cancel
Showing results for 
Show  only  | Search instead for 
Did you mean: 
Choose Language Hide Translation Bar
Measuring Consumer Substitution with JMP®

Consumer price index formulas inherently contain assumptions about how consumers change their consumption patterns in response to price change.  A measure of this change in consumption is referred to as elasticity of substitution.  In this poster presentation I use JMP® Fit Y by X to estimate the elasticity of substitution parameter, which is a component of the Constant Elasticity of Substitution consumer price index formula.  Additionally, I use the Local Data Filter > Check Box Display option to create multi-year pooled regressions.

Joshua Klick, Economist, Bureau of Labor Statistics

Discovery Summit 2014 Resources

Discovery Summit 2014 is over, but it's not too late to participate in the conversation!

Below, you'll find papers, posters and selected video clips from Discovery Summit 2014.