A non-parametric bound on substitution bias in the UK retail prices index

  • Laura Blow
  • Ian Crawford

Published on 28 May 1999

This paper uses revealed preference restrictions and nonparametric statistical methods to bound true cost-of-living indices.

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This paper uses revealed preference restrictions and nonparametric statistical methods to bound true cost-of-living indices. These are compared to the popular price indices including the type used to calculated the UK RPI. This is used to assess the method of calculating the RPI for substitution bias.

Authors

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Laura Blow

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Ian Crawford

Working Paper details

DOI
10.1920/wp.ifs.1999.9915
Publisher
IFS

Suggested citation

Blow, L and Crawford, I. (1999). A non-parametric bound on substitution bias in the UK retail prices index. London: IFS. Available at: https://ifs.org.uk/publications/non-parametric-bound-substitution-bias-uk-retail-prices-index (accessed: 30 June 2024).

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