The biases of CPI
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Intros
Lessons
- 4 Bias of CPI
- New Goods Bias
- Quality Change Bias
- Commodity Substitution Bias
- Outlet Substitution Bias
- Magnitude & Consequences of the Bias
- Magnitude of the Bias
- Overstate of Inflation by 1.1% a year
- Consequences of the Bias
- Private Contracts and Government Outlays
- Alternatives to CPI
- Chained CPI
- Personal Consumption Expenditure Deflator
- GDP Deflator
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