The Measurement of Inflation
A Stochastic Approach
Bibliographic Data
| ID | 19420102 |
|---|---|
| Authors | Kenneth W Clements (0000-0002-7776-0724, The University of Western Australia), H Y Izan (The University of Western Australia) |
| Year | 1987 |
| Volume | 5 |
| Issue | 3 |
| Pages | 339-350 |
| Publication date | 1987-07-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Business and Economic Statistics (JOURNAL) |
| Journal identifiers | ISSN: 0735-0015 • E-ISSN: 1537-2707 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/07350015.1987.10509598 |
| OpenAlex | W1989282550 |
| Language | EN |
| Citations received | 5 |
| References cited | 11 |
The stochastic approach to index number theory views each commodity price change as an independent observation on the underlying rate of inflation so that inflation can be estimated by averaging over all the prices. This article extends the approach by (a) allowing for sustained changes in relative prices, (b) showing the link with Divisia index numbers, and (c) deriving standard errors for the inflation estimates. The results are illustrated with Australian data
Commodity · Divisia index · Econometrics · Economics · Keynesian economics · Macroeconomics · Price index · Price level · Producer price index · Relative price · Statistics · Computer Science · Mathematics · Monetary Policy and Economic Impact
Generalized Theil-Tornqvist Indices with Applications to International Comparisons of Prices and Real Output
A Note on the Stochastic Approach to Index Numbers
Computation of Standard Errors for Geary–Khamis Parities and international Prices
Variance Estimation for Price Indexes From a Two-Stage Sample With Rotating Panels
Probability and Depreciation
A Superpopulation Theory Approach to the Design of Price Index Estimators With Small Sampling Biases
A New Approach to the Construction of Index Numbers
A Comment on the Sampling Aspects in the Construction of Index Numbers
Theory and measurement of consumer demand
Introduction to the Theory of Statistics
The Theory and Measurement of Consumer Demand
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,14 |
| Citation span | 1989 - 1995 (7) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 4 |