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Geographic Variation in Consumer Prices: Implications for Local Price Indices
Author(s) -
WALDEN MICHAEL L.
Publication year - 1998
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.1998.tb00407.x
Subject(s) - capitalization , variation (astronomy) , geographic variation , economics , econometrics , work (physics) , consumer price index (south africa) , macroeconomics , monetary policy , demography , population , mechanical engineering , philosophy , linguistics , physics , sociology , astrophysics , engineering
Previous research has established that considerable variation exists in consumer prices both between states and within states. This paper extends that research by specifying and implementing a procedure for estimating price indices in localities within one state, North Carolina. The paper makes a number of improvements over previous work, including examining geographic variation in the prices of individual products and services, estimating the association between local prices and national prices, and testing the potential capitalization of local taxes and public output into local prices.