Cover IMF Working Papers
Price Measurement and Mismeasurement in Central Asia
Author: Mr. Vincent Koen
Series:
IMF Working Papers
Volume/Issue:
Volume 1995: Issue 082
Language:
English
Publication Date:
01 Aug 1995
DOI:
https://doi.org/10.5089/9781451850406.001
ISBN:
9781451850406
ISSN:
1018-5941
Pages:
30
Keywords:
WP; price index; base period; purchasing power; unit price; hybrid CPIs; CPI basket; CPI display; computed price indices; price level dispersion; price decontrol measure; revised RPI; recovery ratio; appropriate consumer price indices; expenditure pattern; price collector; liberalization proceeds; Consumer price indexes; Inflation; Price indexes; Consumption; Income; Central Asia
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional Paasche retail price indices obsolete and called for the introduction of Laspeyres consumer price indices. While the latter represent a major improvement, several measurement or interpretation issues remain, reflecting various potential index number biases, dispersion of prices and inflation across geographical areas and social groups, discontinuities in the inflation process, residual shortages, and seasonality.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund