Measuring Standard Error of Inflation in Pakistan: A Stochastic Approach

Javed Iqbal and Muhammad Hanif

MPRA Paper from University Library of Munich, Germany

Abstract: Stochastic approach to index number (and its change) has recently attracted renewed attention of researchers as it provides the standard error of index number (and its change). One of the most important uses of index number is in the case of measurement of the general price level in an economy (and then inflation of course). In this study we estimate standard errors of month on month and year on year inflation in Pakistan under stochastic approach, following Clement and Izan (1987). We contribute in this study by providing mechanism and estimating the standard error of period average of YoY inflation and apply this to Pakistan data.

Keywords: Inflation; Pakistan (search for similar items in EconPapers)
JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 2010-12-31
New Economics Papers: this item is included in nep-cwa and nep-mon
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https://mpra.ub.uni-muenchen.de/36132/3/MPRA_paper_36132.pdf revised version (application/pdf)

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