The Consumer Price Index: Conceptual Issues and Practical Suggestions


The Substitution Issue and the Debate over a Cost-of-Living Index



Download 111,87 Kb.
Pdf ko'rish
bet4/19
Sana31.12.2021
Hajmi111,87 Kb.
#229855
1   2   3   4   5   6   7   8   9   ...   19
Bog'liq
amerika

The Substitution Issue and the Debate over a Cost-of-Living Index

The panel’s discussion of superlative indexes as a way to address substitution

problems illustrated a dynamic that emerged a number of times. Even when panel

members disagreed on their overall evaluation of pursuing a cost-of-living index as

5

Diewert (1976, Theorem 2.16) had earlier shown that, at least with translog utility functions, this



intermediate standard of living will equal the geometric mean of the standards prevailing in the

reference and comparison periods.



The Consumer Price Index: Conceptual Issues and Practical Suggestions

7


an objective for the Consumer Price Index, they found that they could still come to

unanimous agreement about specific recommendations—albeit for different

reasons.

For example, those who supported the notion that the Consumer Price Index

should be designed as a cost-of-living index saw the use of superlative indexes as a

step toward this goal. But even members who had reservations about the feasibility

of the broad task of measuring the cost-of-living agreed that household substitution

behavior moderated the effect of changes in prices on consumer welfare, and that

the weighting and aggregation procedure in the superlative index would typically

move the CPI in the right direction. Hence, when considering the appropriate

index to use in “compensating” Social Security or other income recipients for the

effects of price changes, those members joined the others in recommending that

the Bureau of Labor Statistics publish a superlative index and that it be used as the

basis for compensation payments.




Download 111,87 Kb.

Do'stlaringiz bilan baham:
1   2   3   4   5   6   7   8   9   ...   19




Ma'lumotlar bazasi mualliflik huquqi bilan himoyalangan ©hozir.org 2024
ma'muriyatiga murojaat qiling

kiriting | ro'yxatdan o'tish
    Bosh sahifa
юртда тантана
Боғда битган
Бугун юртда
Эшитганлар жилманглар
Эшитмадим деманглар
битган бодомлар
Yangiariq tumani
qitish marakazi
Raqamli texnologiyalar
ilishida muhokamadan
tasdiqqa tavsiya
tavsiya etilgan
iqtisodiyot kafedrasi
steiermarkischen landesregierung
asarlaringizni yuboring
o'zingizning asarlaringizni
Iltimos faqat
faqat o'zingizning
steierm rkischen
landesregierung fachabteilung
rkischen landesregierung
hamshira loyihasi
loyihasi mavsum
faolyatining oqibatlari
asosiy adabiyotlar
fakulteti ahborot
ahborot havfsizligi
havfsizligi kafedrasi
fanidan bo’yicha
fakulteti iqtisodiyot
boshqaruv fakulteti
chiqarishda boshqaruv
ishlab chiqarishda
iqtisodiyot fakultet
multiservis tarmoqlari
fanidan asosiy
Uzbek fanidan
mavzulari potok
asosidagi multiservis
'aliyyil a'ziym
billahil 'aliyyil
illaa billahil
quvvata illaa
falah' deganida
Kompyuter savodxonligi
bo’yicha mustaqil
'alal falah'
Hayya 'alal
'alas soloh
Hayya 'alas
mavsum boyicha


yuklab olish