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Exact and superlative index numbers
Abstract The paper rationalizes certain functional forms for index numbers with functional forms for the underlying aggregator function. An aggregator functional form is said to be ‘flexible’ if itExpand
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Introduction to Measurement with Theory
TLDR
This working paper is the first draft of an overview and commentary on the papers to appear in a Macroeconomic Dynamics Special Issue on Measurement with Theory. Expand
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Fisher ideal output, input, and productivity indexes revisited
A productivity index for a firm is generally defined as an output index divided by an input index. The first part of the paper uses the test or axiomatic approach to index number theory in order toExpand
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Hedonic Regressions. A Consumer Theory Approach
A hedonic regression regresses the price of various models of a product (or service) on the characteristics that describe the product. The existing economic theory that justifies a hedonic regressionExpand
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Duality approaches to microeconomic theory
Publisher Summary This chapter develops the duality between cost and production functions. The chapter derives the regularity conditions that a cost function C must have and shows how a productionExpand
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Scanner data, time aggregation and the construction of price indexes
We examine the impact of time aggregation on price change estimates for 19 supermarket item categories using scanner data. Time aggregation choices lead to a difference in price change estimates forExpand
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The decomposition of frontier cost function deviations into measures of technical and allocative efficiency
Abstract This paper presents a method for decomposing the deviations from a full frontier cost function into Farrell (1957) measures of technical and allocative efficiency. The method draws heavilyExpand
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Harmonized Indexes of Consumer Prices: Their Conceptual Foundations
The Harmonized Index of Consumer Prices (HICP) is the single most important indicator of inflation used by the European Central Bank. Sections 2 to 4 of the paper look at the theory of inflationExpand
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Essays in The theory and measurement of consumer behaviour in honour of Sir Richard Stone : The economic theory of index numbers: a survey
A pneumatic cleaning plant for drawing systems in spinning preparation machines and spinning machines is disclosed comprising suction means and means adapted to dispense puffs of air acting on theExpand
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The quadratic approximation lemma and decompositions of superlative indexes
It was shown in 1976 that a difference in a quadratic function of N variables evaluated at two points is exactly equal to the sum of the arithmetic average of the first order partial derivatives ofExpand
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