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Index Number Approaches To Seasonal Adjustment

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  • Diewert, W. Erwin

Abstract

A seasonal commodity is one that either (1) is not available during certainseasons or (2) is always available but its prices or quantities fluctuate with the season or time of year. The existence of type-1 seasonal commodities in consumer preference functions means that the usual economic approach to index number theory cannot be applied to construct a short-term month-to-month or quarter-to-quarter consumer priceindex. We postulate various separability assumptions onintertemporal preferences that can be used to justify various seasonal index number formulas. One of our approaches leads to an index number solution to the problem of seasonal adjustment.

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Bibliographic Info

Article provided by Cambridge University Press in its journal Macroeconomic Dynamics.

Volume (Year): 3 (1999)
Issue (Month): 01 (March)
Pages: 48-68

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Handle: RePEc:cup:macdyn:v:3:y:1999:i:01:p:48-68_01

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Cited by:
  1. Travis D. Nesmith, 2006. "Rational seasonality," Finance and Economics Discussion Series 2007-04, Board of Governors of the Federal Reserve System (U.S.).
  2. Robert C. Feenstra & Erwin W. Diewert, . "Imputation and Price Indexes: Theory and Evidence from the International Price Program," Department of Economics 00-12, California Davis - Department of Economics.
  3. , & Diewert, Erwin, 2014. "An Empirical Illustration of Index Construction using Israeli Data on Vegetables," Economics working papers erwin_diewert-2014-11, Vancouver School of Economics, revised 11 Mar 2014.
  4. Carol Corrado & Wendy Dunn & Maria Otoo, 2006. "Incentives and prices for motor vehicles: what has been happening in recent years?," Finance and Economics Discussion Series 2006-09, Board of Governors of the Federal Reserve System (U.S.).
  5. W. Diewert & Alice Nakamura, 2003. "Index Number Concepts, Measures and Decompositions of Productivity Growth," Journal of Productivity Analysis, Springer, vol. 19(2), pages 127-159, April.
  6. Barnett, William A. & Liu, Jia & Mattson, Ryan S. & van den Noort, Jeff, 2012. "The new CFS Divisia monetary aggregates: design, construction, and data sources," MPRA Paper 38905, University Library of Munich, Germany.
  7. de Haan, Jan & van der Grient, Heymerik A., 2011. "Eliminating chain drift in price indexes based on scanner data," Journal of Econometrics, Elsevier, vol. 161(1), pages 36-46, March.
  8. Adam Copeland, 2013. "Seasonality, consumer heterogeneity and price indexes: the case of prepackaged software," Journal of Productivity Analysis, Springer, vol. 39(1), pages 47-59, February.
  9. W. Erwin Diewert, 2003. "Measuring Capital," NBER Working Papers 9526, National Bureau of Economic Research, Inc.

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