Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Index number theory informs us that if data on matched prices and quantities are available, a superlative index number formula is best to aggregate heterogeneous items, and a unit value index to aggregate homogeneous ones. The formulas can give very different results. Neglected is the practical case of broadly comparable items. This paper provides a formal analysis as to why such formulas differ and proposes a solution to this index number problem.

Business & Economics --- Economic Theory --- Index numbers (Economics) --- Economic indicators. --- Business indicators --- Economic indicators --- Indicators, Business --- Indicators, Economic --- Leading indicators --- Numbers, Index --- Economic history --- Quality of life --- Economic forecasting --- Social indicators --- Economics --- Prices --- Indexation (Economics) --- Macroeconomics --- Index Numbers and Aggregation --- leading indicators --- Methodology for Collecting, Estimating, and Organizing Microeconomic Data --- Price Level --- Inflation --- Deflation --- Production, Pricing, and Market Structure --- Size Distribution of Firms --- Information and Product Quality --- Standardization and Compatibility --- Price indexes --- Export price indexes

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Unit value export and import indices compiled from returns to customs authorities are often used as surrogates for price indices in the measurement of inflation transmission, terms of trade (effects), and to deflate import and export value series to derive volume series. Their widespread use is mainly due to their relatively low cost compared with establishment price surveys. This paper provides evidence of substantial bias in their representation of such price changes. Their continued use would mislead economic analysis. The paper considers the efficacy of alternative strategies for their improvement, and argues for a move to establishment-based price surveys.

Exports and Imports --- Macroeconomics --- Price Level --- Inflation --- Deflation --- Trade: General --- Empirical Studies of Trade --- International economics --- Price indexes --- Exports --- Imports --- Import price indexes --- Terms of trade --- Economic policy --- nternational cooperation --- Germany --- Price indexes. --- Terms of trade. --- Nternational cooperation

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The IMF’s main uses of the International Comparison Program’s (ICP) estimates of purchasing power parity (PPP)-adjusted Gross Domestic Product (GDP) are as an element of the formula used to help guide decisions on its members’ quotas and in the World Economic Outlook (WEO). The paper outlines these uses and considers measurement issues particularly salient to IMF usage including: PPP imputations for member countries not participating in the ICP; PPP estimates for non-benchmark years; timeliness and periodicity of PPP estimates; economy groupings; and transparency. The paper was written as a chapter on ?IMF uses of PPPs? for the 2011 ICP Handbook.

Foreign exchange --- Purchasing power parity. --- Mathematical models. --- Law of one price --- One price, Law of --- Parity, Purchasing power --- Foreign Exchange --- Public Finance --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- National Government Expenditures and Related Policies: General --- Currency --- Public finance & taxation --- Purchasing power parity --- Public investment and public-private partnerships (PPP) --- Market exchange rates --- Exchange rates --- Expenditure --- Public-private sector cooperation --- Expenditures, Public --- United States

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Commercial statistics.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The Consumer Price Index Manual (2004) provides guidelines for aggregation formulas that are promulgated at IMF training courses and technical assistance missions. This paper develops elementary level aggregation theory to better inform users and compilers. Most countries use either the Dutot or Jevons index formula. These formulas generally give different results; advice on choice of formula matters. Using an approach based on sample estimators, and an illustration based on scanner data, the paper shows how differences in these formulas can be explained by changes in price dispersion and, in turn, by product heterogeneity. Implications for choice of formula are considered.

Consumer price indexes. --- Electronic books. -- local. --- Price indexes. --- Business & Economics --- Economic Theory --- Price indices --- Consumer price index --- Cost of living indexes --- CPIs (Consumer price indexes) --- Retail price indexes --- Index numbers (Economics) --- Cost and standard of living --- Price indexes --- Macroeconomics --- Public Finance --- Demography --- Price Level --- Inflation --- Deflation --- Demographic Economics: General --- Labor Economics: General --- National Government Expenditures and Related Policies: General --- Population & demography --- Labour --- income economics --- Public finance & taxation --- Consumer price indexes --- Population and demographics --- Labor --- Expenditure --- Population --- Labor economics --- Expenditures, Public --- United Kingdom --- Income economics