Understanding the space–time (in)consistency of the national accounts

Nicholas Oulton

Economics Letters, 2015, vol. 132, issue C, 21-23

Abstract: Space–time consistency means that an earlier PPP, updated by relative inflation rates, equals a more recent PPP. I show that in the absence of data errors Divisia price indices are space–time consistent provided that the consumer’s utility function is homothetic.

Keywords: PPP; Divisia; Price index; Path-dependence; Consistency (search for similar items in EconPapers)
JEL-codes: C43 I31 O47 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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Working Paper: Understanding the space–time (in)consistency of the national accounts (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:132:y:2015:i:c:p:21-23

DOI: 10.1016/j.econlet.2015.04.009

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