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Diane Publishing Books
Measuring Inflation in Public Libraries: A Comparison of Two Approaches, the Input Cost & the Cost of Services Index
Jay C. Chambers, Robert Vergun, & Adrienne Chute. Presents two approaches to measuring inflation faced by public libraries: an approach based on a fixed-market-basket of the prices of library inputs (i.e. prices of goods & services purchased by public libraries, including personnel), which yields a public libraries input cost index (PLICI); & an approach based on an econometric model of public libraries services & costs, which yields a public libraries cost of services index (PLCSI). The PLICI represents essentially a weighted average of the series of public libraries input prices, while the PLCSI places emphasis on the cost of producing public libraries services. This report presents estimates of public libraries inflation derived from each approach & compares advantages & disadvantages.
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