| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15663 |
| DP15663 Sources of Bias in Inflation Rates and Implications for Inflation Dynamics | |
| Sarah Lein; Rahel Braun | |
| 发表日期 | 2021-01-12 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Official statistics measuring the cost of living are known to suffer from several biases. This paper shows that the size of the biases can vary with economic conditions. Using homescan data, it is first confirmed that official price indexes can be tracked using such granular datasets. While the often-acknowledged substitution bias is shown to be relatively small, neglected preference adjustment and product entry/exit results in a 2.6 percentage point bias in the annual inflation rate on average. Furthermore, the bias is particularly large in the aftermath of a shock to relative prices, increasing to 3.7 percentage points. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Homescan data Inflation measurement Bias in inflation indexes |
| URL | https://cepr.org/publications/dp15663 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544674 |
| 推荐引用方式 GB/T 7714 | Sarah Lein,Rahel Braun. DP15663 Sources of Bias in Inflation Rates and Implications for Inflation Dynamics. 2021. |
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