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Price-Level Computation: Illustrations

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Author Info
Sydney N. Afriat ()
Carlo Milana ()
Abstract

It has been submitted that, for the very large number of different traditional type formulae to determine price indices associated with a pair of periods, which are joined with the longstanding question of which one to choose, they should all be abandoned. For the method proposed instead, price levels associated with periods are first all computed together, subject to a consistency of the data, and then price indices that are true taken together are determined from their ratios. An approximation method can apply in the case of inconsistency. Here are illustrations of the method.

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Publisher Info
Paper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 506.

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Date of creation: Jul 2007
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Handle: RePEc:usi:wpaper:506

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Related research
Keywords: index-number problem; inflation; non-parametric; price index; price level; revealed preference.;

Find related papers by JEL classification:
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

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