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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

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

A Nonparametric Method for Valuing New Goods

Blow, Laura; Crawford, Ian - 2021

This paper presents a revealed preference method for calculating a lower bound on the virtual or reservation price of a new good and suggests a way to improve these bounds by using budget expansion paths. This allows the calculation of cost-of-living and price indices when the number of goods...

Persistent link: https://www.econbiz.de/10013320238

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

A nonparametric bound on substitution bias in the UK retail prices index

Blow, Laura; Crawford, Ian - 1999

Persistent link: https://www.econbiz.de/10001391540

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

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

Vehicle currency pricing and exchange rate pass-through

Chen, Natalie; Chung, Wanyu; Novy, Dennis - 2019

Persistent link: https://www.econbiz.de/10012016788

Does money matter in the IS curve? The case of the UK

Jones, Barry E.; Stracca, Livio - 2008

Narrow and broad money measures (including Divisia aggregates) have been found to have explanatory power for UK output in backward-looking specifications of the IS curve. In this paper, we explore whether or not real balances enter into a forward-looking IS curve for the UK, building on the...

Persistent link: https://www.econbiz.de/10011604950

Closing the gap between absolute and relative measures of localization, concentration or specialization

Bickenbach, Frank; Bode, Eckhardt; Krieger-Boden, Christiane - 2010

This paper solves one of the puzzles in the analysis of regional and industrial distributions of economic activity, the discrepancy between absolute and relative measures. It shows that the difference between an absolute and a relative Theil index of localization can be expressed in terms of...

Persistent link: https://www.econbiz.de/10010272103

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