If you measure wages in desk calculators instead of dollars, I'm sure
they've gone up substantially! ;-)
--Robert
And if you measure wages in units of a real-estate price index, they have
gone down substantially!
Fred Foldvary
=
[EMAIL PROTECTED]
Really? Every undergraduate class I can remember listed the failure to
adjust for quality as one of the main problems with the CPI. And I
don't think they just said it was inadequate.
William Dickens wrote:
This is completely wrong. The CPI-u is, and the CPI-x was, adjusted
for
quality changes
Not my class! I remember laboring for a while under the misimpression that hedonic
methods were used for autos (they aren't), but when you took Econ 1 from me I
certainly never said the CPI wasn't adjusted for quality.
And yes, you can go the BLS web links that I had in my original post and
As the listmember who probably has the dampest ink on his econ B.A., I can verify that that's what's being taught in our universities.
-JP[EMAIL PROTECTED] wrote:
In a message dated 12/4/03 3:07:31 PM, [EMAIL PROTECTED] writes:I think you are remembering your undergraduate education incorrectly
David Levenstam wrote:
Yes, the BLS series uses CPI-u to deflate the nominal wage series.
Since
CPI-u doesn't account for changes in the quality of goods or the
market basket,
and overstates inflation more the higher the actual rate of inflation,
for the
inflationary period from roughly 1968-1983
This is completely wrong. The CPI-u is, and the CPI-x was, adjusted
for
quality changes (see http://www.bls.gov/cpi/home.htm ). The CPI-X
doesn't exist anymore.
So what price statistic wasn't adjusted for quality changes?
They all are. No one (who knew what he was talking about) has ever
In a message dated 12/3/03 1:53:31 PM, [EMAIL PROTECTED] writes:
This is completely wrong. The CPI-u is, and the CPI-x was, adjusted
for
quality changes (see http://www.bls.gov/cpi/home.htm ). The CPI-X
doesn't exist anymore.
So what price statistic wasn't adjusted for quality changes?
They
I'm sorry to bother you with this. I just looked up
the time series for total private average hourly
earnings, seasonally adjusted, in 1982 dollars on the
BLS web site. It comes back that they've been
more-or-less constant since 1964.
I'm floored. Is this right, or am I doing something
wrong.
I'm sorry to bother you with this. I just looked up
the time series for total private average hourly
earnings, seasonally adjusted, in 1982 dollars on the
BLS web site. It comes back that they've been
more-or-less constant since 1964.
I'm floored. Is this right, or am I doing something
In a message dated 12/2/03 11:48:08 AM, [EMAIL PROTECTED] writes:
If you measure wages in desk calculators instead of dollars, I'm sure
they've gone up substantially! ;-)
--Robert
Yes, the BLS series uses CPI-u to deflate the nominal wage series. Since
CPI-u doesn't account for changes in
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