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Journal Article
Is it more expensive, or does it just cost more money?
Most of us, from the general public to professional economists, use the term inflation pretty loosely. It?s increasingly applied to any rise in prices, and even economists use it interchangeably with a rise in the cost of living. This Commentary explains what inflation is, why it should be kept distinct from a rise in the cost of living, and how some statistical measures attempt to distinguish between the two.
Journal Article
Where has all the income gone?
Middle American incomes rise substantially even while inequality increases
Journal Article
Issues in economics: are lifetime incomes growing more unequal?: looking at new evidence on family income mobility
Since most people judge their well-being by comparison with others, widening inequality of lifetime incomes may threaten our standing as a "land of opportunity."
Journal Article
Policy options to improve the U.S. standard of living
The U.S. standard of living has been slipping relative to living standards in other industrial nations. While there is no easy road to national wealth, reducing the federal budget deficit appears to be the most dependable policy to enhance the future U.S. living standard.
Journal Article
The effect of U.S. defense cuts on the standard of living
Journal Article
Mother and child reunion
An intriguing look into why widows increasingly live alone
Working Paper
Improving the ACCRA U.S. regional cost of living index
The broadest and most commonly used measure of the cost of living across U.S. cities is the American Chamber of Commerce Research Association (ACCRA) index. This index is used by business and government organizations and the media to rank living standards and real wages across U.S. cities. In this study we reduce the aggregation bias in the index by calculating national average prices for the 59 item prices using population weights instead of the equal weight formula used by ACCRA. This correction results in a decline in the index values for all cities and changes in the rankings and ...
Journal Article
Rising cost of living
Journal Article
The churn among firms