Index number theory informs us that if data on matched prices and quantities are available, a superlative index number formula is best to aggregate heterogeneous items, and a unit value index to ...

An index or index number combines relative changes in various variables into one figure. Price and volume indices are important indicators in economic statistics. They give aggregated information on ...

The Consumer Price Index Manual (2004) provides guidelines for aggregation formulas that are promulgated at IMF training courses and technical assistance missions. This paper develops elementary level ...

W. Erwin Diewert, Index Number Theory Using Differences Rather than Ratios, The American Journal of Economics and Sociology, Vol. 64, No. 1, Special Invited Issue: Celebrating Irving Fisher: The ...

Two new 'ideal index number formulas' based on logarithmic changes are presented. Both of them satisfy the time and the factor reversal tests, react qualitatively correctly to extreme price and volume ...