Have a personal or library account? Click to login

The Geometric Young Formula for Elementary Aggregate Producer Price Indexes

Journal of Official Statistics
Volume 38 (2022): Issue 1 (March 2022)
By:
Open Access
|Mar 2022

References

  1. Archibald, R.B. 1977. “On the Theory of Industrial Price Measurement: Output Price Indexes.” In Annals of Economic and Social Measurement Vol. 6, edited by S.V. Berg. (pp. 57–72). Cambridge: National Bureau of Economic Research. Available at: http://www.nber.org/chapters/c10502 (accessed October 2018).
    Search in Google ScholarBack to article
  2. Boskin, M.J., E.R. Dulberger, R.J. Gordon, Z. Griliches, D. Jorgenson. 1996. “Toward a more accurate measure of the cost of living: Final Report to the U.S. Senate Finance Committee.” In U.S. Senate Finance Committee. Senate Print 104–72, December, 104th Congress, 2nd Session. Washington, DC: GPO.
    Search in Google ScholarBack to article
  3. Carruthers, A.G., D.J. Sellwood, and P.W. Ward. 1980. “Recent Developments in the Retail Prices Index.” The Statistician 29(1): 1–32. DOI: https://doi.org/10.2307/2987492.10.2307/2987492
    Search in Google ScholarBack to article
  4. Caves, D.W., L.R. Christensen, and W.E. Diewert. 1982. “The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity.” Econometrica 50(6): 1393–1414. DOI: https://doi.org/0012-9682(198211)50:62.0.CO;2-S.10.2307/1913388
    Search in Google ScholarBack to article
  5. Dalén, J. 1992. “Computing Elementary Aggregates in the Swedish Consumer Price Index.” Journal of Official Statistics 8(2): 129–147. Available at: https://www.scb.se/-contentassets/ca21efb41fee47d293bbee5bf7be7fb3/computing-elementary-aggregates-in-the-swedish-consumer-price-index.pdf (accessed January 2022).
    Search in Google ScholarBack to article
  6. Diewert, W.E. 1983. “The Theory of the Output Price Index and the Measurement of Real Output Change.” In Price Level Measurement, edited by W.E. Diewert and C. Montmarquette Diewert. 1049–1113. Ottawa: Statistics Canada.
    Search in Google ScholarBack to article
  7. Fisher, F.M., and K. Shell. 1972. “The Pure Theory of the National Output Deflator.” In The Economic Theory of Price Indexes, edited by F.M. Fisher and K. Shell. 49–113. New York: Academic Press.10.1016/B978-0-12-257750-5.50008-7
    Search in Google ScholarBack to article
  8. International Monetary Fund. 2004. In Producer Price Index Manual: Theory and Practice, edited by P. Armknecht. Washington, DC: IMF/ILO/OECD/Eurostat/UNECE/World Bank. Available at: https://www.imf.org/external/pubs/ft/ppi/2010/manual/ppi.pdf (accessed March 2019).
    Search in Google ScholarBack to article
  9. Martin, R.S. 2020. Revisiting Taste Change in Cost-of-Living Measurement. Working Paper 515, Washington, DC: U.S. Bureau of Labor Statistics. Available at: https://www.bls.gov/osmr/research-papers/2019/ec190050.htm (accessed May 2020)
    Search in Google ScholarBack to article
  10. McClelland, R. 1996. Evaluating Formula Bias in Various Indexes Using Simulations. Working Paper 289, Washington, DC: U.S. Bureau of Labor Statistics. Available at: https://www.bls.gov/osmr/research-papers/1996/ec960140.htm (accessed May 2020).
    Search in Google ScholarBack to article
  11. OECD, Organisation for Economic Co-operation and Development. 2011. Producer Price Indices – Comparative Methodological Analysis. Paris: Organisation for Economic Co-operation and Development. Available at: http://www.oecd.org/sdd/prices-ppp/48370389.pdf (accessed January 2018).
    Search in Google ScholarBack to article
  12. Reinsdorf, M.B. 1998. “Formula Bias and Within-Stratum Substitution Bias in the U.S. CPI.” The Review of Economics and Statistics (MIT Press) 80(2): 175–187. DOI: https://doi.org/10.1162/003465398557375.10.1162/003465398557375
    Search in Google ScholarBack to article
  13. Reinsdorf, M.B., and B.R. Moulton. 1996. “The Construction of Basic Components of Cost-of-Living Indexes.” In The Economics of New Goods, 397–436. University of Chicago Press. Available at: http://www.nber.org/chapters/c6073 (accessed May 2020).
    Search in Google ScholarBack to article
  14. U.S. Bureau of Labor Statistics. 2015. “Chapter 14: Producer Prices.” In Handbook of Methods. Washington D.C.: U.S. Bureau of Labor Statistics. Available at: https://www.bls.gov/opub/hom/pdf/ppi-20111028.pdf (accessed March 2019).
    Search in Google ScholarBack to article
  15. U.S. Bureau of Labor Statistics. 2019. “Chapter 17: The Consumer Price Index.” In Handbook of Methods. Washington, DC: Bureau of Labor Statistics. Accessed August 14, 2019. https://www.bls.gov/opub/hom/pdf/cpihom.pdf (accessed August 2019)..
    Search in Google ScholarBack to article
  16. Waehrer, K. 2000. A Comparison of the Substitution Effects for Input and Output Price Indexes. Working Paper 327, Washington, DC: Bureau of Labor Statistics. Available at: https://www.bls.gov/osmr/research-papers/2000/ec000020.htm (accessed July 2019).
    Search in Google ScholarBack to article
  17. Weinhagen, J. 2020. “Measuring the substitution effect in Producer Price Index goods data: 2002–2016.” Monthly Labor Review. Available at: https://www.bls.gov/opub/mlr/2020/article/measuring-the-substitution-effect-in-ppi-data.htm (accessed July 2020).10.21916/mlr.2020.16
    Search in Google ScholarBack to article
DOI: https://doi.org/10.2478/jos-2022-0011 | Journal eISSN: 2001-7367
Journal RSS Feed
Language: English
Page range: 239 - 253
Submitted on: May 1, 2020
Accepted on: Apr 1, 2021
Published on: Mar 29, 2022
Published by: Sciendo
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year
Keywords:
Inflation,
Aggregation,
geometric Young index,
Jevons index
Related subjects:
Mathematics,
Probability and statistics

© 2022 Robert S. Martin, Andy Sadler, Sara Stanley, William Thompson, Jonathan Weinhagen, published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Previous articleVolume 38 (2022): Issue 1 (March 2022)Next article