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Preisindizes mit konstanten Wertgewichten. Bemerkungen zu einem Vorschlag von Werner Neubauer / Two Price Index Formulas Proposed by W. Neubauer

Author

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  • Lippe Peter von der

    (Universität GH Essen, Fachbereich Wirtschaftswissenschaften, D-45117 Essen)

Abstract

In a number of articles Neubauer tried to justify and recommend the use of two formulas, one known as Palgrave’s index, the other being the harmonic mean of price relatives where weights are expenditures at base period. The properties of the two formulas are examined in detail. The indices have some noteworthy advantages, and they yield results within the interval spanned by the Paasche und Laspeyres index respectively. There are also some shortcomings however. The indices violate strict monotonicity and linearity, and they have weaknesses as deflators because the resulting (implicit) quantity indices fail proportionality and hence also identity in the quantities. Neubauer’s interpretation in terms of hypothetic quantities and “pure price comparison” also raises some questions. Nonetheless it is totally surprising that these indices are sadly neglected and ignored. They did not receive the attention and appreciation they deserve, whereas Fisher’s “ideal” index, though much more deficient in many respects, is generally hailed as unsurpassed “non plus ultra”.

Suggested Citation

  • Lippe Peter von der, 2000. "Preisindizes mit konstanten Wertgewichten. Bemerkungen zu einem Vorschlag von Werner Neubauer / Two Price Index Formulas Proposed by W. Neubauer," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 220(6), pages 742-758, December.
    • Handle: RePEc:jns:jbstat:v:220:y:2000:i:6:p:742-758
    DOI: 10.1515/jbnst-2000-0609
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