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THE CHALLENGES TO ECONOMIC MEASUREMENT ARISING FROM INFLATION IN THE POST-PANDEMIC WORLD

Huw David Dixon

National Institute Economic Review2025https://doi.org/10.1017/nie.2024.26article
AJG 1ABDC B
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0.50

What the paper says

Abstract The pandemic caused expenditure shares to vary more than usual, leading to serious ramifications when combined with the fact that the expenditure shares used to calculate CPI inflation are 1-2 years old. This caused a potential bias in the measurement of inflation. We also look at the cost-of-living crisis and found that the lags in updating the expenditure shares for energy and food led to an underestimate of inflation in 2022. Inflation also has a large effect on the measurement of the public sector deficit. With a high debt-GDP ratio and high inflation, there was a substantial inflation tax.

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https://doi.org/https://doi.org/10.1017/nie.2024.26

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@article{huw2025,
  title        = {{THE CHALLENGES TO ECONOMIC MEASUREMENT ARISING FROM INFLATION IN THE POST-PANDEMIC WORLD}},
  author       = {Huw David Dixon},
  journal      = {National Institute Economic Review},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1017/nie.2024.26},
}

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THE CHALLENGES TO ECONOMIC MEASUREMENT ARISING FROM INFLATION IN THE POST-PANDEMIC WORLD

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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