Measurement of Inflation: Another Stochastic Approach

Michal Andrle

Macroeconomics from EconWPA

Abstract: In this paper, we present an alternative approach to inflation and inflation measurement based on Menger’s theory of inner exchange value of money and on the stochastic approach to index numbers. We briefly describe the characteristics of the sample cross-section distribution of price changes. We propose a measure of inflation based on Törnqvist price index adjusted by the (a)symmetric trimmed means.

Keywords: inflation; stochastic; index; number; Tornqvist (search for similar items in EconPapers)
JEL-codes: E31 C43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm, nep-mac and nep-mon
Date: Written 2003-06-19
Note: Type of Document - Tex; prepared on IBM PC - PC-TEX; to print on HP; pages: 38; figures: included

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http://129.3.20.41/eps/mac/papers/0306/0306014.pdf (application/pdf)

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