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2 results

  • Appendix A - Measuring Prices

  • Jeremy B. Rudd
  • Book:
    A Practical Guide to Macroeconomics
    Published online:
    28 March 2024
    Print publication:
    04 April 2024, pp 239-258

  • Summary

    Various measures of prices, wages, and long-run inflation expectations are described. Basic index number formulas used for price statistics and potential sources of measurement error in price data are discussed. Alternative ways to remove noise from price measures, including trimmed-mean and median approaches, are described and assessed.

  • The Mysterious Cross-Country Dispersion in Mobile Phone Price Trends

  • David M. Byrne
  • Journal:
    National Institute Economic Review / Volume 249 / August 2019
    Published online by Cambridge University Press:
    01 January 2020, pp. R39-R46
    Print publication:
    August 2019

  • Mobile phones have been central to ICT innovation since the introduction of the smartphone and constant-quality prices are a barometer of their economic impact. Official consumer price indices (CPIs) indicate that impact differs wildly across countries: for the 2008–18 period, average annual rates of mobile phone inflation range from no change to a 25 per cent decline among 12 key countries examined in this paper. Although evidence indicates certain fundamental factors are at play, mis-measurement may lead the spread in rates to be overstated. Examination of methods employed in CPI calculation, including quality adjustment and index formulas, illuminates but does not resolve the mystery.