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An index number formula problem : the aggregation of broadly comparable items

Author: M S Silver
Publisher: [Washington, D.C.] : International Monetary Fund, ©2009.
Series: IMF working paper, WP/09/19.
Edition/Format:   eBook : Document : EnglishView all editions and formats
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  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Silver, M.S.
Index number formula problem.
[Washington, D.C.] : International Monetary Fund, ©2009
(OCoLC)463635028
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: M S Silver
OCLC Number: 465438790
Description: 1 online resource (20 pages) : illustrations (some color).
Series Title: IMF working paper, WP/09/19.
Responsibility: prepared by Mick Silver.

Abstract:

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.

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