BLS programs | Related articles
December 1993, Vol. 116,
The commodity substitution effect in CPI data,
Ana M. Aizcorbe
Economist, Federal Reserve Board
Patrick C. Jackman
Economist, Division of Price and Price
Indexes, Bureau of Labor Statistics
Recent analysis of the substitution effects in CPI-like Laspeyres measures of
price change indicate small differences across index number
formulas. This article examines trends in the commodity
substitution effect over a 10-year period.
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