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Measuring changes in the value of the numeraire
Reis, Ricardo; Watson, Mark W. - 2007
This paper estimates a common component in many price series that has an equiproportional effect on all prices. Changes in this component can be interpreted as changes in the value of the numeraire since, by definition, they leave all relative prices unchanged. The first aim of the paper is to...
Persistent link: https://www.econbiz.de/10010260598
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Retrospective Price Indices and Substitution Bias
Diewert, Walter Erwin; Huwiler, Marco; Kohli, Ulrich - In: Swiss Journal of Economics and Statistics 145 (2009) 2, pp. 127-135
at discrete intervals only. It is well known that the Laspeyres functional form entails a substitution bias. One way to … proposed index has the Fisher form. This makes it possible to assess the size of the substitution bias. An application to Swiss …
Persistent link: https://www.econbiz.de/10011933194
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Verzerrungen von Konsumentenpreisindizes und ihr Einfluss auf das reale Wirtschaftswachstum: Dargestellt am Beispiel der USA
Hartwig, Jochen; Schips, Bernd - 2004
Der Aufsatz gibt einen Überblick über die Quellen von Verzerrungen des US-amerikanischen Konsumentenpreisindexes (CPI) nach oben und unten und diskutiert die Massnahmen, die das Bureau of Labor Statistics ergriffen hat, um sie zu beseitigen. Die verbliebenen Verzerrungen werden quantifiziert....
Persistent link: https://www.econbiz.de/10010285952
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Aggregation in large dynamic panels
Pesaran, Mohammad Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...
Persistent link: https://www.econbiz.de/10010285520
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Aggregation in large dynamic panels
Pesaran, Mohammad Hashem; Chudik, Alexander - 2011
This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is potentially related to all other micro units, and where micro innovations are allowed to be cross sectionally dependent. Following Pesaran (2003), an optimal aggregate function is...
Persistent link: https://www.econbiz.de/10010285540
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Regime dependence, common shocks and the inflation-relative price variability relation
Castagnino, Tomás; D'Amato, Laura - 2008
Using frequency domain techniques to separate short and long run dynamics and decomposing inflation into its common and idiosyncratic components, we study the regime dependence of the inflation-RPV relation in Argentina and the USA. Under High inflation, strong long-run comovement between RPV...
Persistent link: https://www.econbiz.de/10010325092
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Imputation and price indexes: Theory and evidence from the international price program
Feenstra, Robert C.; Diewert, W. Erwin - 2000
The goal of this paper is to theoretically and empirically demonstrate the consequences of different imputation methods, using recent data from the International Price Program. We suppose that prices are missing due to random or erratic reporting. We consider three different imputation methods:...
Persistent link: https://www.econbiz.de/10010318606
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Price indices on the basis of unit values: Unit value indices as proxies for price indices
von der Lippe, Peter - 2010
explaining this bias. It is shown that amount and sign of the 'unit value bias' depends on the correlation between the change of …
Persistent link: https://www.econbiz.de/10010303776
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Computing Additive Chained Volume Measures of GDP Subaggregates
Dumagan, Jesus C. - 2010
This paper derives formulas for additive "chained volume measures" (CVMs) of GDP subaggregates depending on the underlying GDP quantity index. In turn, this paper explains why the formulas used in current practice yield nonadditive CVMs. This paper's additive formulas have significant practical...
Persistent link: https://www.econbiz.de/10011421174
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On both sides of the quality bias in price indexes
Hobijn, Bart - 2002
argue that the quality bias in price indexes is just as likely to be upward as it is to be downward. I show how both the … sign and the magnitude of the quality bias in the most commonly applied price index methods are determined by the cross … (constant elasticity of substitution) preferences. I illustrate the bias in the commonly applied price index methods by …
Persistent link: https://www.econbiz.de/10010283346