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Keywords:Consumer price indexes 

Journal Article
Price hedonics: a critical review

This paper was presented at the conference "Economic Statistics: New Needs for the Twenty-First Century," cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics, July 11, 2002. The main objective of this paper is to make a start in the evaluation of price hedonics. The author describes the hedonic model and reviews its main uses, because the credibility of price hedonics depends in part on the current state of academic research. This is a brief overview. The author then turns to some of the ...
Economic Policy Review , Issue Sep , Pages 5-15

Journal Article
Historical CPI inflation under current calculation methods

National Economic Trends , Issue Aug

Working Paper
Connectionist-based rules describing the pass-through of individual goods prices into trend inflation in the United States

This paper examines the inflation "pass-through" problem in American monetary policy, defined as the relationship between changes in the growth rates of individual goods and the subsequent economy-wide rate of growth of consumer prices. Granger causality tests robust to structural breaks are used to establish initial relationships. Then, feedforward artificial neural network (ANN) is used to approximate the functional relationship between selected component subindexes and the headline CPI. Moving beyond the ANN ?black box,? we illustrate how decision rules can be extracted from the network. ...
Working Papers , Paper 2011-007

Journal Article
Quality change in the CPI

Review , Issue May , Pages 87-100

Journal Article
The retail revolution and food-price mismeasurement

If a product sells for $3 this week at the local supermarket and $2 next week, what is the "real" price? What if that same product has a different price at a different store? Thanks to scanner technology, food prices differ a lot these days because they can be changed quickly and easily. How do our official statistics take these price movements into account? Not too well, according to Leonard Nakamura. In this article, he describes the retail revolution of recent years and how it has led to mismeasurement of food prices
Business Review , Issue May , Pages 3-14

Journal Article
Statement to Congress, March 4, 1997 (semi-annual report on the conduct of monetary policy and the issue of the CPI)

Federal Reserve Bulletin , Issue May

Measuring economic activity and economic welfare: what are we missing?

Major U.S. economic data, most notably GDP and Industrial Production, are undergoing major changes. Proposals have been made for significant alterations in the CPI. The revision process has helped to spur debate on such topics as the proper method of accounting for high technology's role in the economy, the reported sluggishness of productivity growth in many service industries, and the overstatement of price increases for numerous products. This paper attempts to assess the potential impact of some of these problems on our understanding of basic trends in the economy. It is found that with ...
Research Paper , Paper 9732

Journal Article
On maintaining a rising U.S. standard of living into the mid-21st century

Review , Issue Mar , Pages 3-16

Journal Article
Credibility begins with a clear commitment to price stability

An argument that the central bank should adopt a policy of price stability based on an explicit objective for the Consumer Price Index, which the Cleveland Fed President believes would provide a nominal anchor for the dollar as well as a clear standard by which to measure the success of monetary policy.
Economic Commentary , Issue Oct

Journal Article
Should food be excluded from core CPI?

The greater a component?s SNR, the more useful the component should be in forecasting headline CPI.
Economic Synopses



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Clark, Todd E. 6 items

Nakamura, Leonard I. 6 items

Bryan, Michael F. 4 items

Meyer, Brent 4 items

Crone, Theodore M. 3 items

Diewert, W. Erwin 3 items

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Consumer price indexes 102 items

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Personal Consumption Expenditures Price Index 5 items

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