policy) rely on accurate measures of price change. Unfortunately, the price index formulae that most price statisticians … property of consistency in aggregation. This property, however, is indispensable for economic studies that attempt to …. The present paper introduces a thoroughly motivated formal definition of consistency in aggregation and proves that …

index number theory implicitly assumes that variations in the price of a commodity within a period can be ignored. In order … number theory cannot be applied. The present paper systematically reviews the problems of index number construction when … economic approach to index number theory by making separability assumptions on consumers? intertemporal preferences. We find …

The paper presents a general theory of the aggregation of prices and quantities that unifies the field and relates … topics that in the past have been treated separately and unsatisfactorily, or not at all. The theory does without the common … the theory lead to Törnqvist indexes defined on the appropriate data set. A numerical example confirms that in the non …

house price index. We quantify the extent to which disaggregated house prices indices have significantly more variability … than, and differing trends from, the aggregate index …

This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total … factor productivity growth (TFPG) index. These are easiest to understand for the case in which the index number problem is … demonstrate that a Paasche, Laspeyres or Fisher index number formula provides a measure for all four of the concepts of TFPG …

The paper presents a general theory of the aggregation of prices and quantities that unifies the field and relates … topics that in the past have been treated separately and unsatisfactorily, or not at all. The theory does without the common … the theory lead to Törnqvist indexes defined on the appropriate data set. A numerical example confirms that in the non …

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 base period. The Laspeyres and the Paasche index are cited as the best … to that of the base period. It is shown that a wide range of index formulas can be interpreted in this way, including the …

or across countries. Below the basic heading level, these price data often exhibit large gaps. Therefore,stochastic index … number methods like the CPD method and the GEKS method are utilised for the aggregation of the price data into higher …-level indices. Although the two index number methods produce differing price level estimates when prices are missing, the present …

index number methods like the CPDmethod and the GEKS method are utilised for the aggregation of the price data into higher …-level indices. Although the two index number methods produce differing price level estimates when prices are missing, the present … the GEKS method. Using price data of Germany's Consumer Price Index, it can be observed that more narrowly defined …