The Generalized Unit Value Index

Ludwig von Auer

No 2011-12, Research Papers in Economics from University of Trier, Department of Economics

Abstract: The inflation rate is normally computed as a weighted average of individual price changes. Alternatively, this rate could be evaluated by comparing average price levels. Unfortunately, this methodology has received limited attention in past research. This study attempts to remedy this situation by introducing a group of Generalized Unit Value indices that evaluate price level changes. The group includes some well-known (Laspeyres, Paasche, Banerjee), hardly known (Lehr, Davies), and previously unknown price indices. An assessment of their axiomatic properties is presented.

Keywords: Index Theory; Inflation; Unit Value; Measurement (search for similar items in EconPapers)
JEL-codes: C43 E31 E52 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2011
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:trr:wpaper:201112

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