Chain drift is the difference between the rate of change calculated by chaining an index over a multi period interval and that obtained using endpoints only. More generally, different linking intervals yield different estimates. In this paper, procedures are suggested for evaluating the severity...

An aspect of globalization that has attracted increased attention in recent years is trade in intermediate inputs associated with the fragmentation of production across national borders. This trade takes the form of intrafirm transactions when production stages in different countries are...

The Bureau of Labor Statistics (BLS) prepares the Consumer Price Index for All Urban Consumers (CPI-U), and the Bureau of Economic Analysis prepares the Personal Consumption Expenditures (PCE) chain-type price index. Both indexes measure the prices paid by consumers for goods and services....