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The Price-Level Computation Method

Sydney Afriat (afriat@unisi.it) and Carlo Milana

Department of Economics University of Siena from Department of Economics, University of Siena

Abstract: It has been submitted that, for the very large number of different traditional type formulae to determine price indices associated with a pair of periods, which are joined with the longstanding question of which one to choose, they should all be abandoned. For the method proposed instead, price levels associated with periods are first all computed together, subject to a consistency of the data, and then price indices that are as taken together true are determined from their ratios. An approximation method can apply in the case of inconsistency. Here is an account of the mathematics of the method

Keywords: inflation; index-number problem; non-parametric; price index; price level; revealed preference (search for similar items in EconPapers)
JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 2007-04
New Economics Papers: this item is included in nep-cba and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:usi:wpaper:499

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