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Small-change Computations of Price and Quantity Indices

Author

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  • Mark Horridge

Abstract

This document compares several methods of computing price and quantity indices, with special reference to the small-change computations used by GEMPACK. It also discusses the problem of 'path-dependence' that might arise when using change equations which have no corresponding levels form. Accompanying worked examples, using Excel and GEMPACK, can be downloaded from item TPMH0049 in the CoPS archive .

Suggested Citation

  • Mark Horridge, 2003. "Small-change Computations of Price and Quantity Indices," Centre of Policy Studies/IMPACT Centre Working Papers c13, Victoria University, Centre of Policy Studies/IMPACT Centre.
    • Handle: RePEc:cop:wpaper:c13
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    References listed on IDEAS

    as
    1. R. D. Rossiter, 2000. "Fisher Ideal Indexes in the National Income and Product Accounts," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(4), pages 363-373, December.
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    More about this item

    Keywords

    Price Index; Quantity Index; Divisia; Path Dependence;
    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
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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