Measuring Aggregate Price Indexes with Taste Shocks: Theory and Evidence for CES Preferences
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We develop an approach to measuring the cost of living for CES preferences that treats demand shocks as taste shocks that are equivalent to price shocks. In the presence of relative taste shocks, the Sato-Vartia price index is upward biased because an increase in the relative consumer taste for a
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美国国家经济研究局创建时间：
2016-08-01
