The effect on the household consumption price index from possible sources of error in capturing digital products depends on the weight of the affected products. To calculate upper bounds for this effect, we apply weights based on the average structure of household consumption in OECD countries...

This paper studies the problems of measuring economic growth under conditions of high inflation. Traditional bilateral index number theory implicitly assumes that variations in the price of a commodity within a period can be ignored. In order to justify this assumption under conditions of high...

Welche Bedeutung sollte dem ökonomischen Theorieansatz und damit insbesondere dem ökonomischen Kostenindex der Lebenshaltung (im Folgenden als "nutzenbasierter Ausgabenindex", NBA, bezeichnet) in der amtlichen Inflationsmessung eingeräumt werden? In diesem Beitrag werden die Potenziale des...

We estimate the distribution of household-level inflation and show a strong and stable negative relationship between income and inflation that reflects the differences in consumption bundles along the income distribution (2010–2012). Inflation decreases as education levels increase. It is...

In order to provide information concerning the significant contributions to price index theory made by Moritz Wilhelm Drobisch (1802-1896), this paper presents an account of his pioneering scientific achievements together with a synopsis of his personal and professional life. He was the first to...

Textbooks of macroeconomics regularly remind their readers that they should not interpret the macroeconomic price variable as some sort of average price. Instead it represents some price index indicating the average of the individual items’ price changes between the period considered and some...

The inflation rate is normally computed as a weighted average of individual price changes. Alternatively, this rate could be evaluated by comparing average price levels. Unfortunately, this methodology has received limited attention in past research. This study attempts to remedy this situation...

This document analyzes different measures of international inflation and their influence on the domestic inflation. We found that these measurements have a statistical significant effect on the behavior of domestic inflation. Therefore the evolution of the international inflation must be...

Stochastic approach to index number (and its change) has recently attracted renewed attention of researchers as it provides the standard error of index number (and its change). One of the most important uses of index number is in the case of measurement of the general price level in an economy...

This paper analyses the degree of price rigidity and of inflation persistence across different product categories with particular focus on regulated prices and services for the individual EU15 countries, as well as for the EU15 and the euro area aggregates. We show that services and HICP...