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An Index Number Formula Problem The Aggregation of Broadly Comparable items

Index number theory informs us that if data on matched prices and quantities are available, a superlative index number formula is best to aggregate heterogeneous items, and a unit value index to aggregate homogeneous ones. The formulas can give very different results. Neglected is the practical case...

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Bibliographic Details
Main Author: Silver, Mick
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Price Indexes
Inflation
Standardization And Compatibility
Leading Indicators
Index Numbers And Aggregation
Deflation
Methodology For Collecting, Estimating, And Organizing Microeconomic Data
Size Distribution Of Firms
Price Level
Macroeconomics
Export Price Indexes
Production, Pricing, And Market Structure
Information And Product Quality
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Index number theory informs us that if data on matched prices and quantities are available, a superlative index number formula is best to aggregate heterogeneous items, and a unit value index to aggregate homogeneous ones. The formulas can give very different results. Neglected is the practical case of broadly comparable items. This paper provides a formal analysis as to why such formulas differ and proposes a solution to this index number problem
Physical Description:22 pages
ISBN:9781451871661

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