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Big Data in the US Consumer Price Index: Experiences and Plans

In: Big Data for Twenty-First-Century Economic Statistics

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  • Crystal G. Konny
  • Brendan K. Williams
  • David M. Friedman

Abstract

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Suggested Citation

  • Crystal G. Konny & Brendan K. Williams & David M. Friedman, 2019. "Big Data in the US Consumer Price Index: Experiences and Plans," NBER Chapters, in: Big Data for Twenty-First-Century Economic Statistics, pages 69-98, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:14280
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    File URL: http://www.nber.org/chapters/c14280.pdf
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    References listed on IDEAS

    as
    1. Ivancic, Lorraine & Erwin Diewert, W. & Fox, Kevin J., 2011. "Scanner data, time aggregation and the construction of price indexes," Journal of Econometrics, Elsevier, vol. 161(1), pages 24-35, March.
    2. Daniel Melser & Iqbal A. Syed, 2016. "Life Cycle Price Trends and Product Replacement: Implications for the Measurement of Inflation," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(3), pages 509-533, September.
    3. Alberto Cavallo & Roberto Rigobon, 2016. "The Billion Prices Project: Using Online Prices for Measurement and Research," Journal of Economic Perspectives, American Economic Association, vol. 30(2), pages 151-178, Spring.
    4. Brendan Williams & Erick Sager, 2019. "A New Vehicles Transaction Price Index: Offsetting the Effects of Price Discrimination and Product Cycle Bias with a Year-Over-Year Index," Economic Working Papers 514, Bureau of Labor Statistics.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. David M. Byrne, 2022. "The Digital Economy and Productivity," Finance and Economics Discussion Series 2022-038, Board of Governors of the Federal Reserve System (U.S.).
    2. Xavier Jaravel & Erick Sager, 2018. "What are the Price Effects of Trade? Evidence from the U.S. and Implications for Quantitative Trade Models," Economic Working Papers 506, Bureau of Labor Statistics.
    3. Kozo Ueda & Kota Watanabe & Tsutomu Watanabe, 2021. "Household Inventory, Temporary Sales, and Price Indices," CARF F-Series CARF-F-520, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    4. Carolyn Wolff & Randall Lutter, 2020. "Why are pharmacy acquisition costs and consumer prescription drug price indices apparently diverging?," Health Economics, John Wiley & Sons, Ltd., vol. 29(12), pages 1721-1727, December.
    5. Ilaria Benedetti & Tiziana Laureti & Luigi Palumbo & Brandon M. Rose, 2022. "Computation of High-Frequency Sub-National Spatial Consumer Price Indexes Using Web Scraping Techniques," Economies, MDPI, vol. 10(4), pages 1-20, April.
    6. Jaravel, Xavier & Sager, Erick, 2019. "What are the price effects of trade? Evidence from the US for quantitative trade models," LSE Research Online Documents on Economics 103402, London School of Economics and Political Science, LSE Library.
    7. Alex Isakov & Rodion Latypov & Andrey Repin & Egor Postolit & Alexey Evseev & Elena Sinelnikova-Muryleva, 2021. "Hard Numbers: Open Consumer Price Database," Russian Journal of Money and Finance, Bank of Russia, vol. 80(1), pages 104-119, March.

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    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

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