The presented considerations are an attempt to verify the possibility of using input-output tables for modeling and, as a consequence, to forecast inflation. The study is a continuation of previous simulation experiments performed on a limited statistical material. The study uses input-output...

The Hamilton method for estimating CPI bias is simple, intuitive, and has been widely adopted. We show that the method confiates CPI bias with variation in cost-of-living across income levels. Assuming a single price index across the income distribution is inconsistent with the downward sloping...

The paper presents a consumer price index for Denmark 1502-2007. For the post-1815 period the index is based on existing CPI figures whereas new data has been constructed for the pre-1815 period. For the earliest years 1502-1712 the new CPI covers only the price of corn, whereas the period...

We combine the ideas of the trimmed mean and the Edgeworth index to construct an alternative measure of core inflation named Trim of Most Volatile Components (TMVC). At each point of time this measure trims away the components of the price index, which have been most volatile in the past. TMVC...

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...

According to KENDRICK (1996, p. 1), National Accounts have become an indispensable tool for macroeconomic analysis, projections, and policy formulation. The paper elaborates on this statement, addressing policy domains that rely heavily on National Accounts data. Yet - useful as they are -...

Der Aufsatz gibt einen Überblick über die Quellen von Verzerrungen des US-amerikanischen Konsumentenpreisindexes (CPI) nach oben und unten und diskutiert die Massnahmen, die das Bureau of Labor Statistics ergriffen hat, um sie zu beseitigen. Die verbliebenen Verzerrungen werden quantifiziert....

Central banks analyze a wide range of data to obtain better measures of underlying inflationary pressures. Factor models have widely been used to formalize this procedure. Using a dynamic factor model this paper develops a measure of underlying inflation (UIG) at time horizons of relevance for...

How do house price changes affect the cost of living? The retail price index in the UK does not directly incorporate house price changes. Instead it uses mortgage interest to capture the cost of owning a home. This is a useful method from many perspectives. However, from a consumer welfare...