dc.contributor.author | Somerville, R. A. | |
dc.date.accessioned | 2011-12-21T10:13:04Z | |
dc.date.available | 2011-12-21T10:13:04Z | |
dc.date.issued | 2004 | |
dc.identifier.citation | Somerville, R.A. 'Changes in relative consumer prices and the substitution bias of the Laspeyres price index: Ireland, 1985-2001'. - Economic & Social Review, Vol. 35, No. 1, Spring, 2004, pp. 55-82, Dublin: Economic & Social Research Institute | |
dc.identifier.issn | 0012-9984 | |
dc.identifier.other | JEL D12 | |
dc.identifier.other | JEL E31 | |
dc.description.abstract | This paper shows that Irish relative consumer prices have changed significantly, 1985-2001, at the ten commodity-group level. A ?true? cost-of-living index is derived from Madden?s (1993) parameter estimates for an Almost Ideal Demand System. Despite relative price changes, the substitution bias of a computed Laspeyres index is small, and the official Consumer Price Index tracks the computed index closely. Superlative indices are also constructed, but are not satisfactory cost-of-living indices in this context. Cost-of-living indices are computed for different income groups, and the impact of inflation in recent years is found to be negatively correlated with income. | en |
dc.language.iso | en | |
dc.publisher | Economic & Social Studies | |
dc.relation.ispartof | Vol.XX, No. XX, Issue, Year | |
dc.source | Economic & Social Review | en |
dc.subject | Consumer prices | en |
dc.subject | Inflation | en |
dc.subject | Cost of living indices | en |
dc.subject | Ireland | en |
dc.title | Changes in relative consumer prices and the substitution bias of the Laspeyres price index: Ireland, 1985-2001 | |
dc.type | Journal Article | |
dc.publisher.place | Dublin | en |
dc.identifier.uri | http://hdl.handle.net/2262/61370 | |