The University of Dublin | Trinity College -- Ollscoil Átha Cliath | Coláiste na Tríonóide
Trinity's Access to Research Archive
Home :: Log In :: Submit :: Alerts ::

TARA >
Economic and Social Review >
Economic and Social Review Archive: Complete Collection 1969- >

Please use this identifier to cite or link to this item: http://hdl.handle.net/2262/61370

Title: Changes in relative consumer prices and the substitution bias of the Laspeyres price index: Ireland, 1985-2001
Author: Somerville, R. A.
Keywords: Consumer prices
Inflation
Cost of living indices
Ireland
Issue Date: 2004
Publisher: Economic & Social Research Institute
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
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.
URI: http://hdl.handle.net/2262/61370
ISSN: 00129984
Appears in Collections:Economic and Social Review Archive: Complete Collection 1969-
The Economic and Social Review, Vol. 35, No. 1, Spring, 2004

Files in This Item:

File Description SizeFormat
Vol35_1Somervill.pdfPublished (publisher's copy) - Peer Reviewed156.28 kBAdobe PDFView/Open


This item is protected by original copyright


Please note: There is a known bug in some browsers that causes an error when a user tries to view large pdf file within the browser window. If you receive the message "The file is damaged and could not be repaired", please try one of the solutions linked below based on the browser you are using.

Items in TARA are protected by copyright, with all rights reserved, unless otherwise indicated.

 

Valid XHTML 1.0! DSpace Software Copyright © 2002-2010  Duraspace - Feedback