 Das Ideal des „reinen Preisvergleichs“ / The Principle of "Pure Price Comparison“Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2005, vol. 225, issue 4, 499-509 Abstract: Enthusiasm for the “Economic Theory of Index Numbers” seems to ebb due to its inherent operational problems of index compilation. The alternative concept of inflation measurement is known as “cost-of-good” or “(fixed) basket approach”. Though more convenient in practice it may have a less impressive theoretical underpinning. It is not uncommon even to call its rationale in question altogether. This paper attempts to justify the basket approach and to specify “pure comparison” in operational terms. In essence this requires a focus on a time series of indices (as opposed to comparing two adjacent periods in isolation), and the interpretation of the index formula in terms of expenditures. Keywords: Index theory; Laspeyres price index formula; cost of living index; fixed basket approach; comparability; chain indices; superlative indices; Indextheorie; Preisindexformel nach Laspeyres; Lebenshaltungskostenindex; ökonomische Theorie der Indexzahlen; konstanter Warenkorb; Vergleichbarkeit in der Statistik; superlative Indizes (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:225:y:2005:i:4:p:499-509 Access Statistics for this article Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik) is currently edited by Peter Winker More articles in Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik) from De Gruyter |
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