Price Index Concepts and Measurement
Edited by W. Erwin Diewert, John Greenlees, and Charles R. Hulten University of Chicago Press, 2009 Library of Congress HC106.3.C714 2009 | Dewey Decimal 338.528
Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the Cost-of-Living Index (COLI) and its controversial role as the methodological foundation for the Consumer Price Index (CPI).
Price Index Concepts and Measurements brings together leading experts to address the many questions involved in conceptualizing and measuring inflation. They evaluate the accuracy of COLI, a Cost-of-Goods Index, and a variety of other methodological frameworks as the bases for consumer price construction.