Generalized Theil-Tornqvist Indices with Applications to International Comparisons of Prices and Real Output
AbstractThe Theil-Tornqvist index number is widely used for binary comparisons of prices, output, and productivity. This paper describes various generalizations of the Theil-Tornqvist index for purposes of multilateral spatial comparisons due to Douglas W. Caves, Laurits R. Christensen, and W. Erwin Diewert, and more recent further generalizations due to D. S. Prasada Rao and E. Anthony Selvanathan based on the 'stochastic approach' to index numbers. The applicability of the new index numbers is demonstrated using international comparison data on private consumption expenditure and manufacturing-sector output. Copyright 1995 by MIT Press.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics & Statistics.
Volume (Year): 77 (1995)
Issue (Month): 2 (May)
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- J.P. Neary, 1997.
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CEP Discussion Papers
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- Eric Blankmeyer, 1999. "Best Log-linear Index Numbers: Extensions and Applications," Econometrics 9904001, EconWPA.
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