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A CONSUMER PRICE INDEX FOR SWEDEN, 1290–2008
Author(s) -
EDVINSSON RODNEY,
SöDERBERG JOHAN
Publication year - 2011
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.2010.00381.x
Subject(s) - currency , economics , inflation (cosmology) , price index , index (typography) , unit (ring theory) , unit of account , consumer price index (south africa) , measure (data warehouse) , producer price index , wholesale price index , relative price , econometrics , unit price , macroeconomics , exchange rate , monetary economics , price level , monetary policy , computer science , mid price , mathematics , physics , mathematics education , database , theoretical physics , world wide web
This paper presents a Consumer Price Index for Sweden 1290–2008. Constructing an index that covers more than seven centuries poses conceptual and empirical problems, and demands some methodological innovations. For example, during numerous occasions the currency unit was changed, and in some periods multiple currencies were used at floating exchange rates relative to each other. This paper also presents two different price indices, one that mainly serves the purposes of estimating real prices and real wages, and another that provides a measure of inflation. While the former follows the main currency unit, the latter also takes into account that debased coins were devalued during recoinage.