Price Measurement and Mismeasurement in Central Asia

Author/Editor:

Vincent Koen

Publication Date:

August 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional Paasche retail price indices obsolete and called for the introduction of Laspeyres consumer price indices. While the latter represent a major improvement, several measurement or interpretation issues remain, reflecting various potential index number biases, dispersion of prices and inflation across geographical areas and social groups, discontinuities in the inflation process, residual shortages, and seasonality.

Series:

Working Paper No. 95/82

Subject:

Notes:

Prepared for a conference on "Poverty and Social Security in Central Asia" organized by the European University Institute, in Florence, on September 22-23, 1995, and to be published in Household Welfare in Central Asia.

English

Publication Date:

August 1, 1995

ISBN/ISSN:

9781451850406/1018-5941

Stock No:

WPIEA0821995

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

30

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