Recurrent Price Index Problems and Some Early German Papers on Index Numbers
AbstractWith Laspeyres, Paasche and other authors such as Drobisch and Lehr, Germany made quite a promising start in index theory in the last decades of the 19th century. However, it soon lost ground after this period, which is described in this paper. The focus is not on biographies but on controversies where these persons acted as opponents and developed the views for which they are well known. The issues selected are primarily those which are still interesting and controversial today, e. g. the merits and demerits of certain index formulas, the definition and updating of weights, “pure” price comparison vs. chain indices etc. However, in order to aid a better understanding of how Laspeyres etc. arrived at their index formulas and views about the purposes index numbers should serve, some attention is also given to the typical disputes and prejudices of that time (e. g. regarding inflation under the regime of a gold currency).
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Bibliographic InfoArticle provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.
Volume (Year): 233 (2013)
Issue (Month): 3 (May)
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More information through EDIRC
Index numbers; Laspeyres; Paasche; Drobisch; chain indices; unit values; inflation; geometric mean; time reversal test; index theory; pure price comparison;
Find related papers by JEL classification:
- B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Balk,Bert M., 2008. "Price and Quantity Index Numbers," Cambridge Books, Cambridge University Press, number 9780521889070.
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