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The U.S. CPI is based on the Laspeyres price index, an index type that has an upward "substitution bias." Thus, the CPI … Price Index recommended adopting for the CPI a "superlative" price index, e.g., the Fisher or Tornqvist indices. Under the …" cost-of-living index (COLI)--than the Laspeyres index, but this assumption implies that: all income elasticities equal 1 …

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Financial statistics / Explanatory handbook : ... edition

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Macroeconometric Models

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This book gives a comprehensive description of macroeconometric modeling and its development over time. The first part depicts the history of macroeconometric model building, starting with Jan Tinbergen's and Lawrence R. Klein's contributions. It is unique in summarizing the development and...