Getting Prices Right

Getting Prices Right

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One of the hottest debates in economics today is being waged over the accuracy of the consumer price index. The outcome of this debate will have enormous implications for national economic policy and the future of economic research. Getting Prices Right presents the work at the center of this debate - the report of the congressionally appointed Advisory Commission to Study the Consumer Price Index, popularly known as the Boskin Commission - and critically evaluates its findings and implications.FIGURE 14: Competing Price Indices: CPI, Sears, and Consumer fleports- Adjusted 8 220 200 180 7\ 160 S Ap 140 120 100 80 \ Consumerfleports-adjusted I CPI 1953 1956 1959 1962 1965 1968 1971 1974 1977 1980 1983 This chart shows the rate of inflation for ... Robert Gordon based on Sears catalogs, and an aquot; energy and repair cost adjustedaquot; index he constructed from Consumer Reports magazine.

Title:Getting Prices Right
Author:Dean Baker, Economic Policy Institute
Publisher:M.E. Sharpe - 1998


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