Explaining the 30-Year Shift in Consumer Expenditures from Commodities to Services, 1982-2012 PDF Download
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Author: U.S. Bureau of Labor Statistics
Publisher: CreateSpace
ISBN: 9781499386677
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
The last 30 years have seen a shift in the allocation of U.S. consumer expenditures from commodities to services. This article uses Consumer Expenditure Survey (CE) data and Consumer Price Index (CPI) "relative importance" and index data (1) to show that the shift has been driven by changes not only in price but also in quantity and (2) to identify the particular categories of services driving the overall shift to services consumption. Focusing on absolute changes in per-household expenditures during the period 1984-2011, the article finds a 9.1-percent increase in the quantity of services and no change in the quantity of commodities. This trend has been driven largely by a considerable increase in owneroccupied shelter. The article also finds that the quantity of health care services has decreased, although the share of personal consumption expenditures (PCE) accounted for by health care services, as measured from 1959 to 2009 by the U.S. Bureau of Economic Analysis (BEA), has increased. This difference illustrates that PCE data account for third-party expenditures, while CPI and CE data do not. Within commodities, the quantity of durable goods has increased, while the quantity of nondurables has decreased.
Author: U.S. Bureau of Labor Statistics
Publisher: CreateSpace
ISBN: 9781499386677
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
The last 30 years have seen a shift in the allocation of U.S. consumer expenditures from commodities to services. This article uses Consumer Expenditure Survey (CE) data and Consumer Price Index (CPI) "relative importance" and index data (1) to show that the shift has been driven by changes not only in price but also in quantity and (2) to identify the particular categories of services driving the overall shift to services consumption. Focusing on absolute changes in per-household expenditures during the period 1984-2011, the article finds a 9.1-percent increase in the quantity of services and no change in the quantity of commodities. This trend has been driven largely by a considerable increase in owneroccupied shelter. The article also finds that the quantity of health care services has decreased, although the share of personal consumption expenditures (PCE) accounted for by health care services, as measured from 1959 to 2009 by the U.S. Bureau of Economic Analysis (BEA), has increased. This difference illustrates that PCE data account for third-party expenditures, while CPI and CE data do not. Within commodities, the quantity of durable goods has increased, while the quantity of nondurables has decreased.
Author: Robert B. Archibald
Publisher: Oxford University Press
ISBN: 0190251913
Category : Business & Economics
Languages : en
Pages : 297
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Book Description
"Current commentary about the US higher education system is steeped in crisis rhetoric of impending doom. High costs, exploding debt, and a digital tsunami supposedly will combine to disrupt and sweep away many of the nation's higher education institutions, or change them beyond recognition. In this book we evaluate the threats - real and perceived - that American colleges and universities must confront over the next thirty years. Those threats include rising costs endemic to personal services like higher education, growing income inequality in the US that affects how much families can pay, demographic changes that will affect demand, and labor market changes that could affect the value of a degree. We also evaluate changing patterns of state and federal support for higher education, and the new digital technologies rippling through the entire economy. Although we see great challenges ahead for America's complex mix of colleges and universities, our analysis is an antidote to the language of crisis that dominates contemporary public discourse. The bundle of services that four-year colleges and universities provide likely will retain its value for the traditional age range of college students. The division between in-person education for most younger students and online coursework for older and returning students appears quite stable. Apocalyptic tellings often have a happy ending as an online future makes higher education both better and cheaper. We are less pessimistic about the present, but more worried about the future. The diverse American system of four-year institutions is resilient and adaptable. But the threats we identify will weigh most heavily on the schools that disproportionately serve America's most at-risk students"--
Author: American Bar Association. House of Delegates
Publisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
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Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Author: Brian Graf
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781484354841
Category : Business & Economics
Languages : en
Pages : 509
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Book Description
The Consumer Price Index Manual: Concepts and Methods contains comprehensive information and explanations on compiling a consumer price index (CPI). The Manual provides an overview of the methods and practices national statistical offices (NSOs) should consider when making decisions on how to deal with the various problems in the compilation of a CPI. The chapters cover many topics. They elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. The primary purpose of the Manual is to assist countries in producing CPIs that reflect internationally recommended methods and practices.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309265789
Category : Political Science
Languages : en
Pages : 217
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Book Description
The Consumer Expenditure (CE) surveys are the only source of information on the complete range of consumers' expenditures and incomes in the United States, as well as the characteristics of those consumers. The CE consists of two separate surveys: (1) a national sample of households interviewed five times at three-month intervals; and (2) a separate national sample of households that complete two consecutive one-week expenditure diaries. For more than 40 years, these surveys, the responsibility of the Bureau of Labor Statistics (BLS), have been the principal source of knowledge about changing patterns of consumer spending in the U.S. population. In February 2009, BLS initiated the Gemini Project, the aim of which is to redesign the CE surveys to improve data quality through a verifiable reduction in measurement error with a particular focus on underreporting. The Gemini Project initiated a series of information-gathering meetings, conference sessions, forums, and workshops to identify appropriate strategies for improving CE data quality. As part of this effort, BLS requested the National Research Council's Committee on National Statistics (CNSTAT) to convene an expert panel to build on the Gemini Project by conducting further investigations and proposing redesign options for the CE surveys. The charge to the Panel on Redesigning the BLS Consumer Expenditure Surveys includes reviewing the output of a Gemini-convened data user needs forum and methods workshop and convening its own household survey producers workshop to obtain further input. In addition, the panel was tasked to commission options from contractors for consideration in recommending possible redesigns. The panel was further asked by BLS to create potential redesigns that would put a greater emphasis on proactive data collection to improve the measurement of consumer expenditures. Measuring What We Spend summarizes the deliberations and activities of the panel, discusses the conclusions about the uses of the CE surveys and why a redesign is needed, as well as recommendations for the future.
Author: Laurent Ferrara
Publisher: Springer
ISBN: 3319790757
Category : Business & Economics
Languages : en
Pages : 298
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Book Description
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Author: Steve Martinez
Publisher: DIANE Publishing
ISBN: 1437933629
Category : Social Science
Languages : en
Pages : 87
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Book Description
This comprehensive overview of local food systems explores alternative definitions of local food, estimates market size and reach, describes the characteristics of local consumers and producers, and examines early indications of the economic and health impacts of local food systems. Defining ¿local¿ based on marketing arrangements, such as farmers selling directly to consumers at regional farmers¿ markets or to schools, is well recognized. Statistics suggest that local food markets account for a small, but growing, share of U.S. agricultural production. For smaller farms, direct marketing to consumers accounts for a higher percentage of their sales than for larger farms. Charts and tables.
Author: McMillan, Margaret
Publisher: Intl Food Policy Res Inst
ISBN: 0896292142
Category : Political Science
Languages : en
Pages : 328
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Book Description
Author: Board of Governors of the Federal Reserve System
Publisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
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Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author: International Labour Office
Publisher: International Labour Organization
ISBN: 9789221136996
Category : Business & Economics
Languages : en
Pages : 578
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Book Description
The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.
