household consumption, such as the ones published by the World Bank, are not based explicitly on economic theory. So it is not … conventional multilateral index such as the World Bank’s PPP for consumption. … empirical evidence against homotheticity. The estimates of the standard of living in this paper are based on the economic theory …

-dependent: the level of a Divisia index is affected not just by the level of prices at the two endpoints but also by the path between … the endpoints. It is also well-known that a Divisia index of the cost of living is path-independent if and only if all … income elasticities are equal to one, a restriction that is decisively rejected by studies of consumer demand. In theory, the …

are many more parameters than observations. Index number theory has solved this problem, at least when demand is … demand is not homothetic, i.e. when not all expenditure elasticities are equal to one. In principle, economic theory tells us … how we should calculate a true cost-of-living index or Konüs price index: first estimate the consumer's expenditure …

. In the special case of a nonparametric regression subject to time series errors our estimator achieves efficiency … consistent and asymptotically normal unlike the standard regression smoother. We also present the distribution theory for the …

We propose a modification of kernel time series regression estimators that improves efficiency when the innovation …

capital? The answer, based on a simple model of temporary equilibrium, is that ex post is better in theory. In practice …

we can, the mathematical theory (due to L S Penrose) that addresses this sort of issue. We assess the decision rule …