01716cas a2200265 a 4500 AALejournalIMF007821 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858174 1018-5941 BD-DhAAL BD-DhAAL Ruiz Castillo, Javier. The Plutocratic Bias in the CPI : Evidence from Spain / Javier Ruiz Castillo, Eduardo Ley, Mario Izquierdo. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We define the plutocratic bias as the difference between inflation measured according to the current official CPI and a democratic index in which all households receive the same weight. We estimate that during the 1990s the plutocratic bias in Spain amounts to 0.055 percent per year. However, positive and negative biases cancel off when averaging over the whole period. The mean absolute bias is significantly larger, 0.090. We can explain most of the oscillations experimented by the plutocratic bias by the price behavior of three goods: a luxury good and two necessities. Mode of access: Internet Izquierdo, Mario. Ley, Eduardo. IMF Working Papers; Working Paper ; No. 2000/167 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/167/001.2000.issue-167-en.xml IMF e-Library