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The Common-Scaling Social Cost-of-Living Index

Crossley, Thomas F and Pendakur, Krishna (2010) 'The Common-Scaling Social Cost-of-Living Index.' Journal of Business & Economic Statistics, 28 (4). pp. 523-538. ISSN 0735-0015

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Abstract

If preferences or budgets are heterogeneous across people (as they clearly are), then individual cost-ofliving indexes are also heterogeneous. Thus, any social cost-of-living index faces an aggregation problem. In this article, we provide a solution to this problem that we call a "common-scaling" social cost-of-living index (CS-SCOLI). In addition, we describe nonparametric methods for estimating such social cost-ofliving indexes. As an application, we consider changes in the social cost-of-living in the U.S. between 1988 and 2000. © 2010 American Statistical Association.

Item Type: Article
Uncontrolled Keywords: Average derivatives; CPI; Demand; Inflation
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Economics, Department of
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 04 Sep 2013 09:46
Last Modified: 18 Aug 2022 10:46
URI: http://repository.essex.ac.uk/id/eprint/7510

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