G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15663
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
URLhttps://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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