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Multilateral Sato-Vartia Index for International Comparisons of Prices and Real Expenditures

Author

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  • Abe, Naohito
  • Rao, D.S.Prasada

Abstract

The Sato-Vartia (SV) index for bilateral price comparisons has impressive analytical properties and is used intensively in recent international trade and macroeconomic analyses. In this paper we propose several ways of constructing transitive multilateral version of the SV index. We show that the SV index is only one of many logarithmic indices that satisfy the factor reversal test discussed in index number theory. We derive closed form expressions for the generalized SV indices and empirically implement the new indices for making cross-country price comparison using World Bank data from the 2011 International Comparison Program.

Suggested Citation

  • Abe, Naohito & Rao, D.S.Prasada, 2019. "Multilateral Sato-Vartia Index for International Comparisons of Prices and Real Expenditures," RCESR Discussion Paper Series DP19-1, Research Center for Economic and Social Risks, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:rcesrs:dp19-1
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    Cited by:

    1. is not listed on IDEAS
    2. Jacek Bia{l}ek & Maciej Berk{e}sewicz, 2020. "Scanner data in inflation measurement: from raw data to price indices," Papers 2005.11233, arXiv.org.

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    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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