The elasticity of substitution of superlative price indices

The paper presents a method for computing the curvature implicit in the use of superlative price indices. It extends the quadratic lemma and allows us to compute the elasticity of substitution of the underlying preferences in the direction of the observed price change for the Törnqvist and the quadratic mean of order r indices. It derives the expressions for the directional shadow elasticity of substitution and applies the results to the Norwegian CPI data base.

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Year of publication:	2005
Authors:	Frenger, Petter
Publisher:	Oslo : Statistics Norway, Research Department
Subject:	elasticity of substitution \| superlative index \| consumer price index (CPI).

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Series:	Discussion Papers ; 407
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	hdl:10419/192389 [Handle] RePEc:ssb:dispap:407 [RePEc]
Classification:	C43 - Index Numbers and Aggregation ; D12 - Consumer Economics: Empirical Analysis
Source:	EconStor

Persistent link: https://www.econbiz.de/10011968177