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Using food prices and consumption to examine Chinese cost of living

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  • Jonathan A. Cook
  • Fred Gale

Abstract

This paper considers two approaches to examining potential bias in China's consumer price index: (i) inferring true changes in cost of living from consumer behaviour; and (ii) creating alternative price indices to compare with official indices. For (i), our semi‐parametric estimates agree with the recent finding of a large understatement in increases to the true cost of living. For (ii), we focus on food prices and explore potential causes of bias. We find some evidence of a new‐good bias. China's large‐scale migration also causes changes in the cost of living that are not reflected in the consumer price index.

Suggested Citation

  • Jonathan A. Cook & Fred Gale, 2019. "Using food prices and consumption to examine Chinese cost of living," Pacific Economic Review, Wiley Blackwell, vol. 24(1), pages 3-26, February.
    • Handle: RePEc:bla:pacecr:v:24:y:2019:i:1:p:3-26
    DOI: 10.1111/1468-0106.12282
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    Cited by:

    1. Jonathan A. Cook & Saad Siddiqui, 2020. "Random forests and selected samples," Bulletin of Economic Research, Wiley Blackwell, vol. 72(3), pages 272-287, July.

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