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

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Bibliography Zarnowitz, V., 1961, “Index Numbers and the Seasonality of Quantities and Prices,” in The Price Statistics of the Federal Government, ed. by G.J. Stigler (New York: National Bureau of Economic Research), pp. 233–304. Zieschang, Kimberly D., 1988, “The Characteristics Approach to the Problem of New and Disappearing Goods in Price Indexes,” BLS Working Paper 183 (Washington: Bureau of Labor Statistics). 639
Glossary Accrual recording The recording of the value of a purchase or other transaction at the time the obligation to pay is incurred, as distinct from the time payment is made. Additivity At current prices, the value of an aggregate is equal to the sum of its components. At constant prices, additivity requires this identity to be preserved for the extrapolated values of the aggregate and its components, when their values in some reference period are extrapolated to some other period using a set of interdependent volume index numbers, or, alternatively, when the values of an aggregate and its components in some period are deflated using a set of interdependent price index numbers based on some other period. Aggregate A set of transactions relating to a defined flow of goods and services, such as the total output produced by resident establishments in a given period, or the total purchases of intermediate inputs made by resident establishments in a given period. The term “aggregate” also is used to mean the value of the specified set of transactions. Aggregation The process of combining, or adding, different sets of transactions to obtain larger sets of transactions. The larger set is described as having a higher level of aggregation than the sets from which it is composed. The term “aggregation” also is used to mean the process of adding the values of lower-level aggregates to obtain higher-level aggregates. It also is used to mean the process by which price indices for lower-level aggregates are averaged, or otherwise combined, to obtain price indices for higher-level aggregates. Axiomatic approach The approach to index number theory that determines the choice of index number formula on the basis of its mathematical properties. A list of “tests” is drawn up that require an index to possess certain properties, and the choice of index made on the basis of the number of tests satisfied. Not all tests may be considered equally important, and the failure to satisfy certain key tests may be considered sufficient grounds for rejecting an index. An important feature of the axiomatic approach is that prices and quantities are considered as separate variables, and no account is taken of possible links between them. Also known as the “test approach.” Base period The base period generally is understood to be the period with which other periods are compared and whose values provide the weights for a price index. However, the concept of the “base period” is not a precise one and may be used to mean rather different things. Three types of “base periods” may be distinguished: (i) the price reference period, that is, the period whose prices appear in the denominators of the price relatives used to calculate the index, or (ii) the weight reference period, that is, the period, usually a year, whose values serve as weights for the index. However, when hybrid expenditure weights are used in which the quantities of one period are valued at the prices of some other period, there is no unique weight reference period, or (iii) the index reference period, that is, the period for which the index is set equal to 100. The three reference periods may coincide but frequently do not. Base weighted index See “Laspeyres price index.” Basic price The amount received by the producer from the purchaser for a unit of good or service produced as output. It includes subsidies on products and other taxes on production. It excludes taxes on products, other subsidies on production, supplier’s retail and wholesale margins, and separately invoiced transport and in- 594
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Contents Foreword..................
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Contents D. The Incorporating of Ne
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Contents E. Industry Price Indices
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Contents Table 19.23 Manufacturing
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Foreword This Producer Price Index
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Preface The ILO, IMF, OECD, UNECE,
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Preface source (rather than requiri
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Preface tremendous concern with sam
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Preface among countries. However, t
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Preface Chapter 6 Chapter 7 Chapter
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Reader’s Guide International manu
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Reader’s Guide the System of Nati
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Abbreviations ABS ABS AF ANZIC ATM
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Abbreviations OLS Ottawa Group P C
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PART I Methods, Uses, and Coverage
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Producer Price Index Manual The exp
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Producer Price Index Manual B.1 Pri
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Producer Price Index Manual and qua
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Producer Price Index Manual D. The
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Producer Price Index Manual also ar
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Producer Price Index Manual theoret
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Producer Price Index Manual Laspeyr
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Producer Price Index Manual limited
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Producer Price Index Manual for the
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Producer Price Index Manual decisio
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Producer Price Index Manual ample,
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Producer Price Index Manual mediate
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Producer Price Index Manual treated
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Producer Price Index Manual C. Geog
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Producer Price Index Manual improve
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PART II Compilation Issues
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Producer Price Index Manual C. Appr
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Producer Price Index Manual Figure
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Producer Price Index Manual source
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Producer Price Index Manual prices
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5. Sampling Issues in Price Collect
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Producer Price Index Manual tory su
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Producer Price Index Manual D.1.2 C
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Producer Price Index Manual (5.2) f
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Producer Price Index Manual Table 5
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Producer Price Index Manual of prod
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Producer Price Index Manual ances.
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Producer Price Index Manual RESPOND
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7. Treatment of Quality Change A. I
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Producer Price Index Manual 7.12 Co
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Producer Price Index Manual current
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Producer Price Index Manual success
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Producer Price Index Manual contrib
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Producer Price Index Manual per uni
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Producer Price Index Manual variety
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Producer Price Index Manual B.2.6 S
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7. Treatment of Quality Change Tabl
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7. Treatment of Quality Change Tabl
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Producer Price Index Manual (7.31b)
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Producer Price Index Manual (v) Pro
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Producer Price Index Manual tions.
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Producer Price Index Manual in resp
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9. PPI Calculation in Practice clud
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Producer Price Index Manual (a) Res
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Producer Price Index Manual 10. Rec
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Producer Price Index Manual Voice m
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Producer Price Index Manual USAGE C
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11. Errors and Bias in the PPI disp
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Producer Price Index Manual of the
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Producer Price Index Manual unitary
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12. Organization and Management A.
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12. Organization and Management ass
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12. Organization and Management of
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12. Organization and Management rie
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12. Organization and Management det
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12. Organization and Management Vis
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12. Organization and Management fou
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13. Publication, Dissemination, and
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14. The System of Price Statistics
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I 14. The System of Price Statistic
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15. Basic Index Number Theory 371 k
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15. Basic Index Number Theory 395 C
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15. Basic Index Number Theory 399 A
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16. Axiomatic and Stochastic Approa
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17. Economic Approach A. Introducti
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17. Economic Approach ing flexible
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17. Economic Approach constraint, f
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18. Aggregation Issues A. Introduct
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18. Aggregation Issues (18.4) R 0 (
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18. Aggregation Issues index, P(p y
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18. Aggregation Issues , = 1 N M
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18. Aggregation Issues (18.56) p t
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18. Aggregation Issues 18.67 Howeve
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19. Price Indices Using an Artifici
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20. Elementary Indices Any aggregat
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20. Elementary Indices 20.13 Practi
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20. Elementary Indices P D . For ea
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20. Elementary Indices listed in Ch
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20. Elementary Indices approach hel
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20. Elementary Indices (20.41) M
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20. Elementary Indices price collec
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20. Elementary Indices penditure sh
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21. Quality Change and Hedonics 21.
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21. Quality Change and Hedonics uni
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21. Quality Change and Hedonics cha
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21. Quality Change and Hedonics by
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21. Quality Change and Hedonics per
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22. Treatment of Seasonal Products
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