Price and Volume Measures in the System of National Accounts

Walter Diewert

No 5103, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The paper is an extensive review of chapter 16 in the System of National Accounts, 1993 written by Peter Hill. The basic principles for measuring price and quantity change in the National Accounts are explained. The paper also presents some new material on the consistency of superlative indexes with indexes which are additive in their components. Some new material on the treatment of quality change is also presented which indicates that traditional Statistical Agency treatments of this issue will lead to upward bias in price indexes. The literature on sources of bias in consumer price indexes is also reviewed.

JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 1995-05
Note: PR
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Citations: View citations in EconPapers (9)

Published as Kendrick, John W. (ed.) The new system of national accounts, Recent Economic Thought Series. Boston; Dordrecht and London: Kluwer Academic, 1996.

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