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dc.contributor.authorGibson, John
dc.contributor.authorScobie, Grant
dc.date.accessioned2010-10-04T01:49:52Z
dc.date.available2010-10-04T01:49:52Z
dc.date.issued2010
dc.identifier.citationGibson, J. & Scobie, G. (2010). Using Engel curves to estimate CPI bias in a small, open, inflation-targeting economy. Applied Financial Economics, 20(17), 1327-1335.en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/4643
dc.description.abstractThe Consumer Price Index (CPI) bias for New Zealand is calculated by estimating the food Engel curves for demographically similar households with the same level of CPI-deflated incomes at different points in time. For the 17 years from 1984 to 2001 the bias in the New Zealand CPI as a cost-of-living index averaged over 1% annually. This bias is similar to estimates for the US when the same method is used over a similar era. Thus, the claim of some statistical agencies that bias in their own CPI is less than the widely discussed bias in the US may not be supported. The estimated CPI bias justifies the initial choice of inflation target for the Reserve Bank of New Zealand but not the recent raising of the target.en_NZ
dc.language.isoen
dc.publisherRoutledgeen_NZ
dc.relation.urihttp://www.informaworld.com/smpp/content~content=a926717522~db=all~jumptype=rssen_NZ
dc.subjectConsumer Price Indexen_NZ
dc.subjectCPIen_NZ
dc.subjectNew Zealanden_NZ
dc.titleUsing Engel curves to estimate CPI bias in a small, open, inflation-targeting economyen_NZ
dc.typeJournal Articleen_NZ
dc.identifier.doi10.1080/09603107.2010.491441en_NZ
dc.relation.isPartOfApplied Financial Economicsen_NZ
pubs.begin-page1327en_NZ
pubs.elements-id35341
pubs.end-page1335en_NZ
pubs.issue17en_NZ
pubs.volume20en_NZ


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