IDEAS home Printed from https://ideas.repec.org/p/mac/wpaper/0301.html
   My bibliography  Save this paper

Surveying University Student Standards in Economics

Author

Listed:
  • Daehoon Nahm

    (Department of Economics, Macquarie University)

Abstract

It is believed that changes in the varieties of an imported product might have effects on the import price index for the product that are similar to the effects of new goods on the cost of living. Recently, a new index number formula that incorporates the effects of new goods has been suggested by Nahm (1998a). The index number formula is a known function of available values, and it is exact for the constant-elasticity-of-substitution (CES) preference ordering even when there exist new and disappeared goods. The formula has been applied to each of eight selected U.S. import products to compute each product’s import price index. As each product has several varieties and the set of varieties changes over time, a price index for the product should reflect changes in the choice set. The new index formula is designed to capture such effects. The results show that the indices based on the new index formula closely trace those based on a sophisticated econometric model.

Suggested Citation

  • Daehoon Nahm, 2003. "Surveying University Student Standards in Economics," Research Papers 0301, Macquarie University, Department of Economics.
    • Handle: RePEc:mac:wpaper:0301
    as

    Download full text from publisher

    File URL: http://www.econ.mq.edu.au/research/2003/CESApp.pdf
    File Function: First Version, 2003
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    price index; exact index; CES function;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mac:wpaper:0301. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Helen Boneham (email available below). General contact details of provider: https://edirc.repec.org/data/edmqqau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.