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Activity Number: 488
Type: Contributed
Date/Time: Wednesday, August 12, 2015 : 8:30 AM to 10:20 AM
Sponsor: Government Statistics Section
Abstract #315626 View Presentation
Title: The Effect of CE Sample Sizes on CPI Standard Errors
Author(s): Jenny FitzGerald*
Companies: Bureau of Labor Statistics
Keywords: Multistage Sample Design ; Simulation Study ; Sample Size Variability ; Variance Estimation ; Stratified Random Groups Methodology
Abstract:

The Consumer Price Index (CPI) estimates the change in prices over time of the goods and services U.S. consumers buy for day-to-day living based on price quotes selected from probability samples and aggregation weights derived from the Consumer Expenditure (CE) Survey. Recently, there has been speculation about the percentage of the CPI-U standard error that is due to the variability of its cost weights. Cost weights are the building blocks of the CPI that are simply the product of CPI indexes and CE aggregation weights. In this study, we draw simulated samples of CE reports to produce simulated cost weights; we then use the simulated cost weights to find a functional form of how the CPI-U all U.S. - all items standard error changes as CE sample sizes change using stratified random groups (SRG) variance methodology.


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