IMF Working Papers

Price Measurement and Mismeasurement in Central Asia

By Vincent Koen

August 1, 1995

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Format: Chicago

Vincent Koen. Price Measurement and Mismeasurement in Central Asia, (USA: International Monetary Fund, 1995) accessed November 21, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Consumer price indexes, Consumption, Income, Inflation, National accounts, Price indexes, Prices

Keywords: Appropriate consumer price indices, Base period, Central Asia, Computed price indices, Consumer price indexes, Consumption, CPI basket, CPI display, Expenditure pattern, Hybrid CPIs, Income, Inflation, Liberalization proceeds, Price collector, Price decontrol measure, Price index, Price indexes, Price level dispersion, Purchasing power, Recovery ratio, Revised RPI, Unit price, WP

Publication Details

  • Pages:

    30

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 1995/082

  • Stock No:

    WPIEA0821995

  • ISBN:

    9781451850406

  • ISSN:

    1018-5941

Notes

Prepared for a conference on "Poverty and Social Security in Central Asia" organized by the European University Institute, in Florence, on September 22-23, 1995, and to be published in Household Welfare in Central Asia.

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