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Drobisch's Legacy to Price Statistics

Author

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  • Ludwig von Auer

Abstract

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 formulate the unit value index as well as the Laspeyres and Paasche price indices. These three indices are the key for the official inflation measurements that are made around the world today.

Suggested Citation

  • Ludwig von Auer, 2010. "Drobisch's Legacy to Price Statistics," Research Papers in Economics 2010-05, University of Trier, Department of Economics.
    • Handle: RePEc:trr:wpaper:201005
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    File URL: http://www.uni-trier.de/fileadmin/fb4/prof/VWL/EWF/Research_Papers/2010-05.pdf
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    References listed on IDEAS

    as
    1. Balk,Bert M., 2012. "Price and Quantity Index Numbers," Cambridge Books, Cambridge University Press, number 9781107404960, November.
    2. Ludwig von Auer, 2009. "The Measurement of Macroeconomic Price Level Changes," Research Papers in Economics 2009-01, University of Trier, Department of Economics.
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    More about this item

    Keywords

    Price; Inflation; Index Theory; Measurement;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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