Tom Crossley taught a course on index number theory and got me fascinated with the subject. This post essentially summarizes how 2 price indices provide bounds to a cost of living index (COLI). Suppose you have …

Continue readingTom Crossley taught a course on index number theory and got me fascinated with the subject. This post essentially summarizes how 2 price indices provide bounds to a cost of living index (COLI). Suppose you have …

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