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Title: Assessing Bias in the Consumer Price Index from Survey Data
Authors: Krueger, Alan B.
Siskind, Aaron
Keywords: consumer price index
real income
Issue Date: 1-Dec-1997
Citation: Monthly Labor Review, vol. 121, no. 4, April 1998
Series/Report no.: Working Papers (Princeton University. Industrial Relations Section) ; 392
Abstract: This paper compares self-reported changes in families’ financial status to actual changes based on annual time-series data calculated from the PSID. The results indicate that the Consumer Price Index does a reasonably accurate job reconciling self-reported changes in financial status with measured changes in real income. Earlier work by Nordhaus (I998) reached a different conclusion because it did not account for changes in the shape of the income distribution.
Appears in Collections:IRS Working Papers

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