Power Laws, Prices and National Accounts: Are There Any Irregularities?

Ciprian Florin Pater and Deni Mazrekaj

No gwha2, SocArXiv from Center for Open Science

Abstract: Many economic regularities have been found to adhere to power laws. In this paper, we apply Benford’s law to consumer price index data from Norway and Zipf’s law on a Norwegian report about the history of Norwegian national accounts. Norway is a particularly interesting country to study as it scores among the highest-ranked countries on data quality. We find that the consumer price index adheres to Benford’s law, showing high data quality. On the other hand, our results do indicate that the report does not adhere to Zipf’s law.

Date: 2020-12-15
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:gwha2

DOI: 10.31219/osf.io/gwha2

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