Does it Matter If Statistical Agencies Frame the Month's CPI Reporton a 1-Month or 12-Month Basis?
24 Pages Posted: 6 Sep 2017 Last revised: 29 May 2022
Date Written: August 2017
Abstract
When the US Bureau of Labor Statistics releases new numbers, in theory it should make no difference whether the press release emphasizes the most recent 1-month number, which is what it always does, or the 12-month number, as many other countries’ statistical agencies do. This paper offers the hypothesis that it does matter: Markets react to CPI inflation news via whichever framing the agency has adopted.
Suggested Citation: Suggested Citation
Frankel, Jeffrey A. and Saiki, Ayako, Does it Matter If Statistical Agencies Frame the Month's CPI Reporton a 1-Month or 12-Month Basis? (August 2017). NBER Working Paper No. w23754, Available at SSRN: https://ssrn.com/abstract=3031725
Do you have negative results from your research you’d like to share?
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.