The European Employment Price Index: Implementation and Feasibility in Austria
DOI:
https://doi.org/10.17713/ajs.v27i3.538Abstract
The study, on which this paper is based upon, has analyzed the implementation and feasibility of the European Employment Price Index (EEPI) in Austria. The European Employment Price Index is a Laspeyres measure of the change in the demand-transaction price of the standardized unit of labor. We find that it is feasible to construct the index with the available company data with an approximate lag length of five month. Most data were easily accessible within firms, with the exception of severance payments, company pensions, and hypothetical costs. Only 228 observations are required to obtain an aggregate EEPI for Austria within +/- one percentage point at the 95 % significance level, whilst some 4800 observations are necessary for disaggregate series, enormously increasing costs of provision.References
D.N. Gujarati. Basic Econometrics. Third Edition, New York: McGraw-Hill International Editions, 1995.
R. Hafner. Statistik für Sozial- und Wirtschaftswissenschafter. Wien: Springer, 1992.
B.R. Moulton. Bias in the Consumer Price Index: What is the Evidence? Journal of Economic Perspectives 10, 159 - 177, 1996.
Ch. Ragacs, H. Walther, M. Zagler. Monetary Policy, Cost-Push Inflation and the European Employment Price Index. Vienna: mimeo, 1998.
J. Triplett (ed.). The Measurement of Labor Costs. Chicago: Univ. of Chicago Press, 1983.
M. Zagler, H. Walther, A. Guger, U. Mühlberger, Ch. Ragacs. The European Employment Cost Index. Implementation and Feasibility Study for Austria. Vienna: Ludwig Boltzmann Institute for Growth Research, 1997.
Downloads
Published
How to Cite
Issue
Section
License
The Austrian Journal of Statistics publish open access articles under the terms of the Creative Commons Attribution (CC BY) License.
The Creative Commons Attribution License (CC-BY) allows users to copy, distribute and transmit an article, adapt the article and make commercial use of the article. The CC BY license permits commercial and non-commercial re-use of an open access article, as long as the author is properly attributed.
Copyright on any research article published by the Austrian Journal of Statistics is retained by the author(s). Authors grant the Austrian Journal of Statistics a license to publish the article and identify itself as the original publisher. Authors also grant any third party the right to use the article freely as long as its original authors, citation details and publisher are identified.
Manuscripts should be unpublished and not be under consideration for publication elsewhere. By submitting an article, the author(s) certify that the article is their original work, that they have the right to submit the article for publication, and that they can grant the above license.