The behavior of the Consumer Price Index : 1913 to 2003

dc.contributor.authorHamid, Shaikh A.
dc.contributor.authorDhakar, Tej S.
dc.date.accessioned2011-01-27T16:02:18Z
dc.date.available2011-01-27T16:02:18Z
dc.date.issued2005
dc.descriptionAuthor's Original
dc.description.abstractThis paper analyzes the seasonality in the monthly consumer price index (CPI) over the period January 1913 to December 2003. We examine three types of month effects: if the mean of monthly CPI changes of the entire data set, and of a given month were significantly different from zero; if the mean of monthly CPI changes of a given month was different from the mean of the other months; and if the variance of the monthly CPI changes for a given month was different from the variance of the other months. The mean of monthly CPI changes for the entire data set (0.27%) was found to be significantly greater than zero. The means of monthly changes show a downward trend from September to December. When the data are sliced into three sub-periods, we find an increasing trend in the means and medians of monthly changes but a decreasing trend in the standard deviations of the monthly changes. The mean of monthly CPI changes during the Republican presidencies (0.15%) was significantly lower than during the Democratic presidencies (0.38%). A revised version of this paper has since been published in the journal Applied Economics. Please use this version in your citations.en_US
dc.description.bibliographicCitationHamid, S. A. & Dhakar, T. S. (2008). The behavior of the US consumer price index 1913–2003: a study of seasonality in the monthly US CPI. Applied Economics, 40(13), 1637-1650en_US
dc.digSpecsPDF/A-1ben_US
dc.format.extent440365 bytesen_US
dc.format.mediaTypeapplication/pdfen_US
dc.identifier.urihttps://hdl.handle.net/10474/1680
dc.language.isoen_USen_US
dc.publisherSouthern New Hampshire Universityen_US
dc.relation.hasversiondoi: 10.1080/00036840600905159en_US
dc.relation.requiresAdobe Acrobat Readeren_US
dc.rightsRoutledge (Taylor & Francis Group) retain all ownership rights. Further reproduction in violation of copyright is prohibiteden_US
dc.rightsHolderRoutledge (Taylor & Francis Group)
dc.subject.otherinflation
dc.subject.otherconsumer price index
dc.subject.otherelectoral process
dc.subject.otherseasonality
dc.titleThe behavior of the Consumer Price Index : 1913 to 2003en_US
dc.typeWorking Paperen_US
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