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Measuring regional cost of living

Author

Listed:
  • Jahyeong Koo
  • Keith R. Phillips
  • Fiona Sigalla

Abstract

Accurate measures of regional cost of living are vital to businesses and individuals. We compare a commonly used regional cost-of-living index, produced by the American Chamber of Commerce Research Association (ACCRA), to an index we calculate using Consumer Price Index data and research from Kokoski, Cardiff, and Moulton. We find significant differences between the ACCRA and the new indexes that are likely due to theoretical design, data collection, and sampling design. The comparison of these indexes highlights sources of differences in regional cost-of-living measures and suggests caution in the use of ACCRA indexes.
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Suggested Citation

  • Jahyeong Koo & Keith R. Phillips & Fiona Sigalla, 1997. "Measuring regional cost of living," Working Papers 9713, Federal Reserve Bank of Dallas.
    • Handle: RePEc:fip:feddwp:97-13
    Note: Published as: Koo, Jahyeong, Keith R. Phillips and Fiona Sigalla (2000), "Measuring Regional Cost of Living," Journal of Business & Economic Statistics 18 (1): 127-136.
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    Keywords

    Cost; standards of living;

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