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At what price? : conceptualizing and measuring cost-of-living and price indexes / Panel on Conceptual, Measurement, and Other Statistical Issues in Developing Cost-of-Living Indexes ; Charles L. Schultze and Christopher Mackie, editors ; Committee on National Statistics, Division of Behavioral and Social Sciences and Education, National Research Council.
Lippincott Library HB235.U6 A86 2002
Available
- Format:
- Book
- Language:
- English
- Subjects (All):
- Consumer price indexes--United States.
- Consumer price indexes.
- Prices.
- Statistics.
- Cost and standard of living.
- United States.
- Cost and standard of living--United States--Statistical methods.
- Prices--United States--Statistical methods.
- Economic indicators--United States.
- Economic indicators.
- Index numbers (Economics).
- Physical Description:
- xiii, 332 pages ; 24 cm
- Place of Publication:
- Washington, DC : National Academy Press, [2002]
- Contents:
- A COGI Versus a COLI 2
- The Scope or Domain of the Index 3
- Aggregation 4
- Accounting for Substitution Behavior 5
- Quality Change 6
- New Goods 7
- Outlets 8
- Pricing Medical Care 9
- Index Design and Index Purpose 10
- Data Collection 11
- Panel Charge and Report Organization 17
- Alternative Approaches: A COGI Versus a COLI 18
- Domain of the CPI 19
- Substitution 21
- Aggregation 26
- Changes in the Quality of Goods 27
- New Goods 30
- Outlet Substitution 32
- Stocks and Flows 33
- Index Purpose and Design 35
- Data Collection 36
- 2 Conceptual Foundations for Price and Cost-of-Living Indexes 38
- Setting the Stage: What Are Price Indexes? 41
- The Theory of Price Indexes and Its Critics 43
- Two Perspectives 57
- Technical Note: A Mathematical Approach to Price Indexes 74
- 3 Index Domain 94
- An Unconditional COLI: Conceptual Issues 96
- Measurement Problems 98
- Supplemental Indexes and Satellite Accounts 101
- Other Domain Issues 102
- 4 Evolving Market Baskets: Adjusting Indexes to Account for Quality Change 106
- COLI and COGI Views of the Quality Change Problem 109
- Evidence from the Boskin Commission Report 112
- BLS Approaches to Quality Changes 114
- Hedonic Regression Methods 122
- Cautions and Recommendations 140
- Technical Note 1 Boskin Commission Estimates of Quality Change and New Goods Bias 146
- Technical Note 2 Mathematical Description of Hedonic Methods 149
- 5 New Goods and New Outlets 155
- New Goods 155
- New Outlets 167
- 6 The Special Case of Medical Services 178
- Conceptual and Measurement Issues 181
- The Domain of Consumer Health Expenditures: Employers' Health Insurance Payments 185
- Direct Pricing of Health Insurance 186
- 7 Index Design and Index Purpose 191
- Indexing Public Transfer Payments 192
- Wage Bargains and Indexed Wages 207
- Indexing Private Contracts 208
- Inflation-Indexed Treasury Securities 210
- Indexing the Federal Income Tax System 212
- Measuring Output Changes 214
- Inflation Indicators for Macroeconomic Policy 216
- Technical Note: The CPI Versus the NIPA Price Index as an Inflation Measure 219
- 8 Whose Index? Aggregating Across Households 222
- Two Kinds of Heterogeneity 223
- Heterogeneity in Prices Paid and in Rates of Inflation 225
- The Consequences of Heterogeneity for Index Construction 226
- Group Indexes: Why the Current Data Collection System Cannot Produce Them 226
- A Price Index for the Elderly? 228
- The Conceptual Basis for Group Indexes 229
- How Might Data for Subgroup Indexes Be Assembled and What Would It Cost? 232
- Suggested Research and Testing 235
- Plutocratic Versus Democratic Weights 237
- Summary and Recommendation 240
- Technical Note 1 Aggregation and the "Representative Consumer" 241
- Technical Note 2 Do Inflation Rates Differ by Age or Income Group? 246
- 9 Data Collection for CPI Construction 252
- The Current Data Collection Process 253
- Alternative Data Collection Approaches 264
- Technical Note: Additional Description of CPI Data Inputs 276
- Appendix Statistical Definition and Estimation of Price Indexes 283.
- Notes:
- Includes bibliographical references (pages 293-305) and index.
- ISBN:
- 0309074428
- OCLC:
- 48494170
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