Reduce Home Loan Rates

At present, home equity loans have evolved into a common practise that enable homeowners to obtain cash via their current home loan.

Among the benefits of this practise are that you can tap into your home’s equity and utilise the cash to consolidate debts, finance remodelling projects, support children’s tuition, buy a new car or that boat you have always wanted or even take your dream vacation.

Tapping into the equity built in your very own home is a wise choice which allows you to take advantage of lower interest rates. Furthermore, interest on both a home equity loan and line of credit may be tax deductible (do consult your tax advisor about your personal situation).

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Printer’s Print Engines

The challenge faced by any printer is how to get ink (or something that looks like ink but isn’t) onto paper—and keep it there. The actual mechanism that handles this job and forms an image on paper is called the print engine. Engineers have developed a number of technologies for print engines, and each uses a somewhat different physical principle to form an image on paper. Although each technology has its strengths, weaknesses, and idiosyncrasies, you might not be able to tell the difference between the pages they print. Careful attention to detail has pushed quality up to a level where the paper rather than the printer is the chief limit on resolution, and color comes close to photographic, falling short only on the depth that only a thick gelatin coating makes possible.

In making those images, however, the various print engine technologies work differently at different speeds, at different noise levels, and with different requirements. These differences can make one style of print engine a better choice for your particular application than the others.

Impact Dot-Matrix

Today’s computer printer evolved from a brash, noisy creation called the impact dot-matrix printer. Although only a few models persist on the market, impact printers once were the mainstay of the industry, and their method of forming characters, from a matrix of dots one line at a time, survives to this day in nearly all low-cost printers.

The heart of the dot-matrix printer is a mechanical printhead that shuttles back and forth across the width of the paper. A number of thin print wires act as the hammers that squeeze ink from a fabric or Mylar ribbon to paper. Once the mainstay of computer printing, the classic dot-matrix printer is now an endangered species. It remains noteworthy, however, as the progenitor of the computer printer.

In most impact dot-matrix printers, a seemingly complex but efficient mechanism controls each of the print wires. The print wire normally is held away from the ribbon and paper, and against the force of a spring, by a strong permanent magnet. The magnet is wrapped with a coil of wire that forms an electromagnet, wound so that its polarity is the opposite of that of the permanent magnet. To fire the print wire against the ribbon and paper, this electromagnet is energized (under computer control, of course), and its field neutralizes that of the permanent magnet. Without the force of the permanent magnet holding the print wire back, the spring forcefully jabs the print wire out against the ribbon, squeezing ink onto the paper. After the print wire makes its dot, the electromagnet is de-energized and the permanent magnet pulls the print wire back to its idle position, ready to fire again. Figure 26.1 shows a conceptual view of the mechanism associated with one printhead wire.

Computer

The two-magnets-and-spring approach is designed with one primary purpose—to hold the print wire away from the paper (and out of harm’s way) when no power is supplied to the printer and the printhead. The complexity is justified by the protection it affords the delicate print wires.

The printhead of a dot-matrix printer is made from a number of these print wire mechanisms. Most first-generation personal computer printers and many current machines use nine wires arrayed in a vertical column. To produce high quality, the second generation of these machines increased the number of print wires to 18 or 24. These often are arranged in parallel rows with the print wires vertically staggered, although some machines use different arrangements. Because the larger number of print wires fit into the same space (and print at the same character height), they can pack more detail into what they print. Because they are often finer than the print wires of lesser endowed machines, the multitude of print wires also promises higher resolution.

No matter the number of print wires, the printhead moves horizontally as a unit across the paper to print a line of characters or graphics. Each wire fires as necessary to form the individual characters or the appropriate dots for the graphic image. The impact of each wire is precisely timed so that it falls on exactly the right position in the matrix. The wires fire on the fly—the printhead never pauses until it reaches the other side of the paper.

A major factor in determining the printing speed of dot-matrix machines is the time required between successive strikes of each print wire. Physical laws of motion limit the acceleration that each print wire can achieve in ramming toward the paper and back. Therefore, the time needed to retract and reactuate each print wire puts a physical limit on how rapidly the printhead can travel across the paper. It cannot sweep past the next dot position before each of the print wires inside it is ready to fire. If the printhead travels too fast, dot-positioning (and character shapes) would become rather haphazard.

Adding color to an impact dot-matrix printer is relatively straightforward. The color that the impact printer actually prints is governed by the ink in or on its ribbon. Although some manufacturers build color impact printers using multiple ribbons, the most successful (and least expensive) design uses special multicolored ribbons lined with three or four bands corresponding to the primary colors. To change colors, the printer shifts the ribbon vertically so that a differently hued band lies in front of the print wires. Most of the time the printer will render a row in one color, shift ribbon colors, and then go across the same row in a different color. The extra mechanism required is simple and inexpensive, costing as little as $50 extra. (Of course, the color ribbon costs more and does not last as long as its monochrome equivalent.)

Although the ribbons used by most of these color printers are soaked with three or four colors of ink, they can achieve seven colors on paper by combining color pairs. For example, laying a layer of blue over a layer of yellow results in an approximation of green.

Most impact printers can spread their output across any medium that ink has an affinity for, including any paper you might have lying around your home, from onion skin to thin cardstock. Although both impact and non-impact technologies have been developed to the point that either can produce high-quality or high-speed output, impact technology takes the lead when you share one of the most common business needs: making multipart forms. Impact printers can hammer an impression not just through a ribbon but through several sheets of paper as well. Slide a carbon between the sheets, or better yet, treat the paper for noncarbon duplicates, and you get multiple, guaranteed-identical copies with a single pass through the mechanism. For a number of business applications—for example, the generation of charge receipts—exact carbon copies are a necessity and impact printing is an absolute requirement.

But impact printers have fallen from favor for several reasons. The primary one is, as always, cost. That marvelous printhead is a complicated mechanism with many parts to manufacturer and many areas to develop problems. Today’s leading printer technologies have cut the number of moving parts in a printer (and thus its cost) dramatically. Moreover, because the wires are mechanical constructions, making them smaller is a tough engineering problem. Compared to other technologies, the size of the dots made by impact printers is huge and the quality is low. Impact printouts look like, well, old-fashioned computer printouts.

Impact printers reveal their mechanical heritage in other ways. The hammer bashing against the ribbon and paper makes noise, a sharp staccato rattle that is high in amplitude and rich in high frequency components, penetrating and bothersome as a dental drill or angry horde of giant, hungry mosquitoes. Typically, the impact printer rattles and prattles louder than most normal conversational tones, and it is more obnoxious than an argument. The higher speed the impact printer, the higher the pitch of the noise and the more penetrating it becomes. What’s more, printheads wear out. Nothing can take a constant beating without suffering, and tiny printhead wires are no different.

Engineers discovered how to duplicate the work of the impact dot-matrix printer, only do it better, sharper, and with fewer moving parts and noise. The result was the inkjet printer, today’s low-cost, mass-market leader.

Inkjets

Today’s most popular personal printers use inkjet print engines. The odd name, inkjet, actually describes the printing technology. If it conjures up images of the Nautilus and giant squid or a B-52 spraying out blue fluid instead of a fluffy white contrail, your mind is on the right track. Inkjet printers are electronic squids that squirt out ink like miniature jet engines fueled in full color. Although this technology sounds unlikely—a printer that sprays droplets of ink onto paper—it works well enough to deliver image sharpness on par with most other output technologies.

In essence, the inkjet printer is a line printer, little more than a dot-matrix printer with the hammer impact removed. Instead of a hammer pounding ink onto paper, the inkjet flings it into place from tiny nozzles, each one corresponding to a print wire of the impact dot-matrix printer. The motive force can be an electromagnet or, as is more likely today, a piezoelectric crystal (a thin crystal that bends when electricity is applied across it). A sharp, digital pulse of electricity causes the crystal to twitch and force ink through the nozzle in its flight to paper.

Today’s inkjet printers are able to make sharper images than impact dot-matrix technology because they do not use ribbons, which would blur their images. The on-paper quality of an inkjet can equal and often better that of more expensive laser printers. Even inexpensive models claim resolution as high or higher than laser printers, say about 1200 or 1440 dots per inch.

Another advantage of the inkjet is color. Adding color is another simple elaboration. Most color impact printers race their printheads across each line several times, shifting between different ribbon colors on each pass—for example, printing a yellow row, then magenta, then cyan, and finally black. Inkjet printers typically handle three or four colors in a single pass of the printhead, although the height of colored columns often is shorter.

The liquid ink of inkjet printers can be a virtue when it comes to color. The inks remain fluid enough even after they have been sprayed on paper to physically blend together. This gives color inkjet printers the ability to actually mix their primary colors together to create intermediary tones. The range of color quality from inkjet printers is wide. The best yield some of the brightest, most saturated colors available from any technology. The vast majority, however, cannot quite produce a True Color palette.

Because inkjets are non-impact printers, they are much quieter than ordinary dot-matrix engines. Without hammers pounding ink onto paper like a bunch of myopic carpenters chasing elusive nails, inkjet printers sound almost serene in their everyday work. The tiny droplets of ink rustle so little air they make not a whisper. About the only sound you hear from them is the carriage coursing back and forth.

As mechanical line printers, however, inkjet engines have an inherent speed disadvantage when compared to page printers. Although they deliver comparable speeds on text when they use only black ink, color printing slows them considerably, to one-third speed or less.

The underlying reason for this slowdown is that most color inkjets don’t treat colors equally and favor black. After all, you’ll likely print black more often than any color or blend. A common Lexmark color inkjet printhead illustrates the point. It prints columns of color only 16 dots high while printing black columns 56 dots high (see Figure 26.2). Printing a line of color the same height as one in black requires multiple passes, even though the printer can spray all three colors with each pass.

Computer

Inkjet technology also has disadvantages. Although for general use you can consider them to be plain-paper printers, able to make satisfactory images on any kind of stock that will feed through the mechanism, to yield their highest quality inkjets require special paper with controlled absorbency. Although plain paper produces printouts adequate for business letters and other public disclosures, inkjet paper delivers the last iota of sharpness. You also have to be careful to print on the correct side of the paper because most paper stocks are treated for absorption only on one side. If you try to get by using cheap paper that is too porous, the inks wick away into a blur. If the paper is too glossy, the wet ink can smudge.

Early inkjet printers also had the reputation, often deserved, of clogging regularly. To avoid such problems, better inkjets have built-in routines that clean the nozzles with each use. These cleaning procedures do, however, waste expensive ink. Most nozzles now are self-sealing, so when they are not used, air cannot get to the ink. Some manufacturers even combine the inkjet and ink supply into one easily changeable module. If, however, you pack an inkjet away without properly purging and cleaning it first, it is not likely to work when you resurrect it months later.

Inkjet printers commonly use two different technologies, thermal and piezo-electric. (A third inkjet technology, phase-change, is distinct enough to have entirely different printing qualities.) At heart, the basic technology of both kinds of inkjets is the same. The machines rely on the combination of the small orifice in the nozzle and the surface tension of liquid ink to prevent a constant dribble from the jets. Instead of oozing out, the ink puckers around the hole in the inkjet the same way that droplets of water bead up on a waxy surface. The tiny ink droplets scrunch together rather than spread out or flow out the nozzle, because the attraction of the molecules in the ink (or water) is stronger than the force of gravity. The inkjet engine needs to apply some force to break the surface tension and force the ink out, and that’s where the differences in inkjet technologies arise.

Thermal Inkjets

The most common inkjet technology is called thermal because it uses heat inside its printhead to boil a tiny quantity of water-based ink. Boiling produces tiny bubbles of steam that can balloon out from the nozzle orifices of the printhead. The thermal mechanism carefully controls the bubble formation. It can hold the temperature in the nozzle at just the right point to keep the ink bubble from bursting. Then, when it needs to make a dot on the paper, the printhead warms the nozzle, the bubble bursts, and the ink sprays from the nozzle to the paper to make a dot. Because the bubbles are so tiny, little heat or time is required to make and burst the bubbles—the printhead can do it hundreds of times in a second.

This obscure process was discovered by a research specialist at Canon way back in 1977, but developing it into a practical printer took about seven years. The first mass-marketed computer inkjet printer was the Hewlett-Packard ThinkJet, introduced in May, 1984, which used the thermal inkjet process (which HP traces back to a 1979 discovery by HP researcher John Vaught). This single-color printer delivered 96 dot per inch resolution at a speed of 150 characters per second, about on par with the impact dot-matrix printers available at the same time. The technology—not to mention the speed and resolution—has improved substantially since then. The proprietary name, BubbleJet, used by Canon for its inkjet printer derives from this technology, although thermal-bubble design is also used in printers manufactured by Hewlett-Packard, Lexmark, and Texas Instruments.

The heat that makes the bubbles is the primary disadvantage of the thermal inkjet system. It slowly wears out the printhead, requiring that you periodically replace it to keep the printer working at its best. Some manufacturers minimize this problem by combining their printers’ nozzles with their ink cartridges so that when you add more ink you automatically replace the nozzles. With this design you never have to replace the nozzles, at least independently, because you do it every time you add more ink.

Because nozzles ordinarily last much longer than the supply in any reasonable inkjet reservoir, other manufacturers make the nozzles a separately replaceable part. The principal difference between these two systems amounts to nothing more than how you do the maintenance. Although the combined nozzles-and-ink approach would seem to be more expensive, the difference in the ultimate cost of using either system is negligible.

Piezoelectric Inkjets

The alternative inkjet design uses the squirt gun approach—mechanical pressure to squeeze the ink from the printhead nozzles. Instead of a plunger pump, however, these printers generally use special nozzles that squash down and squeeze out the ink. These nozzles are made from a piezoelectric crystal, a material that bends when a voltage is applied across it. When the printer zaps the piezoelectric nozzle with a voltage jolt, the entire nozzle flexes inward, squeezing the ink from inside and out the nozzle, spraying it out to the paper. This piezoelectric nozzle mechanism is used primarily by Epson in its Stylus line of inkjet printers.

The chief benefit of this design, according to Epson, is a longer-lived printhead. The company also claims it yields cleaner dots on paper. Bursting bubbles may make halos of ink splatter, whereas the liquid droplets from a piezoelectric printer form more solid dots.

Phase-Change Inkjets

Closely related to inkjet machines are phase-change printers. These printers are actually a derivation on inkjet technology that concentrates on the ink more than its motion. Instead of using solvent-based inks that are fixed (that is, that dry) by evaporation or adsorption into the print medium, the phase-change printer uses inks that harden, changing phase from liquid to solid. Scientifically speaking, the hardening process is a change in the state or phase of the ink, hence the name of the technology.

The ink of the phase-change printer starts as solid sticks or chunks of specially dyed wax. The printhead melts the ink into a thin liquid that is retained in a reservoir inside the printhead. The nozzles mechanically force out the liquid and spray it on paper. The tiny droplets, no longer heated, rapidly cool on the medium, returning to its solid state. Because of the use of solid ink, this kind of printer is sometimes called a solid inkjet printer.

The first printer to use phase-change technology was the Howtek Pixelmaster in the late 1980s. Marketed mostly as a specialty machine, the Howtek made little impression in the industry. Phase-change technology received its major push from Tektronix with its introduction of its Phaser III PXi in 1991. Tektronix, which was acquired by Xerox in 2001, refined phase-change technology to achieve smoother images and operation. Whereas the Pixelmaster used plastic-based inks that left little lumps on paper and sometimes clogged the printhead, the Phaser III used wax-based inks and a final processing step—a cold fuser—that flattened the cold ink droplets with a steel roller as the paper rolled out of the printer.

Phase-change printers are less sensitive to media than ordinary inkjet printers. They are also renown for the bright, saturated colors of their wax-based inks.

Laser

The one revolution that has changed the faces of both offices and forests around the world is the photocopier. Trees plummet by the millions to provide fodder for the duplicate, triplicate, megaplicate. Today’s non-impact, bit-image laser printer owes its life to this technology.

At heart, the laser printer principle is simple. Some materials react to light in strange ways. Selenium and some complex organic compounds modify their electrical conductivity in response to exposure to light. Both copiers and laser printers capitalize on this photoelectric effect by focusing an optical image on a photoconductive drum that has been given a static electrical charge. The charge drains away from the conductive areas that have been struck by light but persists in the dark areas. A special pigment called a toner is then spread across the drum, and the toner sticks to the charged areas. A roller squeezes paper against the drum to transfer the pigment to the paper. The pigment gets bonded to the paper by heating or “fusing” it.

The laser printer actually evolved from the photocopier. Rather than the familiar electrostatic Xerox machine, however, the true ancestor of the laser printer was a similar competing process called electrophotography, which used a bright light to capture an image and make it visible with a fine carbon-based toner. The process was developed during the 1960s by Keizo Yamaji at Canon. The first commercial application of the technology, called New Process to distinguish it from the old process (xerography), was a Canon photocopier released in 1968.

The first true laser printer was a demonstration unit made by Canon in 1975 based on a modified photocopier. The first commercial computer laser printer came in 1984 when Hewlett-Packard introduced its first LaserJet, which was based on the Canon CX engine. At heart, it and all later laser printers use the same process, a kind of heat-set, light-inspired offset printing.

The magic in a laser printer is forming the image by making a laser beam scan back and forth across the imaging drum. The trick, well known to stage magicians, is to use mirrors. A small, rotating mirror reflects the laser across the drum, tracing each scan line across it. The drum rotates to advance to the next scan line, synchronized to the flying beam of laser light. To make the light-and-dark pattern of the image, the laser beam is modulated on and off. It’s rapidly switched on for light areas, off for dark areas, one minuscule dot at a time to form a bit-image.

The major variations on laser printing differ only in the light beam and how it is modulated. LCD-shutter printers, for example, put an electronic shutter (or an array of them) between a constant light source (which need not be a laser) and the imaging drum to modulate the beam. LED printers modulate ordinary light-emitting diodes (LEDs) as their optical source. In any case, these machines rely on the same electrophotographic process as the laser printer to carry out the actual printing process.

The basic laser printer mechanism requires more than just a beam and a drum. In fact, it involves several drums o

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The Costs of Inflation

Economists do not pay much heed to the usual complaints about inflation. For most people the impact of rising prices is offset by rising wages. Those living on fixed incomes, such as welfare recipients or old-age pensioners, can (although may not) be protected through appropriate policy action. Arbitrary redistribution of wealth, such as rises in real estate values, comes about mainly if an inflation is unanticipated, in which case economists would condemn it.

From their study of microeconomics economists know that our economic system works well because prices act as signals to induce producers to produce the things we value most at the lowest cost—the right prices ensure that the economy maximizes the total welfare of its participants. This is what is meant when it is said that the price system is a very efficient way of allocating and distributing goods and services. To economists, the main cost of inflation is the resource misallocation it causes—the loss of efficiency that results because inflation distorts price signals. This happens in many different ways, some examples of which follow.

Magic Tricks Exposed

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What Level of Inflation Should We Aim For?

In the early 1990s Governor John Crow of the Bank of Canada aimed for zero percent inflation. Most economists felt that this target was extreme; so did the Canadian government, which did not reappoint crow. Alan Greenspan, chairman of the Board of Governors of the Federal Reserve System, the U.S. central bank, offered a more flexible target in a statement to the U.S. Committee on Banking, Housing and Urban Affairs in February 1989:

Maximum sustainable economic growth over time is the U.S. Federal Reserve’s ultimate objective. The primary role of monetary policy in the pursuit of this goal is to foster price stability. For all practical purposes, price stability means that expected changes in the average price level are small enough and gradual enough that they do not materially enter business and household financial decisions.

He did not make the mistake of aiming for an unrealistic level that in any event is inappropriate, nor did he pin himself down to a specific level, the better to deal with criticism. An inflation rate of 2 or 3 percent seems to be an acceptable target.

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How Is Unemployment Measured?

Each month about 1,500 employees of the Bureau of the Census, on behalf of the the Bureau of Labor statistics (BLS), interview about 60,000 households. Each civilian household member 16 years of age or older is first asked if he or she did any work for pay during the last week, and if the answer is yes, even if it was just for an hour, that person is counted as employed. Those answering no are asked if they worked 15 hours or more without pay for a family business or farm, and if the answer is yes they are counted as employed. Those answering no are asked if they are waiting to begin a confirmed job or to be called back to a job from which they have been laid off; if the answer is yes they are counted as unemployed. Those answering no are asked if they have been doing anything to find work during the last four weeks, and if they answer yes they are counted as unemployed. The others, those who have not been looking for work (because they are students or homemakers, for example, or because they have given up hope of finding a job) are classified as not in the labor force. The official unemployment rate, sometimes referred to as U3, is calculated as the ratio of the unemployed to the sum of the employed and unemployed.

The BLS publishes other unemployment rate measures. For example, U1 is based on those who have been unemployed for 15 weeks or longer and is intended to reflect unemployment with a more substantive financial loss. In addition to those counted in U3, U4 includes discouraged workers, measured as those who want work, have searched for work during the preceding year, and claim they have stopped searching because of a lack of suitable jobs. Finally, U6, intended to reflect potential labor resources, includes those claiming to want work but not searching (for whatever reason) and part-time workers wanting full-time work. In January 1999, U1 was 1.1%, U3 was 4.8%, U4 was 5.0%, and U6 was 8.5%. The gap between U3 and U4 is usually about two percentage points, but shrinks during booms (as is the case for 1999) and widens during recessions.

In addition to these overall rates of unemployment, information on a variety of characteristics of the unemployed is reported. For example, in 1998 the unemployment rate was 4.5 percent overall but 4.4 percent for males, 4.6 percent for females, 16.2 percent for males aged 16-19, 12.9 percent for females aged 16-19, 3.9 percent for whites, and 8.9 percent for blacks. About 50 percent of the unemployed had lost their job, 32 percent were reentrants to the labor force, 12 percent were job leavers, and 6 percent were new entrants. About 45 percent had been unemployed for less than 5 weeks, 29 percent for 5-14 weeks, 12 percent for 15-26 weeks, and 26 percent for longer than 26 weeks.

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How Do the GDP Deflator and the CPI Differ?

The GDP deflator and the CPI are both price indices. The CPI is particularly well known because it measures changes in the cost of living and so is of more personal interest to individuals, and for that reason it is the price index normally used to calculate the rate of inflation. There are three major differences between these two indices. First, the CPI reflects prices of only consumer goods and services, whereas the GDP deflator calculation includes prices of all output. Second, the CPI incorporates prices of imports, excluded from the GDP deflator calculation. And third, the GDP deflator allows the output basket to change each year, whereas for the CPI it changes only every two years and with a lag. Two minor differences are of note. First, once published the CPI is never revised, as are other statistics, because it is often used in contracts to measure cost-of-living wage adjustments. And second, these price indices have different base years, currently 1992 for the GDP deflator, and 1982-84 for the CPI. Despite these differences, both indices produce very similar inflation measures.

Here is a technical detail for those really curious about price index calculations. The GDP deflator actually used is a chained index, calculated slightly differently than described in the text (but the resulting numbers are very similar). Real growth from one year to the next, say from 1992 to 1993, is calculated first by measuring and comparing the two years’ physical outputs in 1992 prices and then by measuring and comparing the two years’ physical outputs in 1993 prices. The geometric average of these two growth rates is used to measure real growth between these two years. This procedure is done for all adjacent years, and then the base-year value of GDP is augmented by these growth rates year (i.e., “chaining” the growth rates together) to produce the real GDP series. This series is then used to produce the corresponding “chained” price index by dividing nominal GDP by real GDP. This procedure reduces bias caused by changes in output bundles from year to year.