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Testing the Product Test

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The product test asks the product of a quantity index number and a price index number to equal the corresponding value change. The literature treats the product test as being so important that it is used to identify acceptable index number pairs, and to construct implicit index numbers when an otherwise desirable pair fails the test. We treat the product test as a hypothesis to be tested, and we provide an empirical application.

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  • H. Brea & E. Grifell-Tatje & C. A. K. Lovell, 2010. "Testing the Product Test," CEPA Working Papers Series WP072010, School of Economics, University of Queensland, Australia.
    • Handle: RePEc:qld:uqcepa:53
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    File URL: https://economics.uq.edu.au/files/5238/WP072010.pdf
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    1. V. Eldon Ball & Charles Hallahan & Richard Nehring, 2004. "Convergence of Productivity: An Analysis of the Catch-up Hypothesis within a Panel of States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(5), pages 1315-1321.
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    More about this item

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • 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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