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The retail price index and the cost-of-living index: Testing for consistency in theory and practice.

Abstract:
This paper tests the published section-level price and weight data used in the compilation of the UK retail price index (RPI) for consistency with the theory of the cost-of-living index. We use a non-parametric test of theoretical consistency and bootstrap statistical methods to estimate the probability of consistency.

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Authors


Ian Crawford More by this author
Isabella Image More by this author
Journal:
Fiscal Studies
Volume:
25
Issue:
1
Publication date:
2004-03-05
DOI:
URN:
uuid:994f7408-0d90-413b-8de8-a91dec19b2e7
Local pid:
oai:economics.ouls.ox.ac.uk:14970
Language:
English

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