Generating the Consumption-Innovation Price Index

The study, 'Equilibrium of Relations that subsist between the Activities of Consumption and the Activities of Innovation (Obrimah 2022ci)' arrives at a price index - the Consumption-Innovation Price Index - that is the periodic mathematical equilibrium of the activities of consumption and the activities of innovation. Seminally, Lancaster (1966) motivates the existence of a Consumption-Innovation Equilibrium, equivalently the existence of a Consumption-Innovation Price Index. Obrimah (2022ci) is the first study to arrive at a mathematical formulation of a Consumption-Innovation Price Index (CIPI). The data and the Stata program in this submission facilitate replication of the CIPI that is obtained in Obrimah (2022ci) and the antecedent regression results, all of which establish that CIPI and it's derivative - the 'frequency of savings-depleting innovations (FI)' - both outperform GDP Per Capita as measures of country equilibriums. As ought to be expected, FI resides between 0 and 1, as such has parameterization, explicitly as a frequency curve. A lower (respectively, higher) score on CIPI evinces, not a lower (respectively, higher) frequency of, but rather lower (respectively, higher) price levels that are induced by savings-enhancing (respectively, savings-depleting) innovations. In stated respect, if CIPI (cast as the dependent variable in a regression) increases with some variable of interest (independent variable), the variable of interest contributes to inflationary pressures. If, on the contrary, CIPI decreases with some variable of interest, the variable of interest contributes to deflationary pressures. In Obrimah (2022ci), the demand for education is shown to be associated with aspirations for savings-depleting innovations, indicating the demand for education can be either of positional or hedonistic.

本研究《消费活动与创新活动间存续关系的均衡（Obrimah 2022ci）》推导出一类价格指数——消费-创新价格指数（Consumption-Innovation Price Index, CIPI），其为消费活动与创新活动的周期性数学均衡结果。开创性地，兰开斯特（Lancaster, 1966）提出了消费-创新均衡的存在性，等价于消费-创新价格指数的存在性。Obrimah（2022ci）是首项推导出消费-创新价格指数（Consumption-Innovation Price Index, CIPI）数学表达式的研究。本提交所附带的数据与Stata程序，可复现Obrimah（2022ci）中得到的CIPI及其前期回归结果，二者均证实：CIPI及其衍生指标——储蓄消耗型创新频率（frequency of savings-depleting innovations, FI），均优于人均GDP（Gross Domestic Product Per Capita），可作为国家均衡水平的衡量指标。正如预期，FI的取值介于0与1之间，因此可被参数化为频率曲线形式。CIPI得分较低（较高）时，并非对应更低（更高）的创新频率，而是反映由储蓄增强型（储蓄消耗型）创新所引致的价格水平更低（更高）。就此而言，若将CIPI作为回归被解释变量，其随某关注变量（解释变量）上升，则该关注变量会带来通胀压力；反之，若CIPI随该关注变量下降，则该关注变量会带来通缩压力。在Obrimah（2022ci）中，教育需求被证实与储蓄消耗型创新的诉求相关，这表明教育需求可分为地位性需求与享乐性需求两类。