Search this site
by Faculty Name
by Publication Type
by Academic Area
HKS Faculty Research
FRC User's Guide
Submit New & Edit Current Publication Citations
Browse Academic Area
Academic Area Results
Jeffrey A. Frankel
James W. Harpel Professor of Capital Formation and Growth
HKS Faculty Research Working Paper Series
Frankel, Jeffrey A., and Ayako Saiki. "Does It Matter If Statistical Agencies Frame the Month’s CPI Report on a 1-Month or 12-Month Basis?" HKS Faculty Research Working Paper Series RWP16-011, March 2016.
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 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 chooses.
Copyright © 2017 The President and Fellows of Harvard College