Price Measurement and Mismeasurement in Central Asia

Vincent Koen ()

No 1995/082, IMF Working Papers from International Monetary Fund

Abstract: The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional Paasche retail price indices obsolete and called for the introduction of Laspeyres consumer price indices. While the latter represent a major improvement, several measurement or interpretation issues remain, reflecting various potential index number biases, dispersion of prices and inflation across geographical areas and social groups, discontinuities in the inflation process, residual shortages, and seasonality.

Keywords: WP; price index; base period; purchasing power; unit price; hybrid CPIs; CPI basket; CPI display; computed price indices; price level dispersion; price decontrol measure; revised RPI; recovery ratio; appropriate consumer price indices; expenditure pattern; price collector; liberalization proceeds; Consumer price indexes; Inflation; Price indexes; Consumption; Income; Central Asia (search for similar items in EconPapers)
Pages: 30
Date: 1995-08-01
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Chapter: Price Measurement and Mismeasurement in Central Asia (1997)
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