Work

Assessing the Bias in the Consumer Price Index from Survey Data

Year: 1998

Type: report

Abstract: This paper compares self-reported changes in families' financial status to actual changes based on annual time-series data calculated from the PSID. The results indicate that the Consumer Price Index does a reasonably accurate job reconciling self-reported changes in financial status with measured changes in real income. Earlier work by Nordhaus (1998) reached a different conclusion because it did not account for changes in the shape of the income distribution.

Source: National Bureau of Economic Research

DOI: 10.3386/w6450

Authors: Alan Krueger, Aaron Siskind

Institutions: National Bureau of Economic Research, IZA - Institute of Labor Economics, Princeton University

Language: English

Topic: Income, Poverty, and Inequality

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

SDGs: No poverty, Reduced inequalities

Open Access status: green

OpenAlex ID: W2091615521

Cites:

Cited by: 3

Related to: 10