Changes in Relative Consumer Prices and the Substitution Bias of the Laspeyres Price Index - Ireland, 1985-2001

This paper shows that Irish relative consumer prices have changed significantly, 1985- 2001, at the ten commodity-group level. A “true” cost-of-living index is derived from Madden’s (1993) parameter estimates for an Almost Ideal Demand System. Despite relative price changes, the substitution bias of...

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Bibliographic details
Volume: 35
Main Author: Somerville, R. A
Format: Journal Article
Language: English
Place of publication: Economic and Social Studies 2004
published in: The Economic and Social Review Vol. 35; no. 1; pp. 55 - 82
Data of publication: 2004
Series: The Economic and Social Review
Online Access: available in Bonn?
Database: RePEc IDEAS
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