Yes, Doug Orr, the GNP (now GDP) consumption deflator (PC) from the Bureau
of Economic Analysis is the main competitor to the CPI. However, you should
be aware that all of BEA's basic information on prices comes from the CPI
and hence PC is subject to most of the biases noted for the CPI. Th
To Gina Neff:
Your point is accurate and well taken. Cairo has
the wealthy suburb of Heliopolis as well as wealthy downtown
Zamalayka Island. Tunis has wealthy Carthage on the beach.
Barkley Rosser
Thanks to DAve Richardson for his very interesting explanation of the
sources of CPI bias. I have always wondered why the substitution
bias in the CPI is assumed to be positive. It seems that there are
nagative substitution problems of a much greater magnitude. For
example, if large-budget it
Fellow Netters:
This message contains the program and other information related to the
May 10-11, 1996 conference on "African Americans, Labor, and Society: Organi-
zing for A New Agenda." This conference will be held at Wayne State University
and is free, except a modest cost for meals.
Please
Dave Richardson writes: the Consumer Expenditure deflator >> is
subject to most of the biases noted for the CPI. The one
exception is substitution bias -- BEA now uses a superlative
index to aggregate the commodity indexes to the national
all-items total. This procedure reduces the substitutio
BLS DAILY REPORT, TUESDAY, APRIL 23, l996:
The Council of Economic Advisers will report today that more than two-thirds
of the new jobs created in the U.S. in l994 and l995 paid better than the
average job, Administration officials said (The New York Times, page Dl).
Despite waves of corporat
On Thu, 4 Apr 1996 [EMAIL PROTECTED] wrote:
>
> Hunt & Sherman and Riddell, Shackelford & Stamos aren't too one sided,
> but both have their problems, especially, in terms of organization and
> difficulty.
>
> Although Bowles & Edwards is somewhat one-sided, it bends the stick in
> the opp
Ellen Frank and Jim Devine (below) are concerned about the reason that the
substitution bias is always positive. The answer is from the micro theory
textbook: as relative prices change people substitute toward the now less
expensive goods and away from the more expensive. A Laspeyres Index,
I know there has been a lot of discussion on PEN-L about the collapse of the
Bretton Woods institituions, the increase in capital mobility and the decline
in living standards for the majority of people, both in the developed and
developing world. I was mentioning all this to a colleague in the S
