A01=Committee on National Statistics
A01=Division of Behavioral and Social Sciences and Education
A01=National Research Council
A01=Panel on Conceptual
and Other Statistical Issues in Developing Cost-of-Living Indexes
Author_Committee on National Statistics
Author_Division of Behavioral and Social Sciences and Education
Author_National Research Council
Author_Panel on Conceptual
Category=KCC
Category=KFF
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Measurement
Product details
- ISBN 9780309074421
- Dimensions: 152 x 229mm
- Publication Date: 25 Feb 2002
- Publisher: National Academies Press
- Publication City/Country: US
- Product Form: Hardback
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How well does the consumer price index (CPI) reflect the changes that people actually face in living costsa "from apples to computers to health care? Given how it is used, is it desirable to construct the CPI as a cost-of-living index (COLI)? With what level of accuracy is it possible to construct a single index that represents changes in the living costs of the nationa (TM)s diverse population? At What Price? examines the foundations for consumer price indexes, comparing the conceptual and practical strengths, weaknesses, and limitations of traditional a /fixed basketa and COLI approaches. The book delves into a range of complex issues, from how to deal with the changing quality of goods and services, including difficult-to-define medical services, to how to weight the expenditure patterns of different consumers. It sorts through the key attributes and underlying assumptions that define each index type in order to answer the question: Should a COLI framework be used in constructing the U.S. CPI? In answering this question, the book makes recommendations as to how the Bureau of Labor Statistics can continue to improve the accuracy and relevance of the CPI.
With conclusions that could affect the amount of your next pay raise, At What Price? is important to everyone, and a must-read for policy makers, researchers, and employers.
Panel on Conceptual, Measurement, and Other Statistical Issues in Developing Cost-of-Living Indexes, Charles Schultze and Christopher Mackie, Editors, Committee on National Statistics, National Research Council
