Price Indexes in Time and Space: Methods and Practice

Front Cover
Luigi Biggeri, Guido Ferrari
Springer Science & Business Media, Jul 3, 2010 - Business & Economics - 264 pages

This book deals with the currently most relevant topics in price index numbers theory and practice. The problem of the harmonization of Consumer Price Indexes (CPIs) and the time-space integration of baskets is analyzed at the EU-zone level, with methodological and practical proposals on how to proceed for an overall treatment of the matter. Another issue is comparisons between Purchasing Power Parities (PPPs) and CPIs. Likewise, the construction of sub-indexes for households, economic and social groups is investigated, in order to obtain specific inflation measurement instruments. The book provides evidence from the most updated databases. Among the other issues treated in this book are spatial comparisons of price levels through PPPs and the international comparisons of macroeconomic aggregates, a re-consideration of index numbers theory, the measurement of production in non-market services, deflation problems, and price indexes in financial markets.

 

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Contents

Are Integration and Comparison Between CPIs and PPPs Feasible?
3
Retrospective Approximations of Superlative Price Indexes for Years Where Expenditure Data Is Unavailable
25
Harmonized Cross Region and Cross Country CPI TimeSpace Integration in the EuroZone
43
Part II Consumer Price Indexes in Space
60
Modelling Spatially Correlated Error Structures in the TimeSpace Extrapolation of Purchasing Power Parities
63
Price Indexes across Space and Time and the Stochastic Properties of Prices
97
The Italian Experience
115
Part III Subindexes
132
Measuring the Production of NonMarket Services
167
Part IV Price Indexes in National Accounts
188
An Application to the Italian Economy
191
Jointly Consistent Price and Quantity Comparisons and the GeoLogarithmic Family of Price Indexes
207
Part V Price Indexes in Financial Markets
224
Common Trends in Financial Markets
225
An Application of Index Numbers Theory to Interest Rates
239
Methodological Issues
249

An Analysis of Heterogeneity Across SubPopulations
133
The Case of Pasta
151

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