This study introduces the urbanicity index of employment. Unlike traditional measures of urbanization (e.g., urbanization rate), the urbanicity index is distance-based and accounts for the scale aspect as well as the concentration aspect of urbanization. The concentration aspect can be...

A chained price index is said to suffer from chain drift bias if it indicates an overall price change, even though the prices and quantities in the current period have reverted back to their levels of the base period. The empirical relevance of this bias is well documented in studies that apply...

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 import and export price indices of an economy are usually compiled by some Laspeyres type index. It is well known that such an index formula is prone to substitution bias. Therefore, also the terms of trade (ratio of export and import price index) are likely to be distorted. The underlying...