Measuring Standard Error of Inflation in Pakistan: A Stochastic Approach
Stochastic approach to index number (and its change) has recently attracted renewed attention of researchers as it provides the standard error of index number (and its change). One of the most important uses of index number is in the case of measurement of the general price level in an economy (and then inflation of course). In this study we estimate standard errors of month on month and year on year inflation in Pakistan under stochastic approach, following Clement and Izan (1987). We contribute in this study by providing mechanism and estimating the standard error of period average of YoY inflation and apply this to Pakistan data.
|Date of creation:||31 Dec 2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Michael F. Bryan & Stephen G. Cecchetti, 1993.
"The Consumer Price Index as a Measure of Inflation,"
NBER Working Papers
4505, National Bureau of Economic Research, Inc.
- Michael F. Bryan & Stephen G. Cecchetti, 1993. "The consumer price index as a measure of inflation," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 15-24.
- Paul Crompton, 2000. "Extending the stochastic approach to index numbers," Applied Economics Letters, Taylor & Francis Journals, vol. 7(6), pages 367-371.
- 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.
- 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, 1984. "The Measurement of Inflation: a Stochastic Approach," Economics Discussion / Working Papers 84-10, The University of Western Australia, Department of Economics.
- Eliyathamby A. Selvanathan & Saroja Selvanathan, 2006. "Measurement of inflation: An alternative approach," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 403-418, November.
- Selvanathan, E. A. & Selvanathan, S., 2004. "Modelling the commodity prices in the OECD countries: a stochastic approach," Economic Modelling, Elsevier, vol. 21(2), pages 233-247, March.
- E. A. Selvanathan, 2003. "Extending the stochastic approach to index numbers: a comment on Crompton," Applied Economics Letters, Taylor & Francis Journals, vol. 10(4), pages 213-215.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:35422. 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: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.