Inflation Measures: Too High - Too Low - Internationally Comparable? Paris, 21-22 June 2005

Venue:  21-22 June 2005, OECD Headquarters (Room 3), 2 rue André Pascal, 75016 Paris
List of hotels

Agenda (4th July 2005)

Tuesday, 21st June, 9h00

Opening and welcome
Enrico Giovannini OECD Chief Statistician 

A. Developments in CPI measurement since the Boskin Report

Session chair: OECD

1. Experiences in German Price Statistics with the Application of Hedonic Methods (PDF), Stefan Linz and Timm Behrmann (Federal Statistical Office of Germany)

Discussion to be led off by Jack Triplett (Brookings Institution)

2. The Boskin Report and Price Measurement in Australia (PDF), Keith Woolford (Australian Bureau of Statistics)

Discussion to be led off by Erwin Diewert (University of British Columbia)

3. What has happened to price measurement since the Boskin Report?: The U.S. Experience (PDF), David S. Johnson, Steve Reed, Ken Stewart (U.S. Bureau of Labor Statistics)

Discussion to be led off by: Johannes Hoffmann (Deutsche Bundesbank)

4.  Measurement Issues in the New Zealand Consumers Price Index (PDF), Michael Smedes (Statistics New Zealand)

Discussion to be led off by Joanne Moreau (Statistics Canada)

5.  Recent Methodological Developments of the CPI in Japan (PDF), Makoto Shimizu (Statistical Survey Department, Statistics Bureau, Ministry of Internal Affairs and Communications)

Discussion to be led off by David Fenwick (Office for National Statistics, UK)

Lunch break

6.  Superlative Swedish CPI Implementation and Comparability  (PDF), Martin Ribe (Statistics Sweden)

Discussion to be led off by Erwin Diewert (University of British Columbia)

7.  Quality Adjustment with and without Hedonic Regression  (PDF), Paul Haschka (Statistics Austria)

Discussion to be led off by Michael Smedes (Statistics New Zealand) 

B. Owner-occupied housing in the CPI

Session chair: Marc PrudHomme (Statistics Canada) 

8.  Treatment of Owner-occupied Housing in Australia - Concepts and Practices  (PDF), Keith Woolford (Australian Bureau of Statistics)

9.  Market prices and user cost  (PDF), Rósmundur Guðnason (Statistics Iceland)

10.

International Comparability of the Consumer Price Index: Owner-occupied Housing (PDF), Ane-Kathrine Christensen, Julien Dupont and Paul Schreyer (OECD Statistics Directorate)
Do house price developments matter for inflation-targetting monetary authorities? A view from the Euro area experience, Boris Cournède (OECD Economics Department)

Discussion to be led off by Jack Triplett (Brookings Institution)

Cocktail, 18h00

 

Wednesday 22 June, 9h00

C. How to preserve and establish credibility of the official CPI

Session chair: Paul Armknecht (IMF)

11.  Dispute Around Inflation since Euro Changeover in France  (PDF)
Dominique Guédès (INSEE)

12.  Is there a discrepancy between measured and perceived inflation in the euro area countries since the euro cash changeover?  (PDF), L. Aucremanne, M. Collin and E. Dhyne (Central Bank of Belgium)

13.  Introduction of the Euro and the Divergence between Officially Measured and Perceived Inflation: The Case of Italy  (PDF), Paolo del Giovane and Roberto Sabbatini (Banca d'Italia)

Discussion to be led off by Mark Wynne  (Federal Reserve Bank of Dallas)

14.  The HICP as an anchor for European consumer price statistics (PDF), Henning Ahnert and Mariagnese Branchi (European Central Bank, Directorate General Statistics)

15.  How the Finnish Consumer Price Index Survived the Euro change-over  (PDF), Timo Koskimäki (Statistics Finland)

16. Official CPI and users: recent developments in Istat strategy (PDF), A. Brunetti A., De Gregorio C., Monducci R., Nuccitelli A. and Polidoro F., Ricci R (ISTAT)

Lunch break

17. Enhancing the credibility of the Consumer Price Index (PDF)
Sabine Bechtold and Stefan Linz (Federal Statistical Office of Germany)

Discussion to be led off by  Enrico Giovannini (OECD) 

D. Panel discussion: the way forward - identifying the most important areas for future work at the international level

Session Chair: Enrico Giovannini (OECD Chief Statistician)

Identifying Important Areas for Future Price Work at the International Level (PDF), Erwin Diewert (University of British Columbia)

David Fenwick (Office for National Statistics, UK)
Johaness Hoffmann (Deutsche Bundesbank)
Mokoto Shimizu* (Statistics Bureau, Ministry of Internal Affairs and Communication, Japan)
Jack Triplett (Brookings Institution) 

Closure around 17H15

*Proposal by OECD and subject to confirmation by participants

Supplementary papers (not presented during the meeting)
Measuring Perceived Inflation: A Prospect Theory Approach  (PDF), Hans Wolfgang Brachinger (International Statistical Institute)

HICPs: An Update on some Current Issues (PDF)
Background Information related to Paper 14

Country Priorities (PDF)

Transmission of papers:
Participants are asked to transmit papers to the OECD Secretariat (Paul.Schreyer@OECD.org) not later than 6th June 2005.  Presentations (PPT) should also be transmitted in advance of the meeting.

Timing of presentations:
Given the sizeable number of papers in the seminar, presentations will have to be kept to a maximum of 20 minutes so as to allow for time for discussion.  While papers in Session A will be discussed individually, there will be a joint discussion of the three papers in Session B as they deal with a very similar issue. In Session C, a first group of papers relates to the discrepancy between perceived and measured inflation after the introduction of the Euro and a second group of papers relates to issues of communication with CPI users more generally. The papers in each group will be discussed jointly.

The role of discussants will be to kick-off the general discussion by way of a 5-minute intervention.

Session D is a panel discussion, designed to identify some areas for future CPI work, in particular at the international level. Each panellist will be asked to talk for 5-10 minutes.

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