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The Common-Scaling Social Cost-of-Living Index
Journal of Business & Economic Statistics, 2010If preferences or budgets are heterogeneous across people (as they clearly are), then individual cost-of-living indexes are also heterogeneous. Thus, any social cost-of-living index faces an aggregation problem. In this article, we provide a solution to this problem that we call a “common-scaling” social cost-of-living index (CS-SCOLI). In addition, we
Crossley, Thomas F, Pendakur, Krishna
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Individual and Social Cost-of-Living Indexes
1990Summary The purpose of this paper is to present an econometric approach to cost-of-living measurement. This approach implements the economic theory of individual cost-of-living measurement pioneered by Konus [1939] almost six decades ago. In this paper we develop and implement a completely parallel theory of social cost-of-living measurement.
Dale W. Jorgenson, Daniel T. Slesnick
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Expenditure-based Interarea Cost of Living Index [PDF]
, 2004 The main difficulty in comparing the cost-of-living among metropolitan areas is that, at this level, prices of most goods and services are not available. Even when the prices are available, constructing aggregate prices for groups of goods and services comparable across areas, is a difficult task.
Alexandru Voicu, Michael L. Lahr
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The Effect of Price Dispersion on Cost of Living Indexes
International Economic Review, 1994Single good search models imply that mean-preserving increases in the amount of price dispersion reduce expected costs of living of searching consumers. Yet when many goods are consumed, commodity substitution may create a de facto form of fixed sample size search.
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A Taste-Dependent True Index of the Cost of Living
The Review of Economics and Statistics, 1975THE pathbreaking introduction of the linear expenditure model by Klein and Rubin (1947-1948) opened the way to an econometric implementation of the theory of the true cost-of-living index. The hypothesis of a given static utility function, however, raises doubts about its relevance to a world of changing preferences.
Phlips, Louis, Sanz-Ferrer, Ricardo
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A cost of living index incorporating a network effect
Applied Economics, 2004This paper constructs a cost of living index (COLI) that incorporates a network effect. While in this instance the application is to the telecommunications sector, the COLI are applicable more generally to network industries. The COLI permit valid welfare comparisons to be made by individual, region and country. Illustrative COLI estimates are provided
Madden, Gary, Coble-Neal, Grant
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A Distortion in the Cost of Living Index
Journal of the American Statistical Association, 1931The cost of living index of the United States Bureau of Labor Statistics is in constant use to indicate changes in purchasing power of money, and hence in real wages and real earnings; it has therefore a function of considerable importance. The index is often said to be not so representative as is desirable because of the limited data, both on ...
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Cost of Living Indexes and Exact Index Numbers [PDF]
, 2009 The paper reviews and extends the theory of exact and superlative index numbers. Exact index numbers are empirical index number formula that are equal to an underlying theoretical index, provided that the consumer has preferences that can be represented by certain functional forms.
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Index Numbers of the Total Cost of Living
The Quarterly Journal of Economics, 1921I. The use of index numbers of cost of living stimulated by war conditions, 241. - II. Food prices and cost of living may diverge, 243. — III. A fixed collection of commodities and services forms the basis, 244. — IV. The methods of "proportional" and of "aggregate" expenditure, 246.
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