Extending the stochastic approach to index numbers: a comment on Crompton
Stochastic approach has received renewed attention in recent years (e.g. Clements and Izan, and Selvanathan and Rao). However, there was some criticism about the form of the error variance used in the new stochastic approach (see work by Diewert). In a recent paper in Applied Economics Letters, Crompton provided a solution to this problem. This article presents some comments and corrections on Crompton's work.
Volume (Year): 10 (2003)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/RAEL20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RAEL20|
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.:
- Selvanathan, E A, 1989. "A Note on the Stochastic Approach to Index Numbers," Journal of Business & Economic Statistics, American Statistical Association, vol. 7(4), pages 471-74, October.
- Prasada Rao, D S & Selvanathan, E Anthony & Pilat, Dirk, 1995. "Generalized Theil-Tornqvist Indices with Applications to International Comparisons of Prices and Real Output," The Review of Economics and Statistics, MIT Press, vol. 77(2), pages 352-60, May.
- Selvanathan, E. A. & Prasada Rao, D. S., 1992. "An econometric approach to the construction of generalized Theil-Tornqvist indices for multilateral comparisons," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 335-346.
- K.W. Clements & H.Y. Izan, 1984.
"The Measurement of Inflation: a Stochastic Approach,"
Economics Discussion / Working Papers
84-10, The University of Western Australia, Department of Economics.
- Clements, Kenneth W & Izan, H Y, 1987. "The Measurement of Inflation: A Stochastic Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(3), pages 339-50, July.
- K.W. Clements & H.Y. Izan, 1987. "The Measurement of Inflation: A stochastic approach," Economics Discussion / Working Papers 87-02, The University of Western Australia, Department of Economics.
- Diewert, Erwin, 2007. "Index Numbers," Economics working papers diewert-07-01-03-08-17-23, Vancouver School of Economics, revised 31 Jan 2007.
- Rao, D S Prasada & Selvanathan, E A, 1992. "Computation of Standard Errors for Geary-Khamis Parities and International Prices: A Stochastic Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(1), pages 109-15, January.
When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:10:y:2003:i:4:p:213-215. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.