Testing the RPI data for consistency with the theory of the cost-of-living index

Ian Crawford and Isabella Image
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Isabella Image: Institute for Fiscal Studies

No W02/19, IFS Working Papers from Institute for Fiscal Studies

Abstract: This paper tests the published section level price and weight dataused in the compilation of the UK Retail Prices Index for consistencywith the theory of the cost-of-living index. We use a nonparametric testof theoretical consistency and bootstrap statistical methods to estimatethe probability of consistency.

Pages: 15 pp
Date: 2002-11-01
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