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...

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...

This paper considers the problem how to make real income comparisons between more than two countries or across more than two years. First, four basic requirements are formulated that we think a sensible way of comparing should satisfy. The Apples and Oranges theorem then shows that no method for...