| Affiliation: | (1) Erasmus Research Institute of Management, Erasmus University Rotterdam, P.O. Box 4000, 2270 JM Voorburg, THE NETHERLANDS;(2) Methods and Informatics Department, Statistics Netherlands, 2270 JM Voorburg, THE NETHERLANDS;(3) Department of Economics and Department of Agricultural and Resource Economics, Oregon State University, OR 97331-3612 Corvallis, USA;(4) Department of Economics, Oregon State University, OR 97331-3612 Corvallis, USA |
| Abstract: | Summary. This paper develops the theory of economic price and quantity indicators, being the difference analogue of indexes. The properties of indicators and indexes are compared. Observable bounds for the indicators will be derived, as well as two exactness results for Bennet (1920)-type price and quantity indicators.Received: 3 January 2002, Revised: 2 December 2002, JEL Classification Numbers: C43Previous versions of this paper were presented at the Economic Measurement Group Workshop 2001, School of Economics, University of New South Wales, Sydney, 30 March 2001, and at a seminar at the School of Economics, University of New England, Armidale NSW, 7 September 2001. The authors thank Erwin Diewert for helpful comments on a previous version. The views expressed in this paper do not necessarily reflect any policy of Statistics Netherlands. |
