Recent estimates of CPI bias? The Dec 1996 Boskin report (May 1997 AER summary)


  concluded that the change in the Consumer Price Index (CPI) overstates the change in the cost of living by about 1.1 percentage points per year (the range of plausible values is 0.8-1.6 percentage points) (1997, p. 78).


Breakdown (1997, p. 80):



My question: What, if any, are some more recent and similarly-"authoritative" estimates of CPI bias?
Redding and Weinstein in their paper "A Unified Approach to Estimating Demand and Welfare" develop a unified price index that nests all existing major price indexes. Existing price indexes can be thought of as arising from the imposition of parameter restrictions on their unified index. 

Their examination with barcode data suggests that standard methods of measuring welfare overstate cost of living increases by ignoring new products and demand shifts. However, contrary to the Boskin report, they do not put an overall number on the bias.