Housing Costs In the CPI: What Are We Measuring?

The treatment of owner-occupied housing in the Consumer Price Index has long been a subject of confusion and consternation. Thus, a session to explore the issues was organized at the National Association for Business Economics Annual Meeting in Chicago on September 26, 2005 The following three papers were presented at that session.

Is It Time to Change the Method?

By Joseph G. Carson

Joseph G. Carson is a U.S. Economist and Director of Global Economic Research, Alliance Capital Fixed Income.

The Rationale for How BLS Measures Shelter Services in the CPI

By David S. Johnson

David Johnson is the Assistant Commissioner of Consumer Prices and Price Indexes, U.S. Bureau of Labor Statistics

Owners’ Equivalent Rent and the Cost of Living

By Charles Steindel

Charles Steindel is a Senior Vice President, Federal Reserve Bank of New York.

Read the article: PDF | HTML