- Title
- Assessing Bias in the Consumer Price Index from Survey Data
- Author(s)
- Alan B. Krueger Alan Krueger (Princeton University and NBER)
- Aaron Siskind Aaron Siskind (Princeton University)
- 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.
- Creation Date
- 1997-12
- Section URL ID
- IRS
- Paper Number
- 392
- URL
- https://dataspace.princeton.edu/bitstream/88435/dsp01m613mx57z/1/392.pdf
- File Function
- Jel
- F12
- Keyword(s)
- consumer price index, CPI, real income, PSID, Panel Study of Income Dynamics
- Suppress
- false
- Series
- 1