Estimation of the True Cost of Living Index of food consumption for Chinese urban consumers

被引：0

作者：

Fan, Zhiyong ^{[1
]}

Song, Jiayin ^{[2
]}

机构：

[1] Renmin Univ China, Sch Econ, Beijing, Peoples R China

[2] Univ Int Business & Econ, Sch Int Studies, Beijing, Peoples R China

来源：

ECONOMIC AND POLITICAL STUDIES-EPS | 2018年 / 6卷 / 04期

关键词：

Consumer Price Index; preference variation bias; Konus cost of living index; substitution bias;

D O I：

10.1080/20954816.2018.1540286

中图分类号：

C [社会科学总论];

学科分类号：

03 ; 0303 ;

摘要：

This paper studies the True Cost of Living Index (TCLI) of food consumption for all income groups of urban households in China from 1997 to 2012. Based on the Generalised Fechner-Thurstone direct utility function, this paper estimates the TCLI under variable preference assumptions, and also decomposes the total bias of the traditional Laspeyres Price Index (LPI) estimation of TCLI into substitution bias and preference variation bias. For all income group households, the estimated preference variation bias is found to be quite substantial. According to the finding, when it is necessary to apply the cost of living adjustment clause in any public welfare programmes, the TCLI calculation compatible with preference variation may be more appropriate than the usual Laspeyres Consumer Price Index estimation.

引用

页码：417 / 430

页数：14