The paper illustrates how various commonly used index number formulae perform using monthly data on seasonal commodities (seven types of vegetable) that was collected by the Israeli Consumer Price Index program. The paper calculates standard Laspeyres, Paasche and Fisher indexes (fixed base and...

In this paper we theoretically and empirically model import demand and export supply behavior of firms for the U.S. economy from 1967-1982. A producer theoretic approach based on duality theory is used to derive econometric systems of producer supply and demand functions that are consistent with...

The paper obtains relatively simple exact expressions that relate value added Total Factor Productivity growth (TFP growth or Multifactor Productivity Growth) in a value added framework to the corresponding measures of TFP growth in a gross output framework when Laspeyres or Paasche indexes are...

Caves, Christensen and Diewert proposed a method for estimating a theoretical productivity index for a firm using Törnqvist input and output indexes, augmented by exogenous estimates of local returns to scale. However, in order to implement their method, they assumed that the firm maximized...

In this paper we employ a recently proposed procedure (Dlewert and Morrison[1985]) for adjusting real domestic product and productivity for changes in a country's terms of trade. We apply this procedure to a comparison of two major industrialized countries, the U.S. and Japan. The approach is...

In this paper we employ index number theory in addressing the problem of adjusting real national income and real domestic product for changes in a country's terms of trade. More specifically, using recent developments in the theory of production, we address the problems related to measuring: (i)...

The paper derives a consistent accounting framework for the treatment of inventories when measuring the productivity of a distribution firm. The average purchase price of an inventory item during an accounting period must be distinguished from its average selling price and these two average...