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SURVEY-BASED ESTIMATES OF BIASES IN CONSUMER PRICE INDICES DURING TRANSITION: EVIDENCE FROM ROMANIA

By Randall K. Filer, Jan Hanousek and Jel Codes C

Abstract

Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Comparisons of self-reported changes in economic welfare with changes in incomes suggest that official Romanian inflation measures may be overstated by between 100 and 300 percent at a reported annual inflation rate of 40 per cent

Year: 2001
OAI identifier: oai:CiteSeerX.psu:10.1.1.196.3489
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