Journal articles: 'Consumer price indexes'

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White, Alan G. "Measurement Biases in Consumer Price Indexes." International Statistical Review / Revue Internationale de Statistique 67, no. 3 (December 1999): 301. http://dx.doi.org/10.2307/1403708.

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White, Alan G. "Measurement Biases in Consumer Price Indexes." International Statistical Review 67, no. 3 (December 1999): 301–25. http://dx.doi.org/10.1111/j.1751-5823.1999.tb00451.x.

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Benedetti, Ilaria, Tiziana Laureti, Luigi Palumbo, and Brandon M. Rose. "Computation of High-Frequency Sub-National Spatial Consumer Price Indexes Using Web Scraping Techniques." Economies 10, no. 4 (April 14, 2022): 95. http://dx.doi.org/10.3390/economies10040095.

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The development of Information and Communications Technology and digital economies has contributed to changes in the consumption of goods and services in various areas of life, affecting the growing expectations of users in relation to price statistics. Therefore, it is important to provide information on differences in consumer prices across space and over time in a timely manner. Web-scraped data, which is the process of collecting large amounts of data from the web, offer the potential to improve greatly the quality and efficiency of consumer price indices. In this paper, we explore the use of web-scraped data for compiling high-frequency price indexes for groups of products by using the time-interaction-region product model. We computed monthly average prices for five entry-level items according to the Consumer Price Index for All Urban Consumers (CPI-U) classification and tracked their evolution over time in 11 USA cities reported in our dataset. Even if our dataset covers a small percentage of the CPI-U index, results show how web scraping data may provide timely estimates of sub-national SPI evolution and unveil seasonal trends for specific categories.

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Hottman, Colin J., and Ryan Monarch. "Who's Most Exposed to International Shocks? Estimating Differences in Import Price Sensitivity across U.S. Demographic Groups." International Finance Discussion Paper, no. 1380 (September 2023): 1–40. http://dx.doi.org/10.17016/ifdp.2023.1380.

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Differences in consumption patterns across demographic groups mean that international price shocks differentially affect such groups. We construct import price indexes for U.S. consumer groups that vary by age, race, sex, education, and urban status. Black consumers and college graduates experienced significantly higher import price inflation from 1996-2018 compared to other groups, such as high school dropouts, rural consumers, and consumers over 60. Sensitivity to international price shocks varies widely, implying movements in exchange rates and foreign prices, both during our sample and during the Covid-19 pandemic, drove sizable differences in import price inflation – and total inflation – across groups.

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Faryna, Oleksandr, Oleksandr Talavera, and Tetiana Yukhymenko. "What Drives the Difference between Online and Official Price Indexes?" Visnyk of the National Bank of Ukraine, no. 243 (March 29, 2018): 21–30. http://dx.doi.org/10.26531/vnbu2018.243.021.

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This paper examines the associations between online price indexes and official statistics. First, we generate online CPI component sub-indexes, which are later aggregated to an Online Price CPI. This approach is applied to our unique dataset which contains about 3 million observations of online retail prices for consumer goods in Ukraine’s five largest cities. The data span over the period 2016m1 – 2017m12 and cover about 46% of Ukraine’s Consumer Price Inflation basket. We find that online inflation is generally consistent with official estimates, but the matching capability varies across sub-indexes. Although the differences can partially be explained by poor dataset coverage, we find that online prices may indeed represent new information that is not captured by official statistics.

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Asano, Seki, and Eduardo P. S. Fiuza. "Estimation of the Brazilian Consumer Demand System." Brazilian Review of Econometrics 23, no. 2 (November 2, 2003): 255. http://dx.doi.org/10.12660/bre.v23n22003.2726.

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In this study we estimate the Brazilian consumer demand system through family expenditure data, which cover all consumption categories. The model is estimated from family-level expenditures on seven consumption categories, and a new set of regional cost-of-living indexes. The sources for expenditures are the national household expenditure surveys (POFs) conducted in 1987/88 and 1995/96, which collected data from eleven metropolitan areas. To the best of our knowledge this is the first study of this type and extent based on both waves of POF. Corresponding price indexes were constructed from detailed commodity prices, also from each metropolitan area. The salient features of our study are 1) price variations come from both time and regional differences, which allows us to estimate price elasticities with high precision, 2) we have large variations in income (total expenditures), which is rarely available in aggregate data, and 3) we control for time specific factors by exploiting the panel structure of the data set.

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Prada, Sergio I., Julio C. Alonso, and Julián Fernández. "Exchange rate pass-through into consumer healthcare prices in Colombia." Cuadernos de Economía 38, no. 77 (July 1, 2019): 523–50. http://dx.doi.org/10.15446/cuad.econ.v38n77.66189.

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The exchange rate pass-through into the consumer price index on healthcare goods and services was measured by estimating a FAVAR model for Colombia. Results provide evidence of an incomplete and heterogeneous effect. There is no indication of transmission to the services or insurance indexes, but there is a significant effect on the medicines and devices indexes that have implications for out-of-pocket expenditure. Therefore, this indicates that the Colombian healthcare system effectively protects consumers from exchange rate volatility, but may need to design policies to protect consumers from price rises in medicines and goods that are not covered by the national benefits package.

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Moulton, Brent R., and Kenneth J. Stewart. "An Overview of Experimental U.S. Consumer Price Indexes." Journal of Business & Economic Statistics 17, no. 2 (April 1999): 141. http://dx.doi.org/10.2307/1392469.

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Moulton, Brent R., and Kenneth J. Stewart. "An Overview of Experimental U.S. Consumer Price Indexes." Journal of Business & Economic Statistics 17, no. 2 (April 1999): 141–51. http://dx.doi.org/10.1080/07350015.1999.10524804.

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Dubey, Amaresh, and Palmer-Jones Richard. "Prices, Price Indexes and Poverty Counts in India during 1980s and 1990s: Calculation of Unit Value Consumer Price Indexes." Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics 47, no. 3-4 (December 1, 2005): 223. http://dx.doi.org/10.21648/arthavij/2005/v47/i3-4/115623.

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Cavallo, Alberto, and Roberto Rigobon. "The Billion Prices Project: Using Online Prices for Measurement and Research." Journal of Economic Perspectives 30, no. 2 (May 1, 2016): 151–78. http://dx.doi.org/10.1257/jep.30.2.151.

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A large and growing share of retail prices all over the world are posted online on the websites of retailers. This is a massive and (until recently) untapped source of retail price information. Our objective with the Billion Prices Project, created at MIT in 2008, is to experiment with these new sources of information to improve the computation of traditional economic indicators, starting with the Consumer Price Index. We also seek to understand whether online prices have distinct dynamics, their advantages and disadvantages, and whether they can serve as reliable source of information for economic research. The word “billion” in Billion Prices Project was simply meant to express our desire to collect a massive amount of prices, though we in fact reached that number of observations in less than two years. By 2010, we were collecting 5 million prices every day from over 300 retailers in 50 countries. We describe the methodology used to compute online price indexes and show how they co-move with consumer price indexes in most countries. We also use our price data to study price stickiness, and to investigate the “law of one price” in international economics. Finally we describe how the Billion Prices Project data are publicly shared and discuss why data collection is an important endeavor that macro- and international economists should pursue more often.

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Greenlees, John. "Consumer price indexes: methods for quality and variety change." Statistical Journal of the United Nations Economic Commission for Europe 17, no. 1 (June 1, 2000): 59–74. http://dx.doi.org/10.3233/sju-2000-17105.

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Krsinich, Frances. "The FEWS Index: Fixed Effects with a Window Splice." Journal of Official Statistics 32, no. 2 (June 1, 2016): 375–404. http://dx.doi.org/10.1515/jos-2016-0021.

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Abstract This article describes the estimation of quality-adjusted price indexes from ‘big data’ such as scanner and online data when there is no available information on product characteristics for explicit quality adjustment using hedonic regression. The longitudinal information can be exploited to implicitly quality-adjust the price indexes. The fixed-effects (or ‘time-product dummy’) index is shown to be equivalent to a fully interacted time-dummy hedonic index based on all price-determining characteristics of the products, despite those characteristics not being observed. In production, this can be combined with a modified approach to splicing that incorporates the price movement across the full estimation window to reflect new products with one period’s lag without requiring revision. Empirical results for this fixed-effects window-splice (FEWS) index are presented for different data sources: three years of New Zealand consumer electronics scanner data from market-research company GfK; six years of United States supermarket scanner data from market-research company IRI; and 15 months of New Zealand consumer electronics daily online data from MIT’s Billion Prices Project.

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Houseman, Susan, Christopher Kurz, Paul Lengermann, and Benjamin Mandel. "Offshoring Bias in U.S. Manufacturing." Journal of Economic Perspectives 25, no. 2 (May 1, 2011): 111–32. http://dx.doi.org/10.1257/jep.25.2.111.

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In this paper, we show that the substitution of imported for domestically produced goods and services—often known as offshoring—can lead to overestimates of U.S. productivity growth and value added. We explore how the measurement of productivity and value added in manufacturing has been affected by the dramatic rise in imports of manufactured goods, which more than doubled from 1997 to 2007. We argue that, analogous to the widely discussed problem of outlet substitution bias in the literature on the Consumer Price Index, the price declines associated with the shift to low-cost foreign suppliers are generally not captured in existing price indexes. Just as the CPI fails to capture fully the lower prices for consumers due to the entry and expansion of big-box retailers like Wal-Mart, import price indexes and the intermediate input price indexes based on them do not capture the price drops associated with a shift to new low-cost suppliers in China and other developing countries. As a result, the real growth of imported inputs has been understated. And if input growth is understated, it follows that the growth in multifactor productivity and real value added in the manufacturing sector have been overstated. We estimate that average annual multifactor productivity growth in manufacturing was overstated by 0.1 to 0.2 percentage points and real value added growth by 0.2 to 0.5 percentage points from 1997 to 2007. Moreover, this bias may have accounted for a fifth to a half of the growth in real value added in manufacturing output excluding the computer and electronics industry.

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Ismail, Nur Hafizah, and Sabri Nayan. "A DYNAMIC RELATIONSHIP BETWEEN CONSUMER CONFIDENCE AND RESIDENTIAL PROPERTY PRICE: EMPIRICAL EVIDENCE FOR MALAYSIA." International Journal of Property Sciences 11, no. 1 (August 30, 2021): 16–34. http://dx.doi.org/10.22452/ijps.vol11no1.2.

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In recent years, the real estate market has become a major interest for economists and researchers. In general, property prices are influenced by the supply and demand of the real estate market. In addition to the individual's positive expectation of the real estate market would raise the demand for housing and hence, house price indexes would increase. This study provides new knowledge on how consumer confidence in the housing industry affects residential property prices in Malaysia. Previous studies on the effect of consumer perception towards residential property in Malaysia are scarce. Therefore, the objective of this study is to determine how consumer confidence affect residential property price in Malaysia. Our study differs by focusing on the effect of consumer confidence on the housing industry and macroeconomic drivers toward residential property prices in Malaysia over the period 2004:Q1 to 2018:Q4. By using the autoregressive distributed lag (ARDL) test, the empirical results have shown the presence of long-run adjustment and indicate that consumer confidence towards the housing industry and many macroeconomic variables significantly affect residential property prices. From this finding, we have suggested that government and policymakers should be able to understand consumer confidence in the housing industry to increase consumer satisfaction and to improve consumer sentiment towards the residential property market in Malaysia.

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Collier, Irwin L. "The DM and the Ossi Consumer: Price Indexes During Transition." Journal of Economic Integration 27, no. 2 (June 15, 2012): 245–73. http://dx.doi.org/10.11130/jei.2012.27.2.245.

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Diewert, W. Erwin, and Kevin J. Fox. "Measuring Inflation under Pandemic Conditions." Journal of Official Statistics 38, no. 1 (March 1, 2022): 255–85. http://dx.doi.org/10.2478/jos-2022-0012.

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Abstract National statistical offices have faced unprecedented circumstances in the modern history of economic measurement. There were dramatically changing consumer expenditure patterns due to pandemic conditions, with lockdowns and fear of infection making many goods and services unavailable. We examine the implications of changing relative expenditures for the construction of Consumer Price Indexes, with special reference to the treatment of prices for unavailable products. We conclude that for many purposes, it would be useful for statistical agencies to establish a continuous consumer expenditure survey. We also examine various other practical pandemic induced CPI measurement problems.

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Juszczak, Adam. "The use of web-scraped data to analyze the dynamics of footwear prices." Journal of Economics and Management 43 (2021): 251–69. http://dx.doi.org/10.22367/jem.2021.43.12.

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Aim/purpose – Web-scraping is a technique used to automatically extract data from websites. After the rise-up of online shopping, it allows the acquisition of information about prices of goods sold by retailers such as supermarkets or internet shops. This study examines the possibility of using web-scrapped data from one clothing store. It aims at comparing known price index formulas being implemented to the web-scraping case and verifying their sensitivity on the choice of data filter type. Design/methodology/approach – The author uses the price data scrapped from one of the biggest online shops in Poland. The data were obtained as part of eCPI (electronic Consumer Price Index) project conducted by the National Bank of Poland. The author decided to select three types of products for this analysis – female ballerinas, male shoes, and male oxfords to compare their prices in over one-year time period. Six price indexes were used for calculation – The Jevons and Dutot indexes with their chain and GEKS (acronym from the names of creators – Gini–Éltető–Köves–Szulc) versions. Apart from the analysis conducted on a full data set, the author introduced filters to remove outliers. Findings – Clothing and footwear are considered one of the most difficult groups of goods to measure price change indexes due to high product churn, which undermines the possibility to use the traditional Jevons and Dutot indexes. However, it is possible to use chained indexes and GEKS indexes instead. Still, these indexes are fairly sensitive to large price changes. As observed in case of both product groups, the results provided by the GEKS and chained versions of indexes were different, which could lead to conclu- sion that even though they are lending promising results, they could be better suited for other COICOP (Classification of Individual Consumption by Purpose) groups. Research implications/limitations – The findings of the paper showed that usage of filters did not significantly reduce the difference between price indexes based on GEKS and chain formulas. Originality/value/contribution – The usage of web-scrapped data is a fairly new topic in the literature. Research on the possibility of using different price indexes provides useful insights for future usage of these data by statistics offices. Keywords: inflation, CPI, web-scraping, online shopping, big data. JEL Classification: C43, C49.

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Abraham, Katharine G. "Toward a Cost-of-Living Index: Progress and Prospects." Journal of Economic Perspectives 17, no. 1 (February 1, 2003): 45–58. http://dx.doi.org/10.1257/089533003321164949.

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The author considers the improvements the Bureau of Labor Statistics has made to the Consumer Price Index since the mid 1990s. These include changes designed to make the index more representative of current expenditure patterns; to account for consumer substitution in response to relative price change; and to account for changes in the quality of the goods and services that consumers purchase. Drawing on selected recommendations made by the National Academy of Sciences Panel on Conceptual, Measurement, and Other Statistical Issues in Developing Cost-of Living Indexes recently chaired by Charles Schultze, the author highlights those additional areas for exploration that she believes have the greatest potential and discuss those areas she believes to be less promising.

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Laureti, Tiziana, and Federico Polidoro. "Using Scanner Data for Computing Consumer Spatial Price Indexes at Regional Level: An Empirical Application for Grocery Products in Italy." Journal of Official Statistics 38, no. 1 (March 1, 2022): 23–56. http://dx.doi.org/10.2478/jos-2022-0003.

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Abstract The importance of constructing sub-national spatial price indexes (SPIs) has been acknowledged in the literature for over two decades. However, systematic attempts to compile sub-national SPIs on a regular basis have been hampered by the labour-intensive analyses required for processing traditional price data. In the case of household consumption expenditures, the increasing availability of big data may change the current approach for estimating sub-national SPIs by considering the use of weighted index formulae. The aim of this paper is twofold: firstly, to review previous literature on sub-national SPIs and secondly to estimate Italian consumer SPIs. To this aim we use scanner data referring to grocery products sold in a random sample of approximately 1,800 Italian outlets belonging to the most important retail chains and including information on prices, quantities and quality characteristics of products at barcode level. Various weighted index formulas are used for calculating consumer SPIs at detailed territorial level and at the lowest aggregation level. Our results show an interesting territorial variability of consumer prices of products sold in large-scale retail outlets across the Italian regions. Overall, the Southern regions appear to have price levels below the national average both for food and non-food products with some interesting exceptions.

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Copeland, Adam. "Seasonality, consumer heterogeneity and price indexes: the case of prepackaged software." Journal of Productivity Analysis 39, no. 1 (February 8, 2012): 47–59. http://dx.doi.org/10.1007/s11123-012-0266-2.

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Ferrari, Guido, Tiziana Laureti, and Franco Mostacci. "Time–Space Harmonization of Consumer Price Indexes in Euro-Zone Countries." International Advances in Economic Research 11, no. 4 (November 2005): 359–78. http://dx.doi.org/10.1007/s11294-005-2275-7.

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Dewi Mahrani Rangkuty, Bakhtiar Efendi, and Antonius Gulo. "MONETARY INDICATORS OF THE STABILITY OF PRICES." Proceeding of The International Conference on Economics and Business 1, no. 1 (April 22, 2022): 92–102. http://dx.doi.org/10.55606/iceb.v1i1.187.

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This study aims to analyze the contributions of the variable interactions of monetary policy in the stability of goods and services prices. Where is the monetary policy variable (inflation, kurs, consumer price index, gross domestic products, the money supply, and interest rates). Research in conducted in the country of Indonesia and uses secondary data or time series from 2008 to 2021. The data analysis model in this study is Simultaneous Model. Simultaneous equations to analyze the relation between independent and variable variables found in the research country. Simultaneous analysis of equations on statistical test common equation 1 suggests that variable interest rates, money distribution, exchange rates and consumer price indexes have significant adverse effects on the inflation. Whereas in the same equation 2, it suggests that gross domestic product variables have a positive relationship that is significant to the ihk. And inflation has a negative relationship significantly insignificant to consumer price index. For this reason, the researcher hopes that the monetary authority, namely Bank Indonesia, can improve monetary stability and maintain the BI rate in regulating the money supply so that it can suppress the inflation rate as an effort to stabilize the prices.

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Bessonov, Vladimir. "What Opportunities Do New Technologies Bring About for Price Statistics?" Russian Journal of Money and Finance 80, no. 1 (March 2021): 120–26. http://dx.doi.org/10.31477/rjmf.202101.120.

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The paper discusses new opportunities for Russian price statistics that present-day information and communication technologies bring about. The paper is a response to the study Isakov et al. (2021) dedicated to the effort of developing a toolset to build a price quotation database through automated internet data collection and construction of consumer price indexes based on it. Discussed are the potential implications of this activity for price statistics.

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Maia, Emanuella Gomes, Camila Mendes dos Passos, Renata Bertazzi Levy, Ana Paula Bortoletto Martins, Laís Amaral Mais, and Rafael Moreira Claro. "What to expect from the price of healthy and unhealthy foods over time? The case from Brazil." Public Health Nutrition 23, no. 4 (January 15, 2020): 579–88. http://dx.doi.org/10.1017/s1368980019003586.

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AbstractObjective:To measure change in price of food groups over time (1995–2030) in Brazil, considering the Brazilian Dietary Guidelines’ recommendations.Design:Data from the Household Budget Survey (2008–2009 HBS) and the National System of Consumer Price Indexes (NSCPI) were used to create a data set containing monthly prices for the foods and beverages most consumed in the country (n 102), from January 1995 to December 2017. Data on price of foods and beverages from 2008–2009 HBS (referring to January 2009) were used to calculate real price over time using the monthly variation in prices from NSCPI. All prices were deflated to December 2017. Foods and beverages were classified following the Brazilian Dietary Guidelines’ recommendations. The monthly price for each food group and subgroup was used to analyse changes in prices from 1995 to 2017 and to forecast prices up to 2030 using fractional polynomial models.Setting:Brazil.Participants:National estimates of foods and beverages purchased for Brazil.Results:In 1995, ultra-processed foods were the most expensive group (R$ 6·51/kg), followed by processed foods (R$ 6·44/kg), then unprocessed or minimally processed foods and culinary ingredients (R$ 3·45/kg). Since the early 2000s, the price of ultra-processed foods underwent successive reductions, becoming cheaper than processed foods and reducing the distance between it and the price of the other group. Forecasts indicate that unhealthy foods will become cheaper than healthy foods in 2026.Conclusions:Food prices in Brazil have changed unfavourably considering the Brazilian Dietary Guidelines’ recommendations. This may imply a decrease in the quality of the population’s diet.

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Sheikh, Mohammad javad, Mohsen Nazem Bokaei, Hadi Alijani, Mohammad Saadatmand, Sayed Mojtaba Hosseini Fard, and Ismaeil Chezani Sharahi. "INVESTIGATING RELATIONSHIP BETWEEN CONSUMER PRICE INDEX AND PRODUCER PRICE INDEX AND DIVIDEND PER SHARE." Australian Journal of Business and Management Research 01, no. 07 (February 10, 2012): 121–28. http://dx.doi.org/10.52283/nswrca.ajbmr.20110107a13.

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Managers of economic institutions should possess some criteria in the stock exchange so that they can evaluate their performance and economic plans. Criteria for performance evaluation accounting can be used for evaluating performance and economic plans. One of the main criteria for performance evaluation accounting is reported accounting profit or dividends. This criterion is one of the main indexes for evaluating managers’ performance, and it is also a main criterion for decision-making on approval or rejection of economic plans. This index is influenced by different factors such as price index, especially consumer price index and producer price index. In this paper, relationship between producer price index and consumer price index is investigated in accepted firms in Tehran stock exchange. Dicky- Fuller Test is used for time series reliability and Pearson correlation coefficient and Granger-causality tests are used for investigating the relationship between variables. Finally, it was concluded that consumer price index has an inverse correlation with dividend per share (first hypothesis), and producer price index has a direct correlation with dividend per share (second hypothesis).

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Shebanina, Olena, and Anna Burkovska. "Price regulation of agrarian markets in the context of food security in Ukraine." SHS Web of Conferences 65 (2019): 03002. http://dx.doi.org/10.1051/shsconf/20196503002.

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The article deals with the problems of price regulation of the agrarian markets in the context of food security in Ukraine. The seasonal dynamics of the indexes on the consumer prices for the agricultural products are analyzed. The influence of the factors of foreign trade activity of Ukraine on the state of prices on the domestic market is determined. The conclusion on the need for increasing the state regulation of prices for agricultural products in Ukraine is made. The analysis of influence of the dynamics in the volumes of the export and import on the fluctuations of prices for agricultural products on the domestic market is carried out.

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Abe, Naohito. "“Measuring Inflation under Pandemic Conditions”: A Comment." Journal of Official Statistics 38, no. 1 (March 1, 2022): 295–300. http://dx.doi.org/10.2478/jos-2022-0015.

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Abstract Diewert and Fox (2022) examine various implications of the 2020 COVID-19 pandemic for constructing consumer price indexes. The authors state that the pandemic caused major changes in consumption expenditures and shares which makes fixed basket index number formulae inapplicable. They emphasize the need for more frequent surveys of consumer expenditure which will enable compilation of the Fisher index which is considered superior to the traditional Laspeyres or Young indexes. In addition, Diewert and Fox discuss the use of various “new” technologies such as web scraping, scanner data, and information from transactions through credit cards to estimate consumption expenditure.

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Jain, Raj K. "The Seasonal Adjustment Procedures for the Consumer Price Indexes: Some Empirical Results." Journal of Business & Economic Statistics 7, no. 4 (October 1989): 461. http://dx.doi.org/10.2307/1391647.

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Jain, Raj K. "The Seasonal Adjustment Procedures for the Consumer Price Indexes: Some Empirical Results." Journal of Business & Economic Statistics 7, no. 4 (October 1989): 461–69. http://dx.doi.org/10.1080/07350015.1989.10509758.

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Chouayet, Wael, and Anthony Rezitis. "Price Transmission along the European Food Supply Chain in Selected Northern-Southern Countries." International Journal of Food and Beverage Manufacturing and Business Models 1, no. 2 (July 2016): 31–48. http://dx.doi.org/10.4018/ijfbmbm.2016070103.

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This study intends to estimate the different characteristics of price transmission and aims to test the hypothesis of price transmission asymmetry based on agricultural, processor and consumer monthly series of price indexes from 2005 to 2012 in 8 European countries from both Southern and Northern Europe and via the use of time series as well as econometric approaches such as co-intergation and error correction models. The results obtained reveal that price transmission has very small magnitude. Indeed, just 10 to 12% of price shocks at one level are corrected in the long-run by prices at another level both downstream and upstream of the food supply chain. The results also show that prices are transmitted mutually in both directions downstream and upstream the food supply chain in the two European groups. Furthermore, they indicate that in the long-run prices are transmitted symmetrically both downstream and upstream of the food supply chains in Northern as well as in Southern Europe. Finally, in the short-run different conclusions are found depending on the region.

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Feenstra, Robert C., Mingzhi Xu, and Alexis Antoniades. "What is the Price of Tea in China? Goods Prices and Availability in Chinese Cities." Economic Journal 130, no. 632 (November 2020): 2438–67. http://dx.doi.org/10.1093/ej/ueaa066.

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Abstract We examine the price and variety of a sample of consumer goods at the barcode level in cities within China. Unlike the position in the United States, in China the prices of goods tend to be lower in larger cities. We explain that difference between the countries by the more uneven spatial distribution of manufacturers’ sales and retailers in China, and we confirm the pro-competitive effect of city size on reducing markups there. In both countries, there is a greater variety of goods in larger cities, but that effect is more pronounced in China. Combining the lower prices and greater variety, the price indexes in China for the goods we study fall with city size by around seven times more than in the United States.

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Andrade, Giovanna Calixto, Thaís Cristina Marquezine Caldeira, Laís Amaral Mais, Ana Paula Bortoletto Martins, and Rafael Moreira Claro. "Food price trends during the COVID-19 pandemic in Brazil." PLOS ONE 19, no. 5 (May 23, 2024): e0303777. http://dx.doi.org/10.1371/journal.pone.0303777.

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The present study aims to analyze the trends in food price in Brazil with emphasis on the period of the Covid-19 pandemic (from March 2020 to March 2022). Data from the Brazilian Household Budget Survey and the National System of Consumer Price Indexes were used as input to create a novel data set containing monthly prices (R$/Kg) for the foods and beverages most consumed in the country between January 2018 and March 2022. All food items were divided according to the Nova food classification system. We estimated the mean price of each food group for each year of study and the entire period. The monthly price of each group was plotted to analyze changes from January 2018 to March 2022. Fractional polynomial models were used to synthesize price changes up to 2025. Results of the present study showed that in Brazil unprocessed or minimally processed foods and processed culinary ingredients were more affordable than processed and ultra-processed foods. However, trend analyses suggested the reversal of the pricing pattern. The anticipated changes in the prices of minimally processed food relative to ultra-processed food, initially forecasted for Brazil, seem to reflect the impact of the Covid-19 pandemic on the global economy. These results are concerning as the increase in the price of healthy foods aggravates food and nutrition insecurity in Brazil. Additionally, this trend encourages the replacement of traditional meals for the consumption of unhealthy foods, increasing a health risk to the population.

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Gorbunov, V. K., and A. G. Lvov. "The Analysis of Consumer Demand in Russia: Two-Stage Construction of Analytical Indexes." Voprosy statistiki 29, no. 4 (September 6, 2022): 97–113. http://dx.doi.org/10.34023/2313-6383-2022-29-4-97-113.

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The article develops methods for constructing analytical («economic») indices, and their application in the analysis of consumer demand in Russia based on official statistics on the consumption of goods and services (468 items for the period 2012–2017). The «economic» direction of indexology, which is based on the use of consumer demand theory, when constructing prices indices and measuring consumption dynamics, takes into account consumer preferences instead of the subjective biases of statisticians or authors of various index formulas. This direction has a long history, dating back to the 1924 work of the Soviet economist A.A. Konüs. The development of this concept in the works of Western researchers refers only to individual or household demand due to the absence of market demand theory in neoclassical Economics. Such a holistic theory of market demand was developed in recent years in the works of V.K. Gorbunov, and on this basis were developed methods for constructing analytical indices, using the ambiguity of restoring the utility function from a finite set of data for the variant determination of indices with characteristics, namely optimistic, pessimistic, and objective.To compare the traditional and «economic» directions of indexology, the authors constructed Laspeyres, Paasche and Fischer price and quantity indices. The indices were calculated both for the summary statistics of prices and consumption of the population, and for the main groups of consumer goods: food products, non-food products and services. General (two-stage) indices of all types were constructed for group indices and the consistency in aggregation property was tested. The obtained results are a new example of a successful verification of the holistic market demand theory.

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Martin, Robert S., Andy Sadler, Sara Stanley, William Thompson, and Jonathan Weinhagen. "The Geometric Young Formula for Elementary Aggregate Producer Price Indexes." Journal of Official Statistics 38, no. 1 (March 1, 2022): 239–53. http://dx.doi.org/10.2478/jos-2022-0011.

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Abstract We re-estimate historical U.S. Producer Price Indexes (PPI) using the geometric Young formula at the elementary level. The geometric Young has better axiomatic properties than the modified Laspeyres, and may better approximate a feasible economic target. We find in most cases, indexes that use the geometric Young escalate between 0.1 and 0.3 percentage points less each year than those that use the modified Laspeyres. However, for wholesale and retail trade, as well as some other services, the differences are much larger. As a result, using the geometric Young at the elementary level lowers the U.S. PPI for Final Demand by 0.55 percentage points per year during the study period, a magnitude larger than what has been previously found for the U.S. Consumer Price Index.

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Norström, Thor. "The price elasticity for alcohol in Sweden 1984–2003." Nordic Studies on Alcohol and Drugs 22, no. 1_suppl (February 2005): 87–101. http://dx.doi.org/10.1177/145507250502201s21.

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■ Aims The article addresses the following research questions: (i) How strong is the price elasticity for beer, wine and spirits? (ii) How rapid is the effect of a price change? (iii) Is the price elasticity stable across time and space? (iv) Does an increase in price give a corresponding effect as a decrease? ■ Methods & Data The sales data cover Systembolaget's retail sales of beer, wine and spirits for the period from January 1984 to March 2004. The price indexes are based on weighted baskets deflated by a consumer price index. Most of the analyses were performed on quarterly data. The data were analysed using the Box-Jenkins technique for time series analysis. ■ Results The price elasticities—as estimated from quarterly data—were statistically significant for all beverages; –0.8 for beer, –0.6 for wine and and –1 for spirits. Similar estimates were obtained from monthly data, suggesting a fast consumer response to price changes. The elasticity for beer was weaker during the period 1995–2004 (-0.6) than during the period 1984–1994 (-1.4), but it was no different in southern Sweden than in the remainder of the country. An increase in the price of spirits seems to affect sales as much as a price decrease, that is, the price effect seems to be symmetric. Finally, the results indicated that since 1995 sales of beer and wine increased more, and spirits sales less, than predicted from the development in prices. ■ Conclusions The study confirms previous findings that the demand of alcoholic beverages is responsive to changes in price; however, price is not the sole factor that drives the trends in sales. The reduced elasticity for beer may be due to the marked drop in beer prices.

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Armknecht, Paul, and Mick Silver. "Post-Laspeyres: The Case for a New Formula for Compiling Consumer Price Indexes." Review of Income and Wealth 60, no. 2 (November 29, 2012): 225–44. http://dx.doi.org/10.1111/roiw.12005.

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Armknecht, Paul A., and Mick Silver. "Post-Laspeyres: The Case for a New Formula for Compiling Consumer Price Indexes." IMF Working Papers 12, no. 105 (2012): 1. http://dx.doi.org/10.5089/9781475502954.001.

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Gorbunov, V. K., L. A. Kozlova, and A. G. Lvov. "To the Problem of Constructing Analytical Indexes of Market Demand: A Variative Approach." Voprosy statistiki 27, no. 3 (June 30, 2020): 65–80. http://dx.doi.org/10.34023/2313-6383-2020-27-3-65-80.

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The article develops methods for constructing economic (analytical) indexes in the framework of the holistic theory of market demand, built in recent years. By this, the economic indexes presented in the world literature within the framework of the theory of individual demand and, accordingly, related to households, acquire practical value.The introduction provides a brief overview of the main problems of modern indexology and the implementation of an economic approach dating back to the classical work of 1924 by the Soviet statistician A.A. Konüs. The properties of the most well-known «formula» indexes of Laspeyres, Paasche, and Fischer with respect to the fulﬁllment of the Fisher test criteria are described. These indexes play an important role in the methods proposed by the authors for constructing analytical indexes, which are determined through the function of consumer expenditures. The latter is determined by a utility function that rationalizes trade statistics. The rationalizing utility function is constructed ambiguously, and the corresponding task should be speciﬁed. Methods for its solution are proposed, developed within a non-parametric demand analysis of Afriat-Varian. The core of this analysis is the system of linear Afriat’s inequalities that determine the values of the utility function and marginal utility corresponding to statistical demand. This system can be inconsistent and unstable with respect to variations of non-exact demand statistics. In the case of compatibility, inequalities have many solutions, and the choice of different solutions of inequalities gives different values of analytical indexes. The authors suggest three types of tasks for the stable solution of Afriat’s inequalities, which deﬁne indexes with characteristics of optimism (low price indexes and high quantity indexes), pessimism (vice versa) and objectivity.Therefore, the problem of increasing the objectivity of consumer demand indexes receives a theoretically justiﬁed toolbox methods for calculating analytical market demand indexes that take into account, in contrast to formula indices, consumer preferences.

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Elder, John. "OIL PRICE VOLATILITY: INDUSTRIAL PRODUCTION AND SPECIAL AGGREGATES." Macroeconomic Dynamics 22, no. 3 (October 30, 2017): 640–53. http://dx.doi.org/10.1017/s136510051600047x.

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Previous research shows that volatility in oil prices has tended to depress output, as measured by nonresidential investment, gross domestic product, and aggregated measures of industrial production in several countries. This paper investigates the effect of oil price volatility on disaggregated measures of industrial production. The disaggregated measures that we examine are the special aggregates by market groups as calculated by the Federal Reserve Board. Our results are reported for three categories of special aggregates: indexes for industrial production excluding two major industries (technology and motor vehicles), energy-related special aggregates, and non-energy-related special aggregates. Our results indicate that among energy-related market groups, the effects of oil price volatility are concentrated in activities related to primary energy generation and oil and gas drilling. Among non-energy-related market groups, oil price volatility affects a broad range of special aggregates, including aggregates sorted by consumer goods and business equipment.

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Rahmat Budi Santoso, Erawati Kartika, and Ika Listyawati. "Portfolio Diversification Opportunities On The Asean 5 Stock Market And Sectoral Stock Indexes On The Indonesian Stock Exchange." INTERNATIONAL CONFERENCE ON DIGITAL ADVANCE TOURISM, MANAGEMENT AND TECHNOLOGY 1, no. 1 (December 31, 2023): 155–65. http://dx.doi.org/10.56910/ictmt.v1i1.59.

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This study aims to examine portfolio diversification opportunities on the stock markets of Indonesia, Singapore, Malaysia, Thailand, and the Philippines, as well as sectoral stock price indices on the Indonesian Stock Exchange. The data used is the closing daily price index for the period January 2021 – October 2023. The analysis method uses principal component analysis. The results show that the first forming component includes the Indonesian stock market and its sectoral stock price index. The second component is filled by the stock markets of Singapore, Malaysia, Thailand, and the Philippines. The third component is the consumer goods cyclical and technology sector, then the fourth component is the consumer goods non-cyclical and healthcare sector. Based on the research results, it shows that there are differences in return variance between the five stock markets on ASEAN 5 and the sectoral stock price index on the Indonesia Stock Exchange. Investors can diversify their portfolios into other countries stock markets that have a low correlation with the domestic stock market. This also helps investors outside Indonesia to look for opportunities to diversify into various stock sectors on the Indonesian stock exchange, even though the opportunities are limited.

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Xu, Tianyu, and Xiaoling He. "EMD-BiLSTM Stock Price Trend Forecasting Model based on Investor Sentiment." Frontiers in Computing and Intelligent Systems 4, no. 3 (July 20, 2023): 139–43. http://dx.doi.org/10.54097/fcis.v4i3.11268.

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The movement of stock prices is the focus of investors' attention in the stock market, so stock price trend prediction has always been a hot topic in quantitative investment research. Traditional machine learning forecasting models are difficult to process nonlinear, high-frequency, high-noise stock price time series, which makes the prediction accuracy of stock price trends low. In order to improve the prediction accuracy, according to the temporal characteristics of stock price data, it is proposed to use a combination of empirical mode decomposition (EMD), investor sentiment and two-way long short-term memory neural network to predict the rise and fall of stock prices. Firstly, the empirical mode decomposition algorithm is used to extract the characteristics of the stock price time series on different time scales, and the investor sentiment indicators of the text from the close of the previous stock trading day to the opening of the next trading day are extracted by constructing a financial sentiment dictionary, and finally the EMD-BiLSTM model is used to predict the rise and fall of the next index trading day. Experiments on the dataset of stock price series show that the optimized BiLSTM model has strong predictive ability for the trend of consumer sector indexes.

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Saad, Ammar, Zhang Rui Tao, and Xia Ying. "Comparative Advantage and Market Distortions: A Policy Analysis Matrix for Iraqi Wheat Crop Production." Journal of Agricultural Science 11, no. 2 (January 15, 2019): 82. http://dx.doi.org/10.5539/jas.v11n2p82.

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Wheat is the most crop have been subsidized by the government in Iraq, through subsidizing the input of the production (seed, pesticide, and machines), as well as, subsidize the output of the production through purchasing it from the producers at a high price compared to the world market price. The study aims to assess the competitive advantage of wheat production in Iraq through some of the measures derived from the policy analysis matrix. This study according to secondary data has published by Iraqi Ministry of Planning/Central Organization of Statistics and Information Technology 2018, for wheat production costs of cultivation season in Iraqi provinces 2017. The results of the study indicated that the coefficients measures show, there is a government subsidy for wheat output and that means, producers receive prices higher than international prices with the existence of this policy. While the comparative advantage indicators showed, the wheat crop in Iraq was achieved private profits due to government intervention in the inputs and outputs of production, nor competitive advantage in social prices. Where the policy reflection indexes/market distortions analysis shows, that the government policy for wheat production 2017 subsidized the producers on the consumer cost, where the local market price for wheat is higher than the price of wheat in the world market.

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Liu, Yuqi. "Inflation Measurement in China under the Coronavirus Pandemic." Highlights in Business, Economics and Management 5 (February 16, 2023): 374–79. http://dx.doi.org/10.54097/hbem.v5i.5107.

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The consumer price index (CPI) and core consumer price index (core-CPI) are the main indicators reflecting the price level and inflation of a country or region. The two indicators and their transmission relationship are also widely concerned by the economic community. Theoretically, these two indexes will not fluctuate suddenly. However, in recent years, due to the uncertainty of the Corona Virus Disease 2019, the trends of both indicators have declined to vary degrees. This paper will start with the CPI, CORE-CPI, and inflation rate from 2017 to the present, and analyze the reasons behind their abnormal phenomenon. The results showed that the pork sales volume was the main reason for causing the fluctuations. Understanding the reasons for the decline will help China quickly formulate the most effective plan and help the inflation index to return to the right track. At the same time, it timely leads the country out of difficulties.

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Nabila, Risa, and R. Myrna Nur Sakinah. "Analysis of Icons, Indexes, and Symbols in YouTube Advertisement of SilverQueen Very Berry Yoghurt." Journal of Scientific Research, Education, and Technology (JSRET) 2, no. 1 (December 29, 2022): 1–20. http://dx.doi.org/10.58526/jsret.v2i1.34.

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Advertising as a material for semiotic study, this article describes the signs found in SilverQueen chocolate advertisements for the very berry yogurt flavor variant on YouTube and also the meaning of the signs between the signifier and signified based on the object. This study aims to find out signifiers and signifieds, find out the meaning contained in SilverQueen chocolate advertisements with very berry yogurt flavors on YouTube, such as how semiotics looks at the meaning of messages in advertisements. The method used in this study uses qualitative analysis methods. With this method, researchers can study and examine the meaning contained in a sign based on the information obtained by researchers, such as video footage in advertisements depicting messages for consumers, creating recognizable products with the intention of attracting consumer interest in the form of names, packaging, logo, price, and the power of image visualization.

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Greenlees, John S., and Robert McClelland. "Does Quality Adjustment Matter for Technologically Stable Products? An Application to the CPI for Food." American Economic Review 101, no. 3 (May 1, 2011): 200–205. http://dx.doi.org/10.1257/aer.101.3.200.

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Most indexes in the Consumer Price Index (CPI) use a form of the “matched-model” approach. It is frequently assumed that this approach accurately reflects inflation for items that have no major trend in quality. In this paper we investigate that hypothesis using CPI data for retail food items. We find that CPI analysts may be correct on average when they decide that new and replacement items are similar in quality. We also find, however, that when sample items are replaced by items of significantly different quality the CPI imputation procedures may underestimate price change and overstate quality change.

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Cheng, Andy Wui Wing, and Iris Wing Han Yip. "China’s Macroeconomic Fundamentals on Stock Market Volatility: Evidence from Shanghai and Hong Kong." Review of Pacific Basin Financial Markets and Policies 20, no. 02 (May 18, 2017): 1750014. http://dx.doi.org/10.1142/s021909151750014x.

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This paper examines the effect of Chinese macroeconomic variables, the industrial production growth rate, the producer price index, the 3-month short-term Shanghai Interbank Offer Rate and the consumer price index, on the volatility of the Shanghai and Hong Kong stock markets. We apply the generalized autoregressive conditional heteroskedastic mixed data sampling model for the study. Our empirical findings on various indexes and enterprises in the Shanghai and Hong Kong markets show that Chinese macroeconomic variables have a greater power to explain the volatility in Hong Kong than in Shanghai. They also contribute significantly to Hong Kong’s market volatility.

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Cheng, Fangze, and Zitian Fu. "Macroeconomic Forecasting Based on Mixed Frequency Vector Autoregression and Neural Network Models." Wireless Communications and Mobile Computing 2022 (August 30, 2022): 1–12. http://dx.doi.org/10.1155/2022/2956289.

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Macroeconomic indicators include gross domestic product (GDP), consumer price index (CPI), and retail price index (RPI). These indicators are important for understanding the macroeconomic situation and controlling the macroeconomic trend, as they provide a macroscopic view of a country or region’s economic performance. If macroeconomic indicators can be predicted accurately in advance, the government and relevant macroeconomic control departments can propose more forward-looking and targeted macroeconomic control policies and deploy the necessary control measures. In addition, individuals can make more reasonable decisions on their investments and savings if they know the macroeconomic indexes in advance. From these two aspects, prediction of macroeconomic indexes is of great research significance. In this paper, we propose a prediction model based on chaotic vector autoregression and neural networks for macroeconomic forecasting, and we model and test the prediction with GDP and inflation as the main concerns, and we find that the improvement of GDP forecasting shows an increase of expected inflation rate, indicating the usefulness of using expected GDP data.

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Popp, József, Judit Oláh, Mária Farkas Fekete, Zoltán Lakner, and Domicián Máté. "The Relationship Between Prices of Various Metals, Oil and Scarcity." Energies 11, no. 9 (September 11, 2018): 2392. http://dx.doi.org/10.3390/en11092392.

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No consensus has been reached on the problem of solving resource depletion. A recognition of the fact that resources are not endless and the Earth is a finite globe reinforces the idea that the vision of continuous economic growth is not sustainable over time. The aim of this paper is to examine the efficacy of real prices as an indicator of metals and oil in consideration of growth tendencies in the Consumer Price Indexes. In addition, enhancing the current literature on commodity price interrelationships, the main contribution of this study is the substitution of different proxies in order to justify the effect of scarcity and crude oil changes on the examined metal group prices. In order to demonstrate the usefulness of scarcity as an indicator of real price deviations, the study has been conducted involving various non-renewable metals, i.e., copper, molybdenum, zinc, gold and platinum group metals. The real price indices and metal prices of the US market are constructed between 1913 and 2015. Moreover, additional econometric analyses are also carried out to discover whether prices of various metals associate with oil prices and scarcity, as the proxy of reserves-to-production ratio. The linear regression results seem to suggest that the effects of the R/P ratios are negatively correlated with each of the examined precious (gold, PGMs), mass consumable (copper, zinc) and doping agent (molybdenum) metals from 1991 to 2015. An increase in oil-prices is positively associated with the price levels of each non-renewable resource in the short-run. The findings of multivariate co-integration and Granger causality tests also suggest that pairwise and direct relationships among these variables seem to arise in the long-run. These findings indicate essential questions that must be addressed by future generations in order to appropriately solve scarcity problems.

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Kim, Kim, and Choi. "Analyzing Oil Price Shocks and Exchange Rates Movements in Korea using Markov Regime-Switching Models." Energies 12, no. 23 (December 1, 2019): 4581. http://dx.doi.org/10.3390/en12234581.

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Korea imports all of its crude oil, and is the world's fifth largest oil importing country. We analyze the effects of oil prices, interest rates, consumer price indexes (CPIs), and industrial production indexes (IPIs) on the regime shift behavior of the Korean exchange rates against the USA from January 1991 to March 2019. We use the Markov regime switching model (MRSM) to detect the regime shift behavior of the movements of Korean exchange rates. In order to select the optimal MRSM, we fit a total of 30 models considering four explanatory variables. The selected model based on Akaike information criteria (AIC) and maximum log likelihood (MLL) includes the log-differentials of oil prices, the log-differentials of CPIs compared to those of the US, and its own auto-regressive terms. Based on the selected MRSM model, throughout all markets, we find evidence to support the existence of two distinct regimes: a stable regime with low-volatility, and an unstable regime with high-volatility. The regime with high-volatility includes the Asian financial crisis of 1997 and the global financial crisis of 2008–2009 in the Korean exchange rates market. In the regime with low-volatility, the Korean exchange rates are not significantly influenced by any of the explanatory variables, except for its own auto-regressive terms. In the regime with high-volatility, the Korean exchange rates are significantly influenced by the CPIs and oil prices. The transition probability from the regime with low-volatility to the regime with high-volatility is about ten times that of the opposite case.

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Journal articles on the topic 'Consumer price indexes'

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