Abstract
William Larson and Sylvia Leaver (2002) "Assessing the Impact of Imputation on the Sampling Variance of the U.S. Consumer Price Index."
Imputation of basic-level price change, due primarily to sample
attrition and item unavailability, occurs frequently in price index
production. Though current variance estimation procedures do take
basic-level imputations into account, it is of interest to assess the
contribution to total variance that these imputations represent. In this
paper, we present estimates of the sampling variance of price change for
the U. S. Consumer Price Index which exclude the additional component of
variation attributable to basic-level imputation . Variances are
presented for one- and twelve-month price change lags, using a
stratified random groups methodology. Estimates are contrasted with
production variance estimates for the same series.
Last Modified Date: March 19, 2003
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