Approximating the Cost-of-Living Index for a Storable Good
Approximating the Cost-of-Living Index for a Storable Good
复制标题
近似可储存物品的生活成本指数
DOI：
--
复制
发表时间：
2018
期刊：
影响因子：
--
通讯作者：
M. Osborne
中科院分区：
文献类型：
--
作者：
M. Osborne
本文使用动态结构模型对两种可储存产品类别的生活成本指数进行了估计。在每个类别中，观察到向更高或更低零售价格的制度转变。固定基数指数在捕捉政权更迭后的福利变化方面做得很差，与动态指数的偏差高达300%。我评估的程度，最近提出的两个指数可以近似模型衍生的指数。这些指数改善了福利的衡量，并且易于计算。该类别的竞争结构和政权转移的特点决定了这两个提供了一个更好的近似。
This paper estimates a cost-of-living index using a dynamic structural model for two storable product categories. In each category, regime shifts to higher or lower retail prices are observed. Fixed-base indexes do a poor job of capturing changes in welfare after a regime shift, and deviate from the dynamic index by as much as 300 percent. I evaluate the extent to which two recently proposed indexes can approximate the model-derived index. These indexes improve welfare measurement and are straightforward to compute. The category's competitive structure and features of the regime shift determine which of the two provides a better approximation.