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Economic Analysis of Production Price Indexes

Author

Listed:
  • Fisher,Franklin M.
  • Shell,Karl

Abstract

This work on index-number construction focuses on production indexes, including output and input deflators that can be used for constructing real output and real input. Fisher and Shell treat separately the different production units: the firm, the industry, and the economy, as well as the different forms of industrial organization: monopoly, monopsony, and competition. Only in the simplest cases is the appropriate theory isomorphic to that of the cost-of-living index because of the interlinkages among the various production units. A firm cannot always assume that the behavior of its competitors, suppliers, and customers will be unaffected by price changes and only in special cases can an industry take supply and demand conditions as given.

Suggested Citation

  • Fisher,Franklin M. & Shell,Karl, 1998. "Economic Analysis of Production Price Indexes," Cambridge Books, Cambridge University Press, number 9780521556231, December.
  • Handle: RePEc:cup:cbooks:9780521556231
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    Citations

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    Cited by:

    1. Ejargque, Joao & McKnight, Stephen, 2006. "Can we identify the relative price between consumption and investment?," Economics Discussion Papers 8904, University of Essex, Department of Economics.
    2. Marie Goppelsroeder & Maarten Pieter Schinkel & Jan Tuinstra, 2008. "QUANTIFYING THE SCOPE FOR EFFICIENCY DEFENSE IN MERGER CONTROL: THE WERDEN-FROEB-INDEX -super-," Journal of Industrial Economics, Wiley Blackwell, vol. 56(4), pages 778-808, December.
    3. Zofío, José Luis & Condeço-Melhorado, Ana M. & Maroto-Sánchez, Andrés & Gutiérrez, Javier, 2011. "Decomposing generalized transport costs using index numbers: A geographical analysis of economic and infrastructure fundamentals," Working Papers in Economic Theory 2011/06, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    4. Nicholas Oulton, 2002. "Productivity versus welfare: or, GDP versus Weitzman's NDP," Bank of England working papers 163, Bank of England.
    5. Surajit Deb, 2002. "Terms of Trade in a Multi-Sectoral Framework: Analysis for All-India and States," Working papers 112, Centre for Development Economics, Delhi School of Economics.
    6. Satoshi Nakano & Kazuhiko Nishimura, 2013. "Welfare gain from quality and price development in the Japan’s LCD TV market," Journal of Evolutionary Economics, Springer, vol. 23(4), pages 889-908, September.
    7. Jorge Durán & Omar Licandro, 2012. "Is the GDP Growth Rate in NIPA a Welfare Measure?," Working Papers 665, Barcelona Graduate School of Economics.
    8. Barnett, William A., 2003. "Aggregation-theoretic monetary aggregation over the euro area, when countries are heterogeneous," Working Paper Series 260, European Central Bank.
    9. Ghrissi Mhamdi, 2013. "Stability Of Money Demand Function In Tunisia," Post-Print halshs-01138431, HAL.
    10. Leslaw Gajek & Marek Kaluszka, 2015. "On the martingale-fair index of return for investment funds," Papers 1501.03768, arXiv.org.
    11. Zofío, Jose L. & Condeço-Melhorado, Ana M. & Maroto-Sánchez, Andrés & Gutiérrez, Javier, 2014. "Generalized transport costs and index numbers: A geographical analysis of economic and infrastructure fundamentals," Transportation Research Part A: Policy and Practice, Elsevier, vol. 67(C), pages 141-157.
    12. W. Erwin Diewert & Kevin J. Fox, 2017. "Decomposing Value Added Growth into Explanatory Factors," Discussion Papers 2017-02, School of Economics, The University of New South Wales.
    13. Dumagan, Jesus C., 2011. "Implementing Weights for Additivity of Chained Volume Measures in the National Accounts," Discussion Papers DP 2011-09, Philippine Institute for Development Studies.
    14. Marie Goppelsroeder & Maarten Pieter Schinkel & Jan Tuinstra, 2006. "Quantifying the Scope for Efficiency Defense in Merger Control: The Werden-Froeb-Index," Tinbergen Institute Discussion Papers 06-074/1, Tinbergen Institute.
    15. Jorge Duran & Omar Licandro, 2015. "Is the output growth rate in NIPA a welfare measure?," Discussion Papers 2015/18, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    16. Jacek Białek, 2011. "Remarks about the generalizations of the Fisher index," Statistics in Transition new series, Główny Urząd Statystyczny (Polska), vol. 12(1), pages 139-156, August.
    17. Elias Kourliouros & George Korres & Emmanuel Marmaras & George Tsobanoglou, 2006. "Economic Geography and Regional Growth: An Empirical Evidence From Greece," ERSA conference papers ersa06p30, European Regional Science Association.
    18. Diewert, W. Erwin & Fox, Kevin J., 2017. "The Difference Approach to Productivity Measurement and Exact Indicators," Microeconomics.ca working papers erwin_diewert-2017-10, Vancouver School of Economics, revised 24 Nov 2017.

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