A new proposal for the construction of a multi-period/multilateral price index

Consuelo Nava (), Antonio Pesce () and Maria Zoia
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Antonio Pesce: Dipartimento di Politica Economica, DISCE, Università Cattolica del Sacro Cuore

No dipe0007, DISCE - Working Papers del Dipartimento di Politica Economica from Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE)

Abstract: Price indexes in time and space is a most relevant topic in statistical analysis from both the methodological and the application side. In this paper a price index providing a novel and effective solution to price indexes over several periods and among several countries, that is in both a multi-period and a multilateral framework, is devised. The reference basket of the devised index is the union of the intersections of the baskets of all periods/countries in pairs. As such, it provides a broader coverage than usual indexes. Index closed-form expressions and updating formulas are provided and properties investigated. Last, applications with real and simulated data provide evidence of the performance of the index at stake.

Keywords: multi-period price index; multilateral price index; stochastic approach; updating process; OLS (search for similar items in EconPapers)
JEL-codes: C01 C43 E31 (search for similar items in EconPapers)
Pages: 35
Date: 2019-10
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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