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Office of Survey Methods Research
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Published Year: 1999
Survey/Program(s): Office of Prices and Living Conditions
Catalog: Economic Working Paper
WP Number: WP-324
Publication Status / Disposition: Available from the Office of Prices and Living Conditions (August 1999).
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Small Sample Bias in Geometric Mean Seasoned CPI Component Indexes
Abstract
In this analysis we compare the finite sample bias (aka small sample bias) of the geometric means index and the 'seasoned modified Laspeyres index ' (hereafter referred to as the seasoned index.) Our tentative conclusion is that the geometric means index has a larger, growing rate of small sample bias while the seasoned index has a smaller, fluctuating bias.