Working to Improve the Consumer Price Index

Katharine G. Abraham · John Greenlees · Brent R. Moulton

92 citations0/0 files storedThe Journal of Economic Perspectives

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Monetary Policy and Economic Impact Labor market dynamics and wage inequality Income, Poverty, and Inequality

Abstract

In this paper, we first comment on the recent (1996) report of the Advisory Commission to Study the Consumer Price Index, appointed by the U.S. Senate Finance Committee, and the recommendations it contains. We then describe some of the initiatives currently underway at the Bureau of Labor Statistics—some of which were undertaken before the appearance of the Advisory Commission's report, others of which are part of a Consumer Price Index improvement initiative that was included as part of the President's 1998 budget proposal—which attempted to address the bias issues that were highlighted by the Advisory Commission.

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References

1957Technical Change and the Aggregate Production Function 1965A Theory of the Allocation of Time 1976A New Approach to Consumer Theory 1933The Economics of Welfare 1995Automobile Prices in Market Equilibrium 2015Theory of Cost and Production Functions 1928A Theory of Production 1976Exact and superlative index numbers

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2005Assessing the Productivity of the UK Retail Sector 1999Measuring New Zealand's Productivity 2000Chapter 3 Medical care prices and output 1999Cellular Telephone, New Products, and the CPI 2001Scanner Data and the Measurement of Inflation 2000The Boskin Commission Report and its Aftermath 2001The Expanding Role of Hedonic Methods in the Official Statistics of the United States

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