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Export and Import Price Indices

Author

Listed:
  • Jemma Dridi

    (International Monetary Fund)

  • Kimberly Zieschang

    (International Monetary Fund)

Abstract

Export and import price indices are essential for assessing the impact of international trade on the domestic economy. Among their most important uses are analyzing developments in the trade balance, measuring foreign prices' contribution to domestic inflation, and deflating nominal values of exports and imports for estimating the volume of gross domestic product. This paper discusses economic concepts for trade price indices at some length. We note the need for reasonably frequent chaining in view of the fluctuation in the conditioning variables of trade price indices. We characterize the effect of the residency orientation of the index on the substitution biases of the commonly used Laspeyres and Paasche formulas, and superlative formulas, which greatly attenuate these biases. Finally, we consider the data sources and methods used to compile them. Copyright 2004, International Monetary Fund

Suggested Citation

  • Jemma Dridi & Kimberly Zieschang, 2004. "Export and Import Price Indices," IMF Staff Papers, Palgrave Macmillan, vol. 51(1), pages 1-9.
    • Handle: RePEc:pal:imfstp:v:51:y:2004:i:1:p:9
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    Citations

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    Cited by:

    1. Masuda, Kazuto, 2021. "Trade Policy and the Marshall–Lerner Condition: Application of the Tobit Model," SocArXiv njzk3, Center for Open Science.
    2. Durevall, Dick & Loening, Josef L. & Ayalew Birru, Yohannes, 2013. "Inflation dynamics and food prices in Ethiopia," Journal of Development Economics, Elsevier, vol. 104(C), pages 89-106.
    3. Halil Kukaj & Artan Nimani, 2022. "The Causal Relationship Between Export, Import and Harmonized Consumer Price Index: Evidence from Kosovo," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, May.
    4. Loening, Josef L. & Durevall, Dick & Birru, Yohannes A., 2009. "Inflation dynamics and food prices in an agricultural economy : the case of Ethiopia," Policy Research Working Paper Series 4969, The World Bank.
    5. Ludwig von Auer & Alena Shumskikh, 2020. "Substitution Bias in the Measurement of Import and Export Price Indices: Causes and Correction," Research Papers in Economics 2020-10, University of Trier, Department of Economics.

    More about this item

    JEL classification:

    • C42 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Survey Methods
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

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