Weekly versus Monthly Unit Value Price Indexes

Walter Diewert, Kevin Fox and Jan de Haan
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Jan de Haan: Statistics Netherlands and Delft University of Technology

No 2015-15, Discussion Papers from School of Economics, The University of New South Wales

Abstract: A previously overlooked source of potential bias in the Consumer Price Index (CPI) is described. We find that unit value (average) prices, commonly used for construction of the CPI should be constructed over the same period as the index to be constructed, rather than over an incomplete sub-period. The latter approach can lead to an upward bias in the CPI.

Keywords: Elementary price indexes; aggregation; inflation (search for similar items in EconPapers)
JEL-codes: C43 C82 E31 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2015-07
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (2)

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Working Paper: Weekly versus Monthly Unit Value Price Indexes (2015)
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