Price Statistics as a System

Constantin Anghelache, Gabriela Victoria Anghelache, Mihai Gheorghe, Ioan Partachi and Sanda Nan
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Constantin Anghelache: “Artifex” University of Bucharest
Gabriela Victoria Anghelache: Academy of Economic Studies, Bucharest
Mihai Gheorghe: National Institute of Statistics, Romania
Ioan Partachi: Academy of Economic Studies of Moldavia, Chisinau
Sanda Nan: Academy of Economic Studies, Bucharest

Romanian Statistical Review Supplement, 2012, vol. 60, issue 1, 9-14

Abstract: A price index may be characterized as the factor giving the relative change in this value aggregate arising from changes in prices. As such, all the major price index formulae can be expressed as weighted averages of price relatives whose weights are the shares of items in the value aggregate. For the best-known price index formulae expressed as value aggregates of share-weighted averages of price relatives, we have the Laspeyres index. the Paasche index, and the Walsh and Tornqvist indices. As the geometric mean of the Laspeyres and Paasche indices, the Fisher ideal index is also a function of expenditure shares derived directly from the value aggregate.

Keywords: index; price; domain of goods and services; policy; monetary (search for similar items in EconPapers)
Date: 2012
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