English, Article edition: The Plutocratic Gap in the CPI: Evidence from Spain Mario Izquierdo; Eduardo Ley; Javier Ruiz-Castillo

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Physical Description
  • article
Language
  • English

Edition details

Title
  • The Plutocratic Gap in the CPI: Evidence from Spain
Author
  • Mario Izquierdo
  • Eduardo Ley
  • Javier Ruiz-Castillo
Physical Description
  • article
Notes
  • RePEc:pal:imfstp:v:50:y:2003:i:1:p:7
  • The plutocratic gap is defined as the difference between the inflation measured according to the current official consumer price index (CPI) and a democratic index in which all households receive the same weight. During 1992-97, the plutocratic gap in Spain averaged 0.055 percentage points a year. Since positive and negative gaps cancel out, however, the average absolute gap is significantly larger: 0.090 percentage points a year. For the purposes of accounting for the plutocratic gap, a 53-dimensional commodity space can be conveniently reduced to two dimensions: a luxury index and a necessities index. Copyright 2003, International Monetary Fund
  • RePEc:imf:imfstp:v:50:y:2003:i:1:p:7
Language
  • English
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