Post-Laspeyres : the case for a new formula for compiling consumer price indexes /

Post-Laspeyres : the case for a new formula for compiling consumer price indexes /

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Bibliographic Details
Author / Creator:Armknecht, Paul A., 1945- author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2012.
Description:1 online resource (28 pages) : illustrations
Language:English
Series:IMF working paper ; WP/12/105
IMF working paper ; WP/12/105.
Subject:
Consumer price indexes -- Econometric models.
Consumer price indexes -- Econometric models.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12500205
Hidden Bibliographic Details
Other authors / contributors:Silver, M. S., author.
International Monetary Fund. Statistics Department, issuing body.
ISBN:9781475515572
147551557X
Notes:At head of title: Statistics.
Title from PDF title page (IMF Web site, viewed April 26, 2012).
"April 2012."
Includes bibliographical references.
Summary:Consumer price indexes (CPIs) are compiled at the higher (weighted) level using Laspeyres-type arithmetic averages. This paper questions the suitability of such formulas and considers two counterpart alternatives that use geometric averaging, the Geometric Young and the (price-updated) Geometric Lowe. The paper provides a formal decomposition and understanding of the differences between the two. Empirical results are provided using United States CPI data. The findings lead to an advocacy of variants of a hybrid formula suggested by Lent and Dorfman (2009) that substantially reduces bias from Laspeyres-type indexes.
Other form:Print version: Armknecht, Paul A. Post-Laspeyres: The Case for a New Formula for Compiling Consumer Price Indexes. Washington : International Monetary Fund, ©2012 9781475502954

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