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MACMILLAN Index Numbers: A Stochastic Approach

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£88.32 £66.97 £71.63 £76.29 £80.94 £85.60 £90.26 24 March 2026 10 April 2026 27 April 2026 14 May 2026 01 June 2026

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Description

'An authoritative survey with exciting new insights of special interest to economists and econometricians who analyse intertemporal and interspatial price relationships.' - Professor Angus Maddison, Groningen University This book presents a comprehensive review of recent developments in the theory and construction of index numbers using the stochastic approach, demonstrating the versatility of this approach in handling various index number problems within a single conceptual framework. It also contains a brief, but complete, review of the existing approaches to index numbers with illustrative numerical examples. The stochastic approach considers the index number problem as a signal extraction problem. The strength and reliability of the signal extracted from price and quantity changes for different commodities depends upon the messages received and the information content of the messages. The most important applications of the new approach are to be found in the context of measuring rate of inflation; fixed and chain base index numbers for temporal comparisons and for spatial intercountry comparisons; the latter generally require special index number formulae that result in transitive and base invariant comparisons.

Product Specifications

Format
paperback
Domain
Amazon UK
Release Date
29 September 1994
Listed Since
20 December 2006

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