Download or read book Price Level Measurement written by W.E. Diewert and published by Elsevier. This book was released on 2014-06-28 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Among the theoretical issues covered in this volume are the "economic" and the "axiomatic" or "test" approaches to the problem of constructing and choosing among alternative cost-of-living index formulas; "bounds" and "econometric" alternatives for developing empirically computable approximations of theoretically desirable indexes; recommendations concerning the incorporation of leisure time in measures of the cost-of-living; and the formulation of social and group cost-of-living indexes. The Jorgenson-Slesnick paper also presents a far-reaching empirical study of price changes in the U.S.The importance of this book to those with an interest in economic theory is obvious. However, this book also holds out the opportunity and challenge to applied researchers to gain a deeper understanding of the index numbers of which they make daily use.
Download or read book Price Index Concepts and Measurement written by W. Erwin Diewert and published by University of Chicago Press. This book was released on 2010-02-15 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the Cost-of-Living Index (COLI) and its controversial role as the methodological foundation for the Consumer Price Index (CPI). Price Index Concepts and Measurements brings together leading experts to address the many questions involved in conceptualizing and measuring inflation. They evaluate the accuracy of COLI, a Cost-of-Goods Index, and a variety of other methodological frameworks as the bases for consumer price construction.
Download or read book Toward a More Accurate Measure of the Cost of Living written by United States. Congress. Senate. Advisory Commission to Study the Consumer Price Index and published by . This book was released on 1996 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Level Measurement written by W. Erwin Diewert and published by . This book was released on 1990 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measuring the Aggregate Price Level written by Robert James Gordon and published by . This book was released on 1992 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inaccurate measures of the aggregate price level may distort short-run policy decisions and may produce misleading comparisons of productivity growth across decades and among nations. This paper serves a dual purpose of reviewing compactly the vast American literature on price and output measurement, and of identifying special aspects of American methods which affect international comparisons of inflation and output growth. The traditional problem of substitution bias in the Consumer Price Index (CPI) is of minor importance compared with the bias introduced by new products, changes in the quality of existing products, and outlet substitution bias. The quality bias for U.S. consumer durables has recently been estimated to be roughly 1.5 percent per year for the postwar period, and roughly 3 percent per year for consumer durables, The only available study of outlet substitution bias estimates a 2 percent annual rate for food in the 1980s. Cross-country differences in measurement methods tend to overstate the recent productivity performance of U.S. relative to European manufacturing, with an understatement for U.S. nonmanufacturing. Both European and U.S. manufacturing performance are probably understated relative to Japan, which seems to do the best job of incorporating new products and correcting for quality change of high tech goods.
Download or read book At What Price written by National Research Council and published by National Academies Press. This book was released on 2002-03-25 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: How well does the consumer price index (CPI) reflect the changes that people actually face in living costsâ€"from apples to computers to health care? Given how it is used, is it desirable to construct the CPI as a cost-of-living index (COLI)? With what level of accuracy is it possible to construct a single index that represents changes in the living costs of the nation's diverse population? At What Price? examines the foundations for consumer price indexes, comparing the conceptual and practical strengths, weaknesses, and limitations of traditional "fixed basket" and COLI approaches. The book delves into a range of complex issues, from how to deal with the changing quality of goods and services, including difficult-to-define medical services, to how to weight the expenditure patterns of different consumers. It sorts through the key attributes and underlying assumptions that define each index type in order to answer the question: Should a COLI framework be used in constructing the U.S. CPI? In answering this question, the book makes recommendations as to how the Bureau of Labor Statistics can continue to improve the accuracy and relevance of the CPI. With conclusions that could affect the amount of your next pay raise, At What Price? is important to everyone, and a must-read for policy makers, researchers, and employers.
Download or read book An Overview of the Papers on Price Level Measurement written by W. Erwin Diewert and published by . This book was released on 1983 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Export and Import Price Index Manual written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-12-17 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: A joint production by six international organizations, this manual explores the conceptual and theoretical issues that national statistical offices should consider in the daily compilation of export and import price indices. Intended for use by both developed and developing countries, it replaces guidance from the United Nations that is now more than a quarter-century old and thus badly outdated. The chapters cover many topics; they elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. Given its comprehensive nature, the manual is expected to satisfy the needs of many users in addition to national statistical offices and international organizations, particularly businesses, policymakers, and researchers.
Download or read book Consumer Price Index Manual written by International Labour Office and published by International Labour Organization. This book was released on 2004-08-25 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.
Download or read book Inflation written by Robert O'Neill and published by Springer. This book was released on 2017-11-06 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an introduction to the history of – and current measurement practice of – inflation for the United Kingdom. The authors describe the historical development of inflation measures in a global context, and do so without using formal mathematical language and related jargon that relates only to a few specialist scholars. Although inflation is a widely used and quoted statistic, and despite the important role inflation plays in real people’s lives – through pension uprating, train tickets, interest rates and the work of economists – few people understand how it is created. O’Neill, Ralph and Smith mix historical data with a description of practices inside the UK statistical system and abroad, which will aid understanding of how this important economic statistic is produced, and the important and controversial choices that statisticians have made over time.
Download or read book Producer Price Index Manual written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-09-03 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: The producer price index (PPI) measures the rate at which the prices of producer goods and services are changing overtime. It is a key statistic for economic and business decision making and inflation monitoring. The Producer Price Index Manual: Theory and Practice provides clear, up-to-date guidance on the concepts, uses, methods, and economic theory of the PPI, including information on classifications, sources, compilation techniques, and analytical uses of the PPI. The Manual supersedes the previous international guidance on PPIs (available in the Manual on Producers’ Price Indices for Industrial Goods, published by the United Nations Statistics Division in 1979). The Manual's conceptual framework derives from the System of National Accounts1993 and recent developments in index number theory. Preparation of the Manual was undertaken by the Intersecretariat Working Group on Price Statistics through a technical expert group chaired by the IMF and involving representatives from the ILO, the OECD, the UN Economic Commission for Europe, the World Bank, national statistical offices, and academic institutions.
Download or read book Price and Quantity Index Numbers written by Bert M. Balk and published by Cambridge University Press. This book was released on 2012-07-19 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first comprehensive text on index number theory since Irving Fisher's 1922 The Making of Index Numbers. The book covers intertemporal and interspatial comparisons; ratio- and difference-type measures; discrete and continuous time environments; and upper- and lower-level indices. Guided by economic insights, this book develops the instrumental or axiomatic approach.
Download or read book Measuring Economic Growth and Productivity written by Barbara Fraumeni and published by Academic Press. This book was released on 2019-11-08 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring Economic Growth and Productivity: Foundations, KLEMS Production Models, and Extensions presents new insights into the causes, mechanisms and results of growth in national and regional accounts. It demonstrates the versatility and usefulness of the KLEMS databases, which generate internationally comparable industry-level data on outputs, inputs and productivity. By rethinking economic development beyond existing measurements, the book's contributors align the measurement of growth and productivity to contemporary global challenges, addressing the need for measurements as well as the Gross Domestic Product. All contributors in this foundational volume are recognized experts in their fields, all inspired by the path-breaking research of Dale W. Jorgenson. Demonstrates how an approach based on sources of economic growth (KLEMS – capital, labor, energy, materials and services) can be used to analyze economic growth and productivity Includes examples covering the G7, E7, EU, Latin America, Norway, China, Taiwan, Japan, Korea, India and other South Asian countries Examines the effects of digital, information, communication and integrated technologies on national and regional economies
Download or read book Final Report of the Advisory Commission to Study the Consumer Price Index written by United States. Congress. Senate. Advisory Commission to Study the Consumer Price Index and published by DIANE Publishing. This book was released on 1997 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Medical Care Output and Productivity written by David M. Cutler and published by . This book was released on 2001 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the United States and other developed nations spending as much as 14 percent of their GDP on medical care, economists and policy analysts are asking what these countries are getting in return. Yet it remains frustrating and difficult to measure the productivity of the medical care service industries. This volume takes aim at that problem, while taking stock of where we are in our attempts to solve it.
Download or read book Price Measurements and Their Uses written by Murray F. Foss and published by University of Chicago Press. This book was released on 1993-08-15 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an economy characterized by frequent change in technology, in the types of goods and services purchased, and in the forms of business organization, keeping track of price change continues to pose many difficulties. Price change affects the way we perceive changes in such basic measures as real output, productivity, and living standards. This volume, which brings together academic economists with those responsible for official price indexes, presents outstanding new research on price measurement. Half of the papers focus on prices for mainframe and personal computers, semiconductors, and other high-tech products, using mainly hedonic techniques. The volume includes a panel discussion by distinguished economists about the theoretical and practical considerations of how best to measure price change of capital goods whose quality is changing rapidly. The authors also present new research on more conventional but still unsettled problems in the price field affecting both the consumer and producer price indexes of the Bureau of Labor Statistics.
Download or read book Consumer Price Index written by United States. General Accounting Office and published by . This book was released on 1997 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
