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Monday, February 3, 2020 | History

2 edition of Measurement bias in the Canadian consumer price index found in the catalog.

Measurement bias in the Canadian consumer price index

James Rossiter

Measurement bias in the Canadian consumer price index

  • 169 Want to read
  • 15 Currently reading

Published by Bank of Canada in Ottawa .
Written in English

    Subjects:
  • Consumer price indexes -- Canada -- Evaluation.

  • Edition Notes

    Statementby James Rossiter.
    SeriesBank of Canada working paper -- 2005-39, Working paper (Bank of Canada) -- 2005-39.
    ContributionsBank of Canada.
    The Physical Object
    Paginationv, 31 p. ;
    Number of Pages31
    ID Numbers
    Open LibraryOL21714314M

    When requesting a correction, please mention this item's handle: RePEc:bca:bcarev:vyi:summerp We show that much of the correlation between import prices and domestic prices was due to formula biases. However, the price index for Germany employs hedonic adjustment but falls at only the median rate for these countries. Statistics Canada tracks on a monthly-basis retail prices of around goods and services an average Canadian family purchases. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact:.

    The CPI is reported on a nationally, provincially and municipal level. If a reasonable number were given, though, there would be no adjustment. They received either a general, seemingly nonspecific anchor e. Second-hand purchases correspond to sales by other consumers. Furthermore, since strict logic is to be adhered to, there are durable services as well that ought to be treated in the same way; the service consumers derive from appendectomies or crowned teeth continue for a long time. This means: Taking account of the transaction prices agreed; Ignoring whether payments are delayed or are partly financed by borrowing; Leaving out second-hand transactions.

    This index has the appeal for the present study of being closer to mobile phones in scope than the CPI--as ofsmartphones dominated the Canadian mobile phone market according to IDC--and is calculated with retail prices from IDC. If a reasonable number were given, though, there would be no adjustment. This implies that important methodological differences have emerged between the U. The statistical sources required for regional and outlet-type breakdowns are usually weak. In addition, they were explicitly informed that anchoring would "contaminate" their responses, and that they should do their best to correct for that.


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Measurement bias in the Canadian consumer price index book

This would presumably mean deducting site value Measurement bias in the Canadian consumer price index book the price of a dwelling, site value presumably being defined as the price the site would fetch at auction if the dwelling were not on it. The CPI represents the cost of a basket of goods and services across the country on a monthly basis.

For example, it may be thought to help understanding and facilitate economic analysis if what is included under the heading of Consumption is the same in the consumer price index and in the national income and expenditure accounts. However, markups may differ across countries for a variety of reasons.

Nevertheless, relative to the country group used for this paper, the much smaller variation observed among HICPs does encourage the view that an effort to harmonize practices may reduce spurious cross-country variation even if the resulting alignment of methods is incomplete.

Abstract: Since the seminal work of Krugmanproduct variety has played a central role in models of trade and growth. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

Statistics Canada tracks on a monthly-basis retail prices of around goods and services an average Canadian family purchases.

In contrast, NSIs most commonly use cross-sectional regressions. As it happens, though, dispersion is unaffected: The standard deviation of these 12 country-specific average rates would be essentially unchanged.

They were asked whether Mahatma Gandhi died before or after age 9, or before or after age Information and Communications Technology ICT products led both to an increase in capital stock and labor productivity growth.

Therefore, this theory cannot, according to its critics, explain the anchoring effect. We consider three broad aspects of the methodology employed by NSIs: the scope of the published index shown, the treatment of quality change when new items are added to the index, and the index number formulas employed.

In some cases some of the data sources used may not be available annually, in which case some of the weights for lower level aggregates within higher level aggregates are based on older data than the higher level weights.

That is not the case for the countries studied here. Their CPIs vary wildly, ranging from no change for Japan to over 20 percent declines per annum for New Zealand and the United Kingdom UKon average, over a ten-year period from to figure 1, table 1.

Quite a few countries use the debt profile method, but in doing so most of them behave inconsistently. Our analysis differs from more pessimistic analyses in several dimensions. In the U. Judgmental adjustment informed by expert knowledge of the market is an intermediate approach.

Conclusion Getting prices right for ICT goods and services is essential to understanding the macroeconomy. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item.

If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below we will never spam you. Some countries have used a three-year average in recognition of the fact that household survey estimates are of poor quality. Current month prices are compared to a base year currently This index has the appeal for the present study of being closer to mobile phones in scope than the CPI--as ofsmartphones dominated the Canadian mobile phone market according to IDC--and is calculated with retail prices from IDC.

Silver and Heravi demonstrate that when the dispersion of the item prices used to calculate the index changes appreciably over time, a Dutot index and a Jevons index calculated with the same data can diverge significantly.

First, since David Caplovitz wrote his path-breaking book, The Poor Pay More, numerous researchers have confirmed that the poor indeed pay more than households of higher income for the goods and services they purchase.

In the aftermath even of immense shocks, a city typically recovers not only its population and its share of aggregate manufacturing, but even the specific industries it had before. The data underlying these results are mostly comprised of price indexes and price surveys of goods that may not be identical internationally.

Using a rich dataset covering million purchases of grocery items, we find that after controlling for store and shopping effects: 1 Aggregate grocery prices are lower in larger cities; 2 Residents of larger cities have access to substantially more varieties than residents of smaller cities; and 3 These forces combine to substantially lower variety adjusted prices in large cities.a.

Basic index number theory b. The theory of the cost-of-living c. The consumer price index i. Review from of first principles ii.

Board of Governors of the Federal Reserve System

Exploring the Canadian CPI and others iii. The ABCs of compiling the CPI d. Other price indices (excluding implicit price indexes) i. Industrial product price indices ii.

New House Price Index iii. Input price. Prospects and Policies for Innovation. and Productivity Growth. Kevin Fox. Some Recent Research (with Various Co-authors) 1. “Price Discounts and the Measurement of Inflation,” Journal of Econometrics (). 2. “A Newly Identified Source of Potential CPI Bias: Weekly versus Monthly Unit Value Consumer Price Index, All Groups.

The mismeasurement hypothesis and the productivity slowdown: the evidence. Author: Jack E. Triplett: W., and M. J.

Publications and Working Papers

Harper. Possible measurement bias in aggregate productivity growth. Monthly Labor Review (2): Housing depreciation and aging bias in the consumer price index. Bureau of Labor Statistics Working Paper Cited by: 4. The first finding characterizes the dynamics of consumer price index (CPI)-based real exchange rates (RER), that is the ratio of consumer prices across countries in a common currency, and its relation to nominal exchange rates (NER).Cited by: Nielsen’s measurement prowess spans an array of sectors and categories, but TV measurement is what most consumers know us for, particularly in the U.S.

After all, we’ve been measuring television audiences sinceand TV programming is just as vital to the American media diet as it was back.

Anchoring or focalism is a cognitive bias where an individual depends too heavily on an initial piece of information offered (considered to be the "anchor") when making decisions. Anchoring occurs when, during decision making, an individual depends on an initial piece of information to make subsequent sylvaindez.com objects near the anchor tend to be assimilated toward it and those further.