Bryan, Michael F.; Cecchetti, Stephen G.; O'Sullivan, Roisin - 2021
The debate over including asset prices in the construction of an inflation statistic has attracted renewed attention in … inflation at the retail level. In this paper, we take an alternative, longer-term perspective on the issue and argue that the … exclusion of asset prices introduces an 'excluded goods bias' in the computation of the inflation statistic that is of interest …
