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Fixed And Chain Base Index Numbers

In: Index Numbers

Author

Listed:
  • E. A. Selvanathan

    (Griffith University)

  • D. S. Prasada Rao

    (University of New England)

Abstract

Fixed and chain base index numbers and their relative merits have been considered extensively in the literature. In all countries national accountants produce estimates of gross domestic product and its components at current prices and constant prices over lengthy time periods. Thus it is necessary to select index number formulae suitable for purposes of temporal comparisons involving long time series data on prices and quantities. Since the economic time series, at constant prices, are usually calculated with a particular year as the base period the choice of the methodology to arrive at such series is crucial. Two methodologies are available for this purposes. First, one may opt to compare each year with the base year using any of the formulae listed in Chapter 2. The second option is to arrive at a comparison between the current and base period through a series of link comparisons, each link comparison providing an index for a given year with the preceding year as the base. The former methodology leads to the idea of fixed base index numbers, where as the latter results in chain base index numbers.

Suggested Citation

  • E. A. Selvanathan & D. S. Prasada Rao, 1994. "Fixed And Chain Base Index Numbers," Palgrave Macmillan Books, in: Index Numbers, chapter 0, pages 111-139, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23594-0_5
    DOI: 10.1007/978-1-349-23594-0_5
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    1. Zorana Zoran Stanković & Milena Nebojsa Rajic & Zorana Božić & Peđa Milosavljević & Ancuța Păcurar & Cristina Borzan & Răzvan Păcurar & Emilia Sabău, 2024. "The Volatility Dynamics of Prices in the European Power Markets during the COVID-19 Pandemic Period," Sustainability, MDPI, vol. 16(6), pages 1-16, March.

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