Do the Consumer Price Index's Utilities Adjustments for Owners’ Equivalent Rent Distort Inflation Measurement?
CPI 自有住房等价租金的公用事业费用调整会扭曲通胀测度吗?
The Consumer Price Index (CPI) is an important social index number, central to monetary policy, well being measurement, optimal pricing, and tax and contract escalation. Shelter costs have a large weight in the CPI, so their movements receive much attention. The CPI incorporates two shelter indexes: Rent, covering renters, and Owners’ Equivalent Rent (OER), covering owners. Between 1999 and 2006, Rent and OER inflation twice diverged markedly; this occurred again recently.…