Full Citation

Title: A Century of Housing Shelter Prices: How Big is the CPI Bias?

Citation Type: Conference Paper

Publication Year: 2003

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Abstract: This paper develops new price indexes from a variety of sources to assess the hypothesis that the Consumer Price Index (CPI) for rental shelter housing has been biased downward for its entire history since 1914. Rental shelter housing is the most important single category of the CPI, especially for those years when rent data have been used to impute price changes for owner-occupied housing. If valid, the implications of the hypothesis of downward bias would carry over to the deflator for Personal Consumption Expenditures (PCE) and, in the opposite direction, to historicalmeasures of real PCE and real GDP...

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Authors: vanGoethem, Todd; Gordon, Robert J.

Conference Name: CRIW Conference in Memory of Zvi Griliches, Hard-to-Measure Goods and Services

Publisher Location: Bethesda, MD

Data Collections: IPUMS USA

Topics: Housing and Segregation

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