Handbury, Jessie; Watanabe, Tsutomu; Weinstein, David E. - 2015
economics to build a Törnqvist inflation index for Japan between 1989 and 2010. Our comparison of this true inflation index with …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 …