WEKO3
アイテム
Estimating Daily Inflation Using Scanner Data : A Progress Report
http://hdl.handle.net/2261/55670
http://hdl.handle.net/2261/55670e0c17f01-7b68-4885-91db-817784fbf4e2
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
wp037.pdf (1.3 MB)
|
|
| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2015-05-11 | |||||
| タイトル | ||||||
| タイトル | Estimating Daily Inflation Using Scanner Data : A Progress Report | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL Classification Number: E31; C43 | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | scanner data | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | consumer price index | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Törnqvist index | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | chain drift | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | trimmed means | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | regular and sale prices | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | deflation | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| 著者 |
Watanabe, Kota
× Watanabe, Kota× Watanabe, Tsutomu |
|||||
| 著者所属 | ||||||
| 著者所属 | Chuo University | |||||
| 著者所属 | ||||||
| 著者所属 | University of Tokyo | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | We construct a Törnqvist daily price index using Japanese point of sale (POS) scanner data spanning from 1988 to 2013. We find the following. First, the POS based inflation rate tends to be about 0.5 percentage points lower than the CPI inflation rate, although the difference between the two varies over time. Second, the difference between the two measures is greatest from 1992 to 1994, when, following the burst of bubble economy in 1991, the POS inflation rate drops rapidly and turns negative in June 1992, while the CPI inflation rate remains positive until summer 1994. Third, the standard deviation of daily POS inflation is 1.1 percent compared to a standard deviation for the monthly change in the CPI of 0.2 percent, indicating that daily POS inflation is much more volatile, mainly due to frequent switching between regular and sale prices. We show that the volatility in daily inflation can be reduced by more than 2daily inflation rate 0 percent by trimming the tails of product-level price change distributions. Finally, if we measure price changes from one day to the next and construct a chained Törnqvist index, a strong chain drift arises so that the chained price index falls to 10^-10 of the base value over the 25-year sample period, which is equivalent to an annual deflation rate of 60 percent. We provide evidence suggesting that one source of the chain drift is fluctuations in sales quantity before, during, and after a sale period. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 2012～2016年度科学研究費補助金[基盤研究(S)]「長期デフレの解明」(研究代表者 東京大学経済学研究科・渡辺努, 課題番号：24223003) | |||||
| 書誌情報 |
JSPS Grants-in-Aid for Scientific Research (S) Understanding Persistent Deflation in Japan Working Paper Series 巻 037, 発行日 2014-02 |
|||||
| 出版者 | ||||||
| 出版者 | UTokyo Price Project | |||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.price.e.u-tokyo.ac.jp/researchdata/ | |||||
