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. "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
What are the Issues? by W. Erwin Diewert and John Greenlees and Charles Hulten
A Review of Reviews: Ninety Years of Professional Thinking About the Consumer Price Index by Marshall Reinsdorf and Jack E. Triplett
Apparel Prices 1914-1993 and the Hultenl Bruegel Paradox by Robert J. Gordon
Reassessing the U.S. Quality Adjustment to Computer Prices: The Role of Durability and Changing Software by Robert C. Feenstra and Christopher R. Knittel
Hedonic Imputation versus Time Dummy Hedonic Indexes by W. Erwin Diewert and Saeed Heravi and Mick Silver
Comment by Jan de Haan
Reply by W. Erwin Diewert and Saeed Hera vi and Mick Silver
CPI Bias from Supercenters: Does the BLS Know That Wal-Mart Exists? by Jerry Hausman and Ephraim Leibtag
Comment by Marshall Reinsdorf
Comment by Mick Silver
Incorporating Financial Services in a Consumer Price Index by Dennis Fixler
Comment: Susanto Basu
A General Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output by J. Christina Wang and Susanto Basu and John G. Fernald
Comment by Paul Schreyer
Can A Disease-Based Price Index Improve the Estimation of the Medical Consumer Price Index? by Xue Song and William D. Marder and Robert Houchens and Jonathan E. Conklin and Ralph Bradley
Comment by Ernst R. Berndt
Price and Real Output Measures for the Education Function of Government: Exploratory Estimates for Primary and Secondary Education by Barbara M. Fraumeni and Marshall Reinsdorf and Brooks B. Robinson and Matthew P. Williams
Measuring the Output and Prices of the Lottery Sector: An Application of Implicit Expected Utility Theory by Kam Yu
Comment by Alan G. White
Consumption of Own Production and Cost-of-Living Indexes by T. Peter Hill
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