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Identifier to cite or link to this item: https://hdl.handle.net/10086/27018

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Title
Estimating Upward Bias of Japanese Consumer Price Index Using Engel's Law
Creator
Creator Name
HIGA, Kazuhito HIGA, Kazuhito
比嘉, 一仁 比嘉, 一仁
Affiliation
Affiliation Name
Hitotsubashi University
Key Word
consumer price index bias
Engel’s Law
JEL
C10
E31
D12
Abstract (distribution restricted)
The Japanese Consumer Price Index (CPI) is considered to be upwardly biased. This paper estimated the Engel curve based on National Survey of Family Income and Expenditure data to measure the bias. The estimated bias for the period 1989 to 2004 was 0.53 percentage points per annum. Correcting the bias led to a lower inflation rate of 0.14 percent per year, against the official inflation rate of 0.65 percent during the period. A demographic analysis showed that a household with a non-working spouse faced a larger bias suggesting that the opportunity cost of shopping determines the size of the bias.
Publisher
Graduate School of Economics, Hitotsubashi University
Issued Date
2014-12-17
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Discussion papers ; No. 2014-21
Number of Pages
36
Appears in Collections
Discussion papers / Graduate School of Economics, Hitotsubashi University
URL
https://hdl.handle.net/10086/27018