Measurement of Inflation: Another Stochastic Approach
AbstractIn this paper, we present an alternative approach to inflation and inflation measurement based on Menger’s theory of inner exchange value of money and on the stochastic approach to index numbers. We briefly describe the characteristics of the sample cross-section distribution of price changes. We propose a measure of inflation based on Törnqvist price index adjusted by the (a)symmetric trimmed means.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0306014.
Length: 38 pages
Date of creation: 19 Jun 2003
Date of revision:
Note: Type of Document - Tex; prepared on IBM PC - PC-TEX; to print on HP; pages: 38; figures: included
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inflation stochastic index number Tornqvist;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-06-25 (All new papers)
- NEP-ECM-2003-06-26 (Econometrics)
- NEP-MAC-2003-06-25 (Macroeconomics)
- NEP-MON-2003-06-25 (Monetary Economics)
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