We apply linear and non-linear Granger causality tests to four U.S. price indices and 31 commodity series, which expand a 54-year period (January 1957–December 2011). We find evidence of linear Granger causality mostly from individual commodities to price indices. The latter, however, seem to...

This paper analyzes the transmission from global commodity to domestic food prices for a large set of countries. First, a theoretical model is developed to explain price transmission for different trade regimes. Drawing from the competitive storage model under rational expectations, it is shown...

This paper explores the key reasons behind the movements in the terms of trade and the real net gain and loss from trade in the long run. Like some selected Asian countries (Vietnam, China and South Korea) except India, the terms of trade of Bangladesh has been in falling almost continuously....

PWT 7.0 data deviate substantially from PWT 6.3 data because the benchmarked prices for 1970 to 1996 used in PWT 6.3 were entirely discarded. PWT 7.0 data are unreliable and appear to be much less accurate than PWT 6.3 data.

This paper is an attempt to gauge the relationship between the long run paths of consumer price index and wholesale price index of Pakistan. For the empirical analysis the Johansen cointegration technique has been applied on monthly data (1978 to 2010) of WPI and CPI

The present article proposes a new approach to compare mobile communication service prices among different communications service providers. To this end, a hedonic model based on monthly phone bills is employed that relates billed amounts and the quantities of consumed mobile communication...

This report presents the summary results of purchasing power parities (PPP) in the 2011 International Comparison Program in Asia and the Pacific and background information on the concepts that underpin the results. The PPPs are disaggregated by major economic aggregates which enable robust...

Hedonic price indices are currently considered to be the state-of-the-art approach to computing constant-quality price indices. In particular, hedonic price indices based on imputed prices have become popular both among practitioners and researchers to analyze price changes at an aggregate...

The paper reviews the calculation of Indian wholesale and consumer price indices and suggests improvements in the light of past experience and international best practices. It confirms that food inflation has been the driver of domestic inflation.

This paper analyzes the transmission from global commodity to domestic food prices for a large set of countries. First, a theoretical model is developed to explain price transmission for different trade regimes. Drawing from the competitive storage model under rational expectations, it is shown...