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An Estimate of Consumer Price Index of Colonial Korea: 1907-1939 (in Korean)

Author

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  • Ki-Joo Park

    (Department of Economics, Sungshin Woman's University)

  • Nak Nyeon Kim

    (Department of Economics, Dongguk University)

Abstract

We estimate consumer price indexes of eight major cities from 1907 to 1939, and then integrate them into a national level one. The data mainly came from the Statistical Yearbooks of the Government-General of Colonial Korea, and if necessary, we supplement them using wages and unit prices of public utility charges which are used as the price of housing and various services. We apply Laspeyres index method, and the composition ratios of consumption expenditure estimated by the commodity flow method are used as weights. The price indexes of 12 item groups as well as aggregate one are also calculated. In case of Seoul, it is possible to calculate the consumer price index from 1907 to 2009, showing a century-long pattern. This consumer price index is critical for measuring the real income and expenditure before the liberation.

Suggested Citation

  • Ki-Joo Park & Nak Nyeon Kim, 2011. "An Estimate of Consumer Price Index of Colonial Korea: 1907-1939 (in Korean)," Economic Analysis (Quarterly), Economic Research Institute, Bank of Korea, vol. 17(1), pages 131-168, March.
    • Handle: RePEc:bok:journl:v:17:y:2011:i:1:p:131-168
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    More about this item

    Keywords

    Consumer price index; Long-term index; Weights; Colonial Korea; Liberation; Seoul; Commodity flow method;
    All these keywords.

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

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