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At What Price?: Conceptualizing and Measuring Cost-of-Living and Price Indexes
design considerations, 11 , 40 , 42 , 43 , 97 , 191-192
domain-related, 3 , 65-68 , 94 , 96-98
homotheticity in preferences, 49 , 50-51
income changes, 2 , 90
mathematical approach, 74-93
MCPI, 181-185
public perceptions and understanding of, 39 , 58-59
purpose of index and, 40 , 42 , 43
quality adjustment, 2 , 3 , 14 , 19 , 28 , 30 , 39 , 40 , 57 , 59 , 62-64 , 97-98 , 106
reference period, 41 , 42 , 47-49 , 51
satisfaction, 47 , 53 , 55-57
stochastic approach, 41-42 , 68
stocks and flows, 33-35 , 71-72
subpopulations and, 229-232
substitution effect, 2 , 3 , 39 , 47-48 , 50-51 , 52-53 , 58 , 59-62
superlative indexes, 50-51 , 53 , 83-85
taste changes, 2 , 53 , 59 , 64 , 67 , 69-70
test approach, 41-42 , 50 , 68
theoretical, 39 , 40 , 43-58 , 73 , 74-93
utility and choice, 47 , 53-55
virtual demand for new commodities, 158 n.6
Conditional cost-of-living index (CCOLI), 39 , 65-68 , 69 , 70 , 86-90 , 306
Congressional Budget Office, 259
Conrad, Kent, 228
Constant-elasticity-of-substitution (CES) price index, 6 , 60-61 , 91-93 , 194
Constant utility index, 14
Consumer demand functions, 49-50 , 306
Consumer Expenditure Survey (CEX), 42 , 79 , 213
accuracy, 12 , 36 , 253-256 , 261
cost, 234 , 253 , 261
defined, 306 , 307
description of, 189 , 238 , 244 , 280-281
Diary Survey, 257 , 280-281
expenditure weights, 11-12 , 36 , 253-256 , 261 , 274-275
frequency, 164-165 , 256-257 , 275
NIPA expenditure estimates compared, 214
POPS integrated with, 37 , 264-266 , 275
Quarterly Interview Panel Survey, 257 , 280
questionnaire and structural issues, 36 , 261- 262
research needs, 11-12 , 261 , 274-275
sample size, 12 , 36 , 131 n.25, 257-261
scanner technology and, 271-272
subgroup data, 4 , 203 n.11, 227 , 234 , 236 , 247 , 248 , 255 , 259
substitution with new goods, 164-165
uses, 252 , 261 , 277 , 281
Consumer Price Index (CPI)
aggregation in, 15 , 23-24 , 243-244 , 305 , 308 , 311
biases in, 112-122 , 129 , 250
COLI-based, 2-3 , 4 , 14 , 15 , 18-19 , 24 , 94 , 104 , 110 n.3, 112 , 144-145 , 272-273
comparison period, 42
conceptual basis, 1-2 , 8 , 15-16 , 18-19 , 38 , 39 , 41 , 42 , 73 , 94 , 221
criticisms of, 1 , 13 , 14 , 27 , 39
defined, 306
domain, 3-4 , 16 , 17 , 19-21 , 73 , 94 , 105
experimental version (CPI-E), 11 , 197 , 203 n.11, 228 , 246-250 , 307
fixed-weight method, 14-15
growth of, 207-208
hedonic quality adjustment, 6-7 , 132-137 , 138 , 139-140 , 141
Housing Survey, 307
improvement initiative, 131 n.25, 145 , 164 , 166 n.14
introduction of new goods, 157 , 161-167
item replacement, 134 , 305-306 , 307-308
item strata, 23 , 130 , 131 , 156 , 163 , 307 , 309
modified Laspeyres-based, 24 , 49 , 52 , 61 , 62 , 97 n.2, 104 , 111 , 114 , 221 , 276-277 , 306 , 309
NIPA compared, 217 , 219-221
product sampling and item identification, 107-108 , 250
proxy prices, 72 , 120 , 307
PSU, 278-279 , 310
quality adjustments, 14 , 16 , 27 , 39 , 106 , 107 , 110 n.3, 111 , 112-122 , 116-121 , 130-137 , 209-210
quantity-base period, 276-277
recalculation (CPI-U-RS), 202 n.8, 220 , 307
reference period, 42 , 276
research series, 210
revision frequency, 115 , 166 n.13, 221
structure and elements, 23-24 , 156 , 163 , 278-280 , 307 , 309
substitution behavior and, 15-16 , 23-25 , 26 , 169-170 , 113
superlative index, 24-25 , 97 , 191 , 194-195 , 207-208 , 210