Producer Price Index Manual: Theory and Practice ... - METAC

19. Price Indices Using an Artificial Data Set
Table 19.22. Manufacturing Sector Fixed-Base Laspeyres, Paasche, Fisher, and Törnqvist Value-
Added Deflators
Period t
1 1.0000 1.0000 1.0000 1.0000
2 0.9462 0.9800 0.9629 0.9599
3 1.3615 1.3261 1.3437 1.3425
4 1.5462 1.4870 1.5163 1.5265
5 1.5308 1.4667 1.4984 1.4951
P L
t
P P
t
P F
t
P T
t
Table 19.23 Manufacturing Sector Chained Laspeyres, Paasche, Fisher, and Törnqvist Value-Added
Deflators
Period t
1 1.0000 1.0000 1.0000 1.0000
2 0.9462 0.9800 0.9629 0.9599
3 1.2937 1.3711 1.3318 1.3430
4 1.4591 1.5476 1.5027 1.5217
5 1.4335 1.5345 1.4832 1.5013
P L
t
P P
t
P F
t
P T
t
Table 19.24. Services Sector Fixed-Base Laspeyres, Paasche, Fisher, and Törnqvist Value-Added Deflators
Period t
1 1.0000 1.0000 1.0000 1.0000
2 1.2368 1.2675 1.2521 1.2561
3 1.5735 1.4768 1.5244 1.5344
4 1.7324 1.4820 1.6023 1.6555
5 1.8162 1.2971 1.5348 1.6547
P L
t
P P
t
P F
t
P T
t
P L t , P P t , P F t , and P T t , respectively. The results are
listed in Table 19.22.
19.38 From Table 19.22, it can be seen that the
divergence between the fixed-base Laspeyres and
Paasche value-added deflators for the manufacturing
sector grow steadily from period 3 when it is
3.6 percent to period 5 when it is 4.4 percent.
However, the divergence between the two superlative
value-added deflators is quite small for all periods.
19.39 The data listed in Table 19.17 for the
manufacturing sector are used to calculate chained
Laspeyres, Paasche, Fisher, and Törnqvist valueadded
deflators for periods t equal to 1 to 5, P L t ,
P P t , P F t , and P T t , respectively. The results are listed
in Table 19.23.
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