In:
AStA Advances in Statistical Analysis, Springer Science and Business Media LLC
Abstract:
Within the stochastic approach, this paper establishes a closed-form solution to the price index problem for an arbitrary number of periods or countries. The index’s reference basket merges the intersections of all couples of baskets in all periods/countries and provides an effective commodity coverage. Under spherical regression errors, the index satisfies the Geary–Khamis equation system and, as such, offers a general and compact representation of the latter as well as the inferential framework as a dowry. Furthermore, by relaxing sphericalness in favor of a more realistic assumption of commodity-dependent variances, a broader result is achieved. The solution to the price index problem thus obtained encompasses the Geary–Khamis formulation and sows the seeds to further advances.
Type of Medium:
Online Resource
ISSN:
1863-8171
,
1863-818X
DOI:
10.1007/s10182-022-00457-5
Language:
English
Publisher:
Springer Science and Business Media LLC
Publication Date:
2022
detail.hit.zdb_id:
2277258-3
detail.hit.zdb_id:
2276384-3
