Research Catalog
American living standards, 1888-1994 : evidence from consumer expenditures / Dora L. Costa.
- Title
- American living standards, 1888-1994 : evidence from consumer expenditures / Dora L. Costa.
- Author
- Costa, Dora L.
- Publication
- Cambridge, MA : National Bureau of Economic Research, c2000.
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| Status | Format | Access | Call Number | Item Location |
|---|---|---|---|---|
| Text | Request in advance | HB1 .W654 no. 7650 | Off-site |
Holdings
Details
- Additional Authors
- National Bureau of Economic Research
- Description
- 29 p. : ill.; 22 cm.
- Summary
- I use micro data on food and recreation expenditures from 1888 to 1994 to provide the first estimates of overall CPI bias prior to the 1970s and new estimates of bias since the 1970s and to reassess long-run growth rates. I find that CPI bias was -0.1 percentage points per year between 1888 and 1919 and rose to 0.7 percentage points per year between 1919 and 1935. CPI bias was low in the 1950s and 0.3 percentage points per year in the 1960s and then rose to 2.7 percentage points per year between 1973 and 1982 before falling to 0.6 percentage points per year between 1983 and 1994. Inadequately accounting for the introduction of new consumer goods probably was the biggest source of bias between 1919 and 1935. Revised growth rates suggest that despite the Great Depression real per capita personal income was not falling but was rising by 0.5 percentage points per year between 1919 and 1935 and that growth rates were not stagnant in the 1970s but were almost as high as in the 1960s (4.0 and 3.2 in the 1960s and 1970s, respectively).
- Series Statement
- NBER working paper series ; working paper 7650
- Uniform Title
- Working paper series (National Bureau of Economic Research) working paper no. 7650.
- Subject
- 1900-1999
- Cost and standard of living > United States > History > 20th century
- Consumer price indexes > United States > History > 20th century
- Consumer behavior > United States > History > 20th century
- Cost and standard of living > United States > Econometric models
- Consumer price indexes > United States > Econometric models
- Consumer behavior > United States > Econometric models
- Genre/Form
- History
- Note
- "April 2000."
- Bibliography (note)
- Includes bibliographical references (p. 28-29).
- Additional Formats (note)
- Also available in PDF from the NBER world wide web site (www.nber.org).
- Processing Action (note)
- committed to retain
- OCLC
- 43907205
- SCSB-10918205
- Owning Institutions
- Harvard Library