TY - BOOK ID - 84541273 TI - The Plutocratic Bias in the CPI : Evidence from Spain AU - Ruiz Castillo, Javier. AU - Izquierdo, Mario. AU - Ley, Eduardo. PY - 2000 SN - 1462343813 1451989415 1282100874 1451903421 9786613799456 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Inflation KW - Macroeconomics KW - Public Finance KW - Index Numbers and Aggregation KW - leading indicators KW - Personal Income, Wealth, and Their Distributions KW - Equity, Justice, Inequality, and Other Normative Criteria and Measurement KW - Price Level KW - Deflation KW - Urban, Rural, and Regional Economics: Household Analysis: General KW - National Government Expenditures and Related Policies: General KW - Public finance & taxation KW - Consumer price indexes KW - Price indexes KW - Household consumption KW - Total expenditures KW - Prices KW - National accounts KW - Expenditure KW - Consumption KW - Economics KW - Expenditures, Public KW - United States KW - Leading indicators UR - https://www.unicat.be/uniCat?func=search&query=sysid:84541273 AB - We define the plutocratic bias as the difference between inflation measured according to the current official CPI and a democratic index in which all households receive the same weight. We estimate that during the 1990s the plutocratic bias in Spain amounts to 0.055 percent per year. However, positive and negative biases cancel off when averaging over the whole period. The mean absolute bias is significantly larger, 0.090. We can explain most of the oscillations experimented by the plutocratic bias by the price behavior of three goods: a luxury good and two necessities. ER -