The U.S. inflation measures, such as the Consumer Price Index, are adjusted for rent depreciation based on a 1988 … old and small houses, respectively. Our result suggests that local inflation rates are biased downward where new and large …

We provide an explanation of how inflation of the price of housing services is measured by the Bureau of Labor … Statistics and describe alternative approaches. We then describe the contribution of inflation of the price of housing services … to inflation in the consumer price index during the Great Recession and its aftermath. Finally, we examine new data …

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 …

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 …