Getting Prices Right

, by Baker, Dean; Economic Policy Institute

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ISBN: 9780765602220 | 0765602229
Cover: Paperback
Copyright: 10/1/1997

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One of the hottest debates in economics today is being waged over the accuracy of the consumer price index. The outcome of this debate will have enormous implications for national economic policy and the future of economic research. Getting Prices Right presents the work at the center of this debate - the report of the congressionally appointed Advisory Commission to Study the Consumer Price Index, popularly known as the Boskin Commission - and critically evaluates its findings and implications.

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Acknowledgments	p. ix
Introduction	p. 1
Toward a More Accurate Measure of the Cost of Living: Final Report to the Senate Finance Committee from the Advisory Commission to Study the Consumer Price Index December 4, 1996	p. 5
Executive Summary	p. 7
Introduction	p. 11
Indexing the Federal Budget	p. 14
How the Cpi is Constructed: a Brief Introduction	p. 17
the Consumer Price Index and a Cost of Living Index: Measurement Issues	p. 22
Quality Change and New Products	p. 29
Introduction	p. 29
Introduction	p. 50
Other Issues	p. 55
Other Issues	p. 65
Endnotes	p. 67
References	p. 72
Appendix: Figures	p. 76
Members of the Advisory Commission to Study the Consumer Price Index	p. 77
Does the Cpi Overstate Inflation?: An Analysis of the Boskin Commission Report	p. 79
the Implications of the Boskin Commission's Conclusions	p. 82
the Evidence for an Overstated Cpi	p. 95
is Inflation the Same for Everyone?	p. 125
the Cpi and a Cost-Of-Living Index Compared	p. 131
Conclusion: is the Cpi the Best Measure of Consumer Inflation?	p. 140
Endnotes	p. 142
the Record on Adjusting for Cpi Bias in Research by Commission Members	p. 148
Examples of New Car Reliability/Durability (quality Adjustments in the Cpi Since 1992	p. 152
References	p. 153
Additional Views on the Accuracy of the Consumer Price Index	p. 157
Statistics Under the Spotlight: Improving the Consumer Price Index	p. 159
Testimony of Barry P. Bosworth Before the Senate Finance Committee	p. 165
Statement by Martin Feldstein Before the Committee on Finance, United States Senate	p. 171
Further Readings	p. 175
Index	p. 181
About Epi	p. 189
About the Editor	p. 190
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