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|z 9781475502954
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|a 1018-5941
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|a Armknecht Jr., Paul.
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|a Post-Laspeyres :
|b The Case for a New Formula for Compiling Consumer Price Indexes /
|c Paul Armknecht Jr., Mick Silver.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (28 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Consumer price indexes (CPIs) are compiled at the higher (weighted) level using Laspeyres-type arithmetic averages. This paper questions the suitability of such formulas and considers two counterpart alternatives that use geometric averaging, the Geometric Young and the (price-updated) Geometric Lowe. The paper provides a formal decomposition and understanding of the differences between the two. Empirical results are provided using United States CPI data. The findings lead to an advocacy of variants of a hybrid formula suggested by Lent and Dorfman (2009) that substantially reduces bias from Laspeyres-type indexes.
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|a Mode of access: Internet
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|a Silver, Mick.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/105
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/105/001.2012.issue-105-en.xml
|z IMF e-Library
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