPI overstates a chain-weighted price index by … three percentage points annually. For plausible values of an additional life-year, the real Cost of Living Index fell about …