Castillo, Javier Ruiz; Ley, Eduardo; Izquierdo, Mario - International Monetary Fund (IMF) - 2000
We define the plutocratic bias as the difference between inflation measured according to the current official CPI and a democratic index in which all households receive the same weight. We estimate that during the 1990s the plutocratic bias in Spain amounts to 0.055 percent per year. However,...