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The Wrongs And Rights Of Unit Value Indices

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  • Mick Silver

Abstract

There are two sides to unit value indices. The first is their widespread and unwarranted use based on customs data as surrogates for price relatives of product groups of exports and imports. For the aggregation of heterogeneous items, superlative price indices are best and unit value indices are biased. The second is the widespread and unwarranted use of price indices for homogeneous items, for which unit value indices are best and superlative price indices are biased. Then there is the "in-between": the case of broadly comparable items. This paper examines such issues. Copyright 2010 The International Monetary Fund. Journal compilation 2010 International Association for Research in Income and Wealth.

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Bibliographic Info

Article provided by International Association for Research in Income and Wealth in its journal Review of Income and Wealth.

Volume (Year): 56 (2010)
Issue (Month): s1 (06)
Pages: S206-S223

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Handle: RePEc:bla:revinw:v:56:y:2010:i:s1:p:s206-s223

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Cited by:
  1. Peter von der Lippe & W.Erwin Diewert, 2010. "Notes on Unit Value Index Bias," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 230(6), pages 690-708, December.
  2. Konstantin M. Wacker, 2011. "Do multinationals beat down developing countries' export prices? The impact of FDI on net barter terms of trade," Ibero America Institute for Econ. Research (IAI) Discussion Papers 211, Ibero-America Institute for Economic Research.
  3. Konstantin M. Wacker, 2011. "The Impact of Foreign Direct Investment on Developing Countries’ Terms of Trade," Working Paper Series UNU-WIDER Working Paper W, World Institute for Development Economic Research (UNU-WIDER).
  4. Ludwig von Auer, 2011. "The Generalized Unit Value Index," Research Papers in Economics 2011-12, University of Trier, Department of Economics.
  5. Fedoseeva, Svetlana, 2013. "Do German exporters PTM? Searching for right answers in sugar confectionery exports," Discussion Papers 62, Justus Liebig University Giessen, Center for international Development and Environmental Research (ZEU).
  6. Andreas Benedictow & Pål Boug, 2014. "Calculating the real return of the Norwegian Government Pension Fund Global by alternative measures of the deflator," Discussion Papers 775, Research Department of Statistics Norway.
  7. Thomas von Brasch, 2013. "The cost-of-living index with trade barriers," Discussion Papers 751, Research Department of Statistics Norway.
  8. Wacker, Konstantin M. & Großkurth, Philipp & Lakemann, Tabea, 2014. "Terms of Trade, Foreign Direct Investment, and Development: A Case of Intra-Asian “Kicking Away the Ladder”?," Working Papers on Regional Economic Integration 122, Asian Development Bank.

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