The fixed basket multilateral Walsh index for international price and real expenditure comparisons

Naohito Abe and D.S. Prasada Rao ()

Economics Letters, 2022, vol. 220, issue C

Abstract: The multilateral Walsh index is the only symmetric average fixed basket price index that satisfies transitivity, country symmetry, and invariance to proportional changes in quantities. Superior axiomatic properties and empirical results demonstrate suitability of the index for international price comparisons.

Keywords: Price comparisons; Transitivity; Proportionality; Real expenditures (search for similar items in EconPapers)
JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:220:y:2022:i:c:s0165176522003317

DOI: 10.1016/j.econlet.2022.110857

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