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The Impact of the Paasche-Laspeyres Choice upon Econometric Results

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  • Gandar, John
  • Loschky, David

Abstract

Does it make any difference to econometric results whether ones uses the Laspeyres or Paasche index? In general, the divergence between these two is small, suggesting that index choice makes little difference to econometric results. We estimate 72 Malthusian models and because the Paasche and Laspeyres indices we use show below average divergence, these results should be conservative. We find that parameters differ substantially, that parameter signs can be reversed, that r[squared]s change markedly and that hypothesis test results are reversed. These findings indicate the importance of estimating exact indices.

Suggested Citation

  • Gandar, John & Loschky, David, 1995. "The Impact of the Paasche-Laspeyres Choice upon Econometric Results," Empirical Economics, Springer, vol. 20(2), pages 265-269.
    • Handle: RePEc:spr:empeco:v:20:y:1995:i:2:p:265-69
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