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Aggregate Indices and Their Corresponding Elementary Indices
Published/Copyright:
March 16, 2016
Summary
“Which index formula at the elementary level, where no expenditure share weights are available, corresponds to a desired aggregate index?” To answer this question, this paper develops a statistical approach. It proposes a theoretical framework which makes it possible to achieve numerical equivalence of an elementary index with the Laspeyres, Paasche or Fisher price index. Depending on the price elasticity, different elementary indices should be applied to different groups of goods in order to approach the desired aggregate index as closely as possible. Furthermore, the new statistical approach assures internal consistency between price and volume measurement.
Keywords: Generalised mean; quadratic mean; log-normal distribution; partial adjustment model; price elasticity; internal consistency
Online erschienen: 2016-3-16
Erschienen im Druck: 2010-12-1
© 2010 by Lucius & Lucius, Stuttgart
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Keywords for this article
Generalised mean;
quadratic mean;
log-normal distribution;
partial adjustment model;
price elasticity;
internal consistency
Articles in the same Issue
- Titelei
- Inhalt des 230. Bandes
- Die Gutachter zum 230. Jahrgang der Jahrbücher für Nationalökonomie und Statistik (01.01.2010 bis 31.12.2010)
- Inhalt / Contents
- Introduction to the Special Issue on Index Number Theory and Price Statistics
- Abhandlungen / Original Papers
- Drobisch’s Legacy to Price Statistics
- Notes on Unit Value Index Bias
- Aggregate Indices and Their Corresponding Elementary Indices
- Lowe and Cobb-Douglas Consumer Price Indices and their Substitution Bias
- Reconsideration of Weighting and Updating Procedures in the US CPI
- User Costs versus Waiting Services and Depreciation in a Model of Production
- Hedonic Price Indexes: A Comparison of Imputation, Time Dummy and ’Re-Pricing’ Methods
- Housing Prices in Tokyo: A Comparison of Hedonic and Repeat Sales Measures
- Regional Consumer Price Differences Within Germany
- Buchbesprechungen / Book Reviews
