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The high priority recommendations from the data report on the observance of standards and codes mission covered both general and sector-specific issues relating to the national accounts, consumer and producer price indices, government finance statistics, monetary statistics, and balance-of-payments statistics. Progress has been made in implementing the recommendation on data sharing and coordination among agencies. A high-level statistics producers committee has been established. Progress on quarterly national accounts data has been slow because of poor response rates to the surveys.
Botswana --- Economic conditions. --- Macroeconomics --- Price Level --- Inflation --- Deflation --- General Aggregative Models: General --- Producer price indexes --- National accounts --- Consumer price indexes --- Prices --- Price indexes --- National income
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This Technical Assistance Report discusses the findings and recommendations of the IMF mission regarding methodological soundness of all price indexes compiled by the authorities in Mauritius. The methodologies employed by Statistics Mauritius are sound and largely in line with the international guidelines and practices. All price indexes use similar aggregation methodologies and the same index compilation system. Statistics Mauritius is dependent on a consultant to maintain the compilation system. Over time it would be helpful for Statistics Mauritius to explore ways of improving the application of the Statistics Act to acquiring business survey data and administrative data from both government departments and private corporations to improve the coverage and quality of the statistics.
Macroeconomics --- Price Level --- Inflation --- Deflation --- General Aggregative Models: General --- Consumer price indexes --- Producer price indexes --- Price indexes --- National accounts --- Import price indexes --- Prices --- National income --- Mauritius
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The purpose of this paper is to show that, under the price fluctuations that characterize most transition economies, the commonly used chain index derived from the published month-to-month price change of the PPI in some cases dramatically overstates the rate of price inflation. The analysis is based in part on a seminal paper by Szulc, who studies the problem of drift for a wide class of index formulae, and in part on the observations of price movements made by the Fund’s missions. Greatest during the year 1992, the drift declines with slower rates of inflation and, possibly, with changing patterns of price increases, but is still important for countries such as Russia, where monthly inflation continues to run well into the double digits.
Data Access --- Deflation --- Index Numbers and Aggregation --- Inflation --- Leading indicators --- Macroeconomics --- Methodology for Collecting, Estimating, and Organizing Macroeconomic Data --- Price indexes --- Price Level --- Prices --- Producer price indexes --- Russian Federation
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This paper discusses the findings of a Technical Assistance Report on the Price Statistics Mission to Malawi. It was concluded that more than 80 percent of the country unit values selected as the price indicators for the macroprudential indicators did not provide credible indicators of pure price change over time. The compilation of the indexes could therefore not be undertaken until import and export price surveys had been initiated. Plans were developed for the conduct of an intensive program of field interviews to initialize the quarterly price collections. Training was provided on index concepts, compilation methodology, and price survey design and implementation.
Finance, Public --- Cameralistics --- Public finance --- Public finances --- Currency question --- Exports and Imports --- Macroeconomics --- Price Level --- Inflation --- Deflation --- Trade: General --- International economics --- Export prices --- Import prices --- Producer price indexes --- Consumer price indexes --- Imports --- Prices --- International trade --- Price indexes --- Exports --- Malawi
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This Technical Assistance Report on Suriname constitutes technical advice provided by the staff of the IMF to the authorities of Suriname in response to their request for technical assistance. The mission discussed issues concerning the consumer price index (CPI), the producer price index (PPI) and export price index (XPI). On the CPI, the mission reviewed current practices and provided some recommendations. The main recommendations are to switch from a Dutot to a Jevons index on the elementary aggregate level and to start publishing the CPI according to the Classification of Individual Consumption according to Purpose on a class level provided the number of items permits. On the planned PPI and XPI, the discussion focused on available data sources and next steps for developing a PPI for Suriname. Reliable price statistics are essential for informed economic policymaking by the authorities. They also provide the private sector, foreign investors, rating agencies, and the public in general with important inputs in their decision-making, while informing both domestic economic policy and IMF surveillance.
Macroeconomics --- Price Level --- Inflation --- Deflation --- Macroeconomics: Consumption --- Saving --- Wealth --- General Aggregative Models: General --- Consumer price indexes --- Producer price indexes --- Consumption --- Export price indexes --- National accounts --- Prices --- Price indexes --- Economics --- National income --- Suriname
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This Technical Assistance Report discusses the findings and recommendations made by the IMF mission to assist Georgia’s National Statistics Office (Geostat) in developing a residential property price index and expanding coverage of the producer price index (PPI). The mission found that Geostat compiles a monthly PPI for industrial products. It covers mining and quarrying; manufactured products; and electricity energy, gas, steam, and hot water. PPI coverage of the services sector is currently limited to freight transport, and should be expanded to include additional services. The improved coverage of the PPI will facilitate the assessment of developments in the production and prices of services and provide more reliable indicators to derive estimates of GDP in constant prices.
Infrastructure --- Macroeconomics --- Price Level --- Inflation --- Deflation --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- General Aggregative Models: General --- Producer price indexes --- National accounts --- Consumer price indexes --- Price indexes --- Prices --- Saving and investment --- National income --- Georgia
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Economic conditions. Economic development --- Organisation for Economic Co-operation and Development --- Wholesale price indexes --- 338.528 --- 306.113 --- 338.70 --- 380.20 --- AA / International- internationaal --- Indexcijfers 311.141 --- OESO / OCDE / OECD 339.92OECD --- Productie 338.3 --- Statistische gegevens 31 --- PPI (Producer price indexes) --- Producer price indexes --- Producers price indexes --- WPI (Wholesale price indexes) --- Indexcijfers van de groothandelsprijzen --- Industrieën : Algemeenheden. Structuur en evolutie van de industrie --- Prijstheorieën: algemeenheden --- Price indexes
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This paper describes the primary framework associating the four principal price indices in the system of economic statistics—the Producer Price Index (PPI), the Consumer Price Index (CPI), and the Export and Import Price Indices (XPI and MPI)—with the macroeconomic value aggregates they decompose into price and volume components. The paper begins by defining the basic algebra of price indices. It then discusses the definition of the value aggregates comprising the goods and services components of the System of National Accounts 1993 (1993 SNA). The paper concludes by briefly considering purchasing power parities and labor compensation indices.
Macroeconomics --- Index Numbers and Aggregation --- leading indicators --- Model Construction and Estimation --- Model Evaluation and Selection --- Price Level --- Inflation --- Deflation --- Macroeconomics: Consumption --- Saving --- Wealth --- General Aggregative Models: General --- Consumption --- National accounts --- Price indexes --- Consumer price indexes --- Producer price indexes --- Prices --- Economics --- National income --- Australia --- Leading indicators
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Since late 1991, the IMF Statistics Department has conducted a program of technical assistance on consumer and producer price measurement and index compilation for the countries that have emerged from the former Soviet Union. These are countries whose economies are in various states of transition from centrally planned to market organization, and face special difficulties in developing price indices meeting international methodological guidelines for use in setting and monitoring the progress of macroeconomic policy. This paper describes and summarizes the findings of this technical assistance work with transition economies over the past four years, and the methodology developed by Fund experts to adapt international guidelines to the prevailing economic conditions. The paper catalogs the measurement problems and issues for compiling consumer and producer price indices in the transition context, and also comments on the use of these price series in compiling constant price national accounts.
Consumer price indexes --- Deflation --- General Aggregative Models: General --- Index Numbers and Aggregation --- Inflation --- Leading indicators --- Macroeconomics --- Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) --- National accounts --- National income --- Price indexes --- Price Level --- Prices --- Producer price indexes --- Russian Federation
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As Russia’s transition unfolds, the traditional national accounts concepts and reporting mechanisms become increasingly inadequate. As a result, the margin of error associated with basic price and quantity estimates widens substantially. A selection of key measurement and interpretation issues is discussed here, in operational rather than in methodological terms.
Inflation --- Macroeconomics --- Studies of Particular Policy Episodes --- Socialist Systems and Transitional Economies: General --- Socialist Systems and Transitional Economies: Prices --- Socialist Systems and Transitional Economies: National Income, Product, and Expenditure --- Money --- Socialist Systems and Transitional Economies: Performance and Prospects --- Price Level --- Deflation --- General Aggregative Models: General --- Consumer price indexes --- National accounts --- Producer price indexes --- Prices --- Price indexes --- National income --- Russian Federation
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