Research ArticleOpen AccessGoogle Scholar indexed
Is Urban China’s CPI Underreported?
School of Economics, Renmin University of China, Beijing, China
- 1 School of Economics, Renmin University of China, Beijing, China
Chinese Studies·Volume 02 (2013)·Pages 149–151·Published 13 November 2013·DOI10.4236/chnstd.2013.24024
Copy link · social · email
Abstract
Many have doubts about statistics, including the consumer price index (CPI) released by Chinese Government. We re-estimate the CPI in urban China from 1997 to 2009, with two widely accepted approaches to treating owner-occupied housing (i.e., user cost approach and consumption cost approach). The results are not considerably different from the NBS statistics, especially for recent years.
KeywordsConsumer Price IndexOwner-Occupied HousingUser Cost ApproachConsumption Cost Approach
- Beatty, T. K. M., & Larsen, R. E. (2005). Using Engel curves to estimate bias in the Canadian CPI as a cost of living index. The Canadian Journal of Economics, 2, 482-499.
- Beatty, T. K. M., Larsen, R. E., & Sommervoll, D. E. (2010). Using House Prices to Compute the Price of Housing in the CPI. Economics Letters, 106, 238-240.
- Diewert, W. E., Nakamura, O. A., & Nakamura, I. L. (2009). The housing bubble and a new approach to accounting for housing in a CPI. Journal of Housing Economics, 18, 156-171.
- He, Xinhua 何新华 (2010) Zhunque lijie CPI zhizheng de jige guanjian gainian. 准确理解CPI 之争中的几个关键概念. IWEP Working Paper No. DSWP201003, Institute of World Economics and Polictics Chinese Academy of Social Sciences, Beijing. (in Chinese)
- International Labour Organization (2004). Chapter 23: Durables and User Costs. In Consumer price index manual: Theory and practice (pp. 420-422, 438-441). Geneva: International Labour Organization. http://www.ilo.org/public/english/bureau/stat/guides/cpi/index.htm
- Katz, A. J. (2009) Estimating dwelling services in the candidate countries: theoretical and practical considerations in developing methodologies based on a user cost of capital measure. In: W. E. Diewert, B. M. Balk, D. Fixler, K. J. Fox, & A. O. Nakamura (Eds.), Price and productivity measurement, housing (pp. 33-50). Bloomington, IN: Trafford Press.
- Larsen, R. E. (2007) Does the CPI mirror the cost of living? Engel’s Law suggests not in Norway. The Scandinavian Journal of Economics, 109, 177-195.
- Poole, R., Ptacek, F., & Verbrugge, R. (2005) Treatment of owner-occupied housing in the CPI. Washington, DC: Bureau of Labor Statistics.
- Wang, Dong 王东 (2008). Woguo jumin xiaofei jiage zhishu yu tixi zhong juzhulei zhishu piancha xianxiang de tantao. 我国居民消费价格指数与体系中居住类指数偏差现象的探讨. World Economic Outlook, 2, 54-59. (in Chinese)
- Wang, Junping 王军平 (2006). Zhufang xiaofei zai CPI zhong de qiuanzhong jixu tigao住房消费在CPI中的权重亟需提高. Price Theory and Practice, 2, 33-35. (in Chinese)
- Xu, Qiyuan 徐奇渊 (2010). Zhishu bianzhi: hai xuyao zuo naxie gaijin? 指数编制: 还需要做哪些改进? http://www.chinavalue.net/Blog/524616.aspx