Application of The Original Price Index Formula to Measuring the Cpi’s Commodity Substitution Bias
Application of The Original Price Index Formula to Measuring the Cpi’s Commodity Substitution Bias
Author(s): Jacek BiałekSubject(s): Economy
Published by: Główny Urząd Statystyczny
Keywords: CPI;COLI;superlative index;Laspeyres index;Fisher index
Summary/Abstract: This paper examines a possibility to apply the original price index formula to measuring the commodity substitution bias associated with the Consumer Price Index (CPI). Through simulation study the CPI bias values - calculated by using the original price index formula – is compared with those calculated on the basis of some known, superlative price indices.
Journal: Statistics in Transition. New Series
- Issue Year: 15/2014
- Issue No: 1
- Page Range: 83-96
- Page Count: 14
- Language: English