A non-parametric bound on substitution bias in the UK retail prices index

Laura Blow and Ian Crawford
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Laura Blow: Institute for Fiscal Studies and University of Surrey

No W99/15, IFS Working Papers from Institute for Fiscal Studies

Abstract: This paper uses revealed preference restrictions and nonparametric statistical methods to bound true cost-of-living indices. These are compared to the popular price indices including the type used to calculated the UK RPI. This is used to assess the method of calculating the RPI for substitution bias.

JEL-codes: C43 D11 (search for similar items in EconPapers)
Pages: 36 pp.
Date: 1999-05-28
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