Vor Ort
Merkzettel Warenkorb
Produktbild: A Practical Introduction to Index Numbers

A Practical Introduction to Index Numbers

49,99 €

inkl. gesetzl. MwSt., Versandkostenfrei

Beschreibung

Produktdetails

Einband

Taschenbuch

Erscheinungsdatum

24.08.2015

Verlag

John Wiley & Sons Inc

Seitenzahl

232

Maße (L/B/H)

22,6/15/1,3 cm

Gewicht

304 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-118-97781-1

Beschreibung

Produktdetails

Einband

Taschenbuch

Erscheinungsdatum

24.08.2015

Verlag

John Wiley & Sons Inc

Seitenzahl

232

Maße (L/B/H)

22,6/15/1,3 cm

Gewicht

304 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-118-97781-1

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: gpsr@libri.de

Kundinnen und Kunden meinen

0 Bewertungen

Informationen zu Bewertungen

Zur Abgabe einer Bewertung ist eine Anmeldung im Konto notwendig. Die Authentizität der Bewertungen wird von uns nicht überprüft. Wir behalten uns vor, Bewertungstexte, die unseren Richtlinien widersprechen, entsprechend zu kürzen oder zu löschen.

Die Bewertungen sind nach Format, Anzahl Sterne und Datum sortiert.

Verfassen Sie die erste Bewertung zu diesem Artikel

Helfen Sie anderen Kund*innen durch Ihre Meinung

Kundinnen und Kunden meinen

0 Bewertungen filtern
Die Leseprobe wird geladen.
  • Produktbild: A Practical Introduction to Index Numbers
  • Preface xi

    Acknowledgements xv

    1 Introduction 1

    1.1 What is an index number? 1

    1.2 Example - the Consumer Prices Index 2

    1.3 Example - FTSE 100 5

    1.4 Example - Multidimensional Poverty Index 6

    1.5 Example - Gender Inequality Index 6

    1.6 Representing the world with index numbers 7

    1.7 Chapter summary 8

    References 8

    2 Index numbers and change 9

    2.1 Calculating an index series from a data series 9

    2.2 Calculating percentage change 11

    2.3 Comparing data series with index numbers 13

    2.4 Converting from an index series to a data series 14

    2.5 Chapter summary 16

    Exercise A 17

    3 Measuring inflation 19

    3.1 What is inflation? 19

    3.2 What are inflation measures used for and why are they important? 20

    3.2.1 Determination of monetary policy by a central bank 21

    3.2.2 Changing of provisions for private pensions 21

    3.2.3 Changes in amounts paid over long-term contracts 21

    3.2.4 Changes in rail fares and other goods 22

    3.2.5 Evaluating investment decisions 22

    3.2.6 Inputs to economic research and analysis 23

    3.2.7 Index-linked debt 23

    3.2.8 Tax allowances 23

    3.2.9 Targets for stability of the economy in an international context 23

    3.3 Chapter summary 24

    References 24

    Exercise B 25

    4 Introducing price and quantity 27

    4.1 Measuring price change 27

    4.2 Simple, un-weighted indices for price change 30

    4.2.1 Simple price indices 30

    4.2.2 Simple quantity indices 33

    4.3 Price, quantity and value 34

    4.4 Example - Retail Sales Index 35

    4.5 Chapter summary 36

    Exercise C 37

    5 Laspeyres and Paasche indices 39

    5.1 The Laspeyres price index 40

    5.2 The Paasche price index 41

    5.3 Laspeyres and Paasche quantity indices 43

    5.4 Laspeyres and Paasche: mind your Ps and Qs 45

    5.4.1 Laspeyres price index as a weighted sum of price relatives 45

    5.4.2 Laspeyres quantity index as a weighted sum of quantity relatives 46

    5.4.3 Paasche price index as a weighted harmonic mean of price relatives 46

    5.4.4 Paasche quantity index as a weighted harmonic mean of quantity relatives 46

    5.5 Laspeyres, Paasche and the Index Number Problem 48

    5.6 Laspeyres or Paasche? 49

    5.7 A more practical alternative to a Laspeyres price index? 51

    5.8 Chapter summary 51

    References 52

    Exercise D 53

    6 Domains and aggregation 55

    6.1 Defining domains 55

    6.2 Indices for domains 57

    6.3 Aggregating domains 58

    6.4 More complex aggregation structures 62

    6.5 A note on aggregation structures in practice 62

    6.6 Non-consistency in aggregation 63

    6.7 Chapter summary 63

    Exercise E 64

    7 Linking and chain-linking 67

    7.1 Linking 68

    7.2 Re-basing 71

    7.3 Chain-linking 74

    7.4 Chapter summary 75

    Exercise F 76

    8 Constructing the consumer prices index 79

    8.1 Specifying the index 79

    8.2 The basket 80

    8.3 Locations and outlets 81

    8.4 Price collection 81

    8.5 Weighting 81

    8.6 Aggregation structure 82

    8.7 Elementary aggregates 83

    8.8 Linking 84

    8.9 Owner occupier housing 85

    8.10 Publication 85

    8.11 Special procedures 86

    8.12 Chapter summary 86

    References 86

    Exercise G 88

    9 Re-referencing a series 89

    9.1 Effective comparisons with index numbers 89

    9.2 Changing the index reference period 92

    9.3 Why re-reference? 94

    9.4 Re-basing 95

    9.5 Chapter summary 96

    References 96

    Exercise H 97

    10 Deflation 99

    10.1 Value at constant price 101

    10.2 Volume measures in the national accounts 102

    10.3 Chapter summary 103

    Exercise I 104

    11 Price and quantity index numbers in practice 105

    11.1 A big picture view of price indices 105

    11.2 The harmonised index of consumer prices 106

    11.3 UK measures of consumer price inflation 107

    11.4 PPI and SPPI 108

    11.5 PPPs and international comparison 109

    11.6 Quantity indices 109

    11.7 Gross domestic product 110

    11.8 Index of Production 111

    11.9 Index of services 112

    11.10 Retail sales index 113

    11.11 Chapter summary 114

    11.12 Data links 115

    References 115

    12 Further index formulae 119

    12.1 Recap on price index formulae 119

    12.2 Classifying price and quantity index formulae 120

    12.3 Asymmetrically weighted price indices 120

    12.4 Symmetric weighted price indices 123

    12.5 Un-weighted price indices 124

    12.6 Different formulae, different index numbers 126

    12.7 Chapter summary 127

    References 127

    Exercise J 129

    13 The choice of index formula 131

    13.1 The index number problem 131

    13.2 The axiomatic approach 133

    13.3 The economic approach 134

    13.4 The sampling approach 135

    13.5 The stochastic approach to index numbers 136

    13.6 Which approach is used in practice? 137

    13.7 Chapter summary 138

    References 138

    Exercise K 140

    14 Issues in index numbers 141

    14.1 Cost-of-living versus cost-of-goods 141

    14.2 Consumer behaviour and substitution 143

    14.3 New and disappearing goods 144

    14.4 Quality change 145

    14.4.1 Option 1: do nothing - pure price change 146

    14.4.2 Option 2: automatic linking - pure quality change 146

    14.4.3 Option 3: linking 147

    14.4.4 Option 4: imputation 147

    14.4.5 Option 5: hedonics 147

    14.5 Difficult to measure items 148

    14.6 Chapter summary 149

    References 149

    15 Research topics in index numbers 151

    15.1 The uses of scanner data 151

    15.1.1 Improvements at the lowest level of aggregation 152

    15.1.2 Understanding consumer behaviour 152

    15.1.3 Alternative measurement schemes 153

    15.1.4 Frequency of indices 153

    15.2 Variations on indices 154

    15.2.1 Regional indices 154

    15.2.2 Variation by socio-economic group or income quantile 154

    15.3 Difficult items 155

    15.3.1 Clothing 155

    15.3.2 New and disappearing goods 156

    15.3.3 Hedonics 157

    15.4 Chaining 157

    15.5 Some research questions 158

    References 158

    A Mathematics for index numbers 161

    A.1 Notation 161

    A.1.1 Summation notation 161

    A.1.2 An alternative representation 163

    A.1.3 Geometric indices 164

    A.1.4 Harmonic indices 164

    A.2 Key results 165

    A.2.1 The value ratio decomposition 165

    A.2.2 Converting between the two forms of price and quantity indices 166

    A.2.3 Other examples of the price-relative/weights 167

    A.2.4 The value ratio as a product of Fisher indices 167

    A.3 Index Formula Styles 168

    B Choice of index formula 169

    B.1 The axiomatic approach to index numbers 169

    B.1.1 An introduction to the axiomatic approach 169

    B.1.2 Some axioms 170

    B.1.3 Choosing an index based on the axiomatic approach 173

    B.1.4 Conclusions 174

    B.2 The economic approach to index numbers 174

    B.2.1 The economic approach to index numbers 174

    B.2.2 A result on expenditure indices 177

    B.2.3 Example 1: Cobb-Douglas and the Jevons index 179

    B.2.4 Example 2: CES and the Lloyd-Moulton index 181

    B.2.5 Issues with the economic approach 183

    References 184

    C Glossary of terms and formulas 185

    C.1 Commonly used terms 185

    C.2 Commonly used symbols 189

    C.3 Unweighted indices (price versions only) 190

    C.4 Weighted indices (price versions only) 191

    D Solutions to exercises 193

    E Further reading 211

    E.1 Manuals 211

    E.2 Books 211

    E.3 Papers 212

    Index 213