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Lost in translation : what do Engel curves tell us about the cost of living?
Almås, Ingvild; Beatty, Timothy K.M.; Crossley, Thomas F. - 2018
The Hamilton method for estimating CPI bias is simple, intuitive, and has been widely adopted. We show that the method … confiates CPI bias with variation in cost-of-living across income levels. Assuming a single price index across the income … implement the Translated Engel curve (TEC) method that disentangles genuine CPI bias from differences caused by comparing …
Persistent link: https://www.econbiz.de/10011794248
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A nonparametric bound on substitution bias in the UK retail prices index
Blow, Laura; Crawford, Ian - 1999
Persistent link: https://www.econbiz.de/10001391540
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A retail price index including the shadow price of owner occupied housing
Blow, Laura; Nesheim, Lars - 2009
How do house price changes affect the cost of living? The retail price index in the UK does not directly incorporate house price changes. Instead it uses mortgage interest to capture the cost of owning a home. This is a useful method from many perspectives. However, from a consumer welfare...
Persistent link: https://www.econbiz.de/10003817246
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The Justification for the Retail Prices Index
Courtney, Mark - 2015
Consumer Prices was renamed the Consumer Prices Index (CPI) and made the inflation target for the Bank of England, and from … Statistics Authority confirmed in January 2012 that both the RPI and CPI were “national statistics” that were “produced according …
Persistent link: https://www.econbiz.de/10014139164
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Inflation Bias after the Euro : Evidence from the UK and Italy
Marini, Giancarlo; Piergallini, Alessandro; … - 2010
This paper presents an indirect approach to investigate the possible existence of measurement error bias in the Harmonized Index of Consumer Prices for the UK and Italy. Our empirical results show that there is no significant evidence for a bias in the UK, nor for Italy prior to the introduction...
Persistent link: https://www.econbiz.de/10014069180
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Lost in Translation : What Do Engel Curves Tell Us About the Cost of Living?
Almås, Ingvild - 2018
The Hamilton method for estimating CPI bias is simple, intuitive, and has been widely adopted. We show that the method … confiates CPI bias with variation in cost-of-living across income levels. Assuming a single price index across the income … implement the Translated Engel curve (TEC) method that disentangles genuine CPI bias from differences caused by comparing …
Persistent link: https://www.econbiz.de/10012922658
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A nonparametric bound on substitution bias in the UK retail prices index
Blow, Laura; Crawford, Ian - 1999
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...
Persistent link: https://www.econbiz.de/10011538411
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Vehicle currency pricing and exchange rate pass-through
Chen, Natalie; Chung, Wanyu; Novy, Dennis - 2019
Persistent link: https://www.econbiz.de/10012016788
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Vehicle currency pricing and exchange rate pass-through
Chen, Natalie; Chung, Wanyu; Novy, Dennis - 2019
Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive, with more than half of transactions in our sample invoiced in neither sterling nor the exporter's currency. We then study the relationship between invoicing currency choices and...
Persistent link: https://www.econbiz.de/10012029070
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Comparing household inflation experiences measured by the CPI and RPI
Levell, Peter; Skingle, Thomas - 2012
Prices Index (RPI) should be changed to bring them closer in line to those used in the Consumer Prices Index (CPI). Previous … to calculate RPI-based measures of household-specific inflation. This paper analyses whether CPI-based measures give … implemented before. We find that, after stripping out housing costs, there are only small differences between RPI and CPI …
Persistent link: https://www.econbiz.de/10009656221