Index Numbers: A Stochastic Approach

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University of Michigan Press, 1994 - Business & Economics - 242 pages
The stochastic approach considers the index number problem as a signal extraction problem. The strength and reliability of the signal extracted from price and quality changes for different commodities depends upon the messages received and the information content of the messages. The most important applications of the new approach are to be found in the context of measuring rate of inflation; fixed and chain base index numbers for temporal comparisons and for spatial intercountry comparisons: the latter generally require special index number formulae that result in transitive and base invariant comparisons.

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Technical Notes xi
A Review
Stochastic Approach to Index Numbers
Measurement Of Inflation
Fixed And Chain Base Index Numbers
Index Numbers For Spatial Comparisons
Data Related Issues in Index Numbers
Data Appendix

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Page 235 - World Comparisons of Purchasing Power and Real Product for 1980 (New York: United Nations, 1986).
Page 233 - ... Making of Index Numbers, Boston: Houghton Mifflin. Montgomery, JK (1937) The Mathematical Problem of the Price Index, London: PS King & Son. Samuelson, PA and S. Swamy (1974) "Invariant Economic Index Numbers and Canonical Duality: Survey and Synthesis," American Economic Review, Vol. 64, pp. 566-593. Sato, K. (1974) "Ideal Index Numbers that Almost Satisfy the Factor Reversal Test," Review of Economics and Statistics, Vol.
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