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An Index Number Formula Problem : The Aggregation of Broadly Comparable items

Silver, Mick S. - 2009

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 … as to why such formulas differ and proposes a solution to this index number problem …

Persistent link: https://www.econbiz.de/10014404313

COVID-19 and the CPI : is inflation underestimated?

Reinsdorf, Marshall B. - 2020

COVID-19 changed consumers' spending patterns, making the CPI weights suddenly obsolete. In most regions, adjusting the CPI weights to account for the changes in spending patterns increases the estimate of inflation over the early months of the pandemic. Under-weighting of rising food prices and...

Persistent link: https://www.econbiz.de/10012392420

Measuring Competitiveness

Neary, J. Peter - 2006

measures inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real …

Persistent link: https://www.econbiz.de/10014400395

Whose Inflation? : A Characterization of the CPI Plutocratic Bias

Ley, Eduardo - 2001

standard CPI and a democratically weighed index (i.e., the plutocratic bias) as the product of average income, income …

Persistent link: https://www.econbiz.de/10014400882

Why Elementary Price Index Number Formulas Differ : Price Dispersion and Product Heterogeneity

Silver, Mick S. - 2006

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 …

Persistent link: https://www.econbiz.de/10014402245

Modeling Stochastic Volatility with Application to Stock Returns

Krichene, Noureddine - 2003

A stochastic volatility model where volatility was driven solely by a latent variable called news was estimated for three stock indices. A Markov chain Monte Carlo algorithm was used for estimating Bayesian parameters and filtering volatilities. Volatility persistence being close to one was...

Persistent link: https://www.econbiz.de/10014400143

Responses of the Stock Market to Macroeconomic Announcements Across Economic States

Hu, Frederick Zu-liu - 1998

Index, the S&P 500 index, the Russell 1000 index, and the Russell 2000 index to examine stock market reactions to a broad …

Persistent link: https://www.econbiz.de/10014401312

Index Number Biases During Price Liberalization

Osband, Kent - 1991

When a formerly centrally-planned economy frees prices and allows or compels producers to respond to market signals, conventional measures tend to severely overstate short–run output decline and inflation. In part the overstatement stems from neglect of private sector activity, or from belated...

Persistent link: https://www.econbiz.de/10014398096

Corruption, Public Investment, and Growth

Tanzi, Vito - 1997

Corruption, particularly political or “grand” corruption, distorts the entire decision-making process connected with public investment projects. The degree of distortions is higher with weaker auditing institutions. The evidence presented shows that higher corruption is associated with (i)...

Persistent link: https://www.econbiz.de/10014401205

A New Index of Currency Mismatch and Systemic Risk

Rancière, Romain - 2010

This paper constructs a new measure of currency mismatch in the banking sector that controls for bank lending to unhedged borrowers. This measure explicitly takes into account the indirect exchange rate risk that banks undertake when they lend to borrowers that will not be able to repay in the...

Persistent link: https://www.econbiz.de/10014402704