A State Price Index

9 Pages Posted: 9 Jul 2000

See all articles by Victor R. Fuchs

Victor R. Fuchs

National Bureau of Economic Research (NBER)

Robert T. Michael

University of Chicago; National Bureau of Economic Research (NBER)

Sharon R. Scott

National Bureau of Economic Research (NBER)

Date Written: February 1979

Abstract

No cross-sectional consumer price index is currently available by state, and the BLS's cross-sectional "family budget" index for metropolitan areas is not well-suited for cross-state analyses. In this paper we propose an algorithm for constructing a state-specific Laspeyres price index using conveniently available information from the Census of Business and the Survey of Current Business. The index is calculated for each state (and for Census divisions and regions) for 1967 and 1972. Its characteristics are discussed, and it is used to deflate nominal per capita income by state. Comparing "real" income by state with nominal income by state, the former has substantially less variation cross-sectionally but greater variation over time (between 1967 and 1972).

Suggested Citation

Fuchs, Victor R. and Michael, Robert T. and Scott, Sharon R., A State Price Index (February 1979). NBER Working Paper No. w0320. Available at SSRN: https://ssrn.com/abstract=227039

Victor R. Fuchs (Contact Author)

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Robert T. Michael

University of Chicago ( email )

1101 East 58th Street
Chicago, IL 60637
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Sharon R. Scott

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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