Academic literature on the topic 'Laspeyres Indices'
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Journal articles on the topic "Laspeyres Indices"
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Kozlova, М. A. "Törnqvist Formula for Сalculating a Consumer Price Index in Russia: Theory and Practice". Voprosy statistiki 27, № 5 (2020): 87–94. http://dx.doi.org/10.34023/2313-6383-2020-27-5-87-94.
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The article reflects the author’s position on the adjustment of the so-called substitution bias, which affects the value of the consumer price index, currently calculated using the Laspeyres formula. The author proposes a solution to the problem of the adequacy of statistical measurements of the dynamics of consumer prices in the case when, as a result of changing cost of the consumer basket, a buyer replaces a relatively expensive product with a relatively cheaper one. This solution is based on the existing index construction methodology (axiomatic, economic and stochastic approaches). The article substantiates the use of the Törnqvist formula, which has better properties in comparison with other formulae used in the construction of superlative indices. The authors calculated the Törnqvist price index for Russia based on Rosstat methodology and data using country-level quarterly group price indices and shares of consumer spending. To evaluate the results of empirical testing Laspeyres price index was compiled using the same quarterly data as the Törnqvist index. The values of the Törnqvist price index in most cases are less than the price dynamics obtained according to the Laspeyres formula. This conclusion is proved both theoretically and empirically, and it is confirmed for Russia as well. However, due to the non-observance of the conditions of smooth trends in consumer prices, the difference between the values of the Törnqvist and Laspeyres indices is significantly larger in certain quarters than that presented in empirical studies in other countries. Consumer price index, calculated using the Törnqvist formula, in the system of indicators of price statistics in Russia can be defined as an indicator that specifies the main consumer price index. Calculation of its value is necessary for a more realistic description of the processes taking place in the consumer market.
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Białek, Jacek. "Remarks on Geo-Logarithmic Price Indices." Journal of Official Statistics 35, no. 2 (2019): 287–317. http://dx.doi.org/10.2478/jos-2019-0014.
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Abstract As is known, all geo-logarithmic indices enjoy the axiomatic properties of being proportional, commensurable and homogeneous, together with their cofactors (Martini 1992a). Geologarithmic price indices satisfying the axioms of monotonicity, basis reversibility and factor reversibility have been investigated by Marco Fattore (2010), who has shown that the superlative Fisher price index does not belong to this family of indices. In this article, we discuss geo-logarithmic price indices with reference to the Laspeyres-Paasche bounding test and we propose a modification of the considered index family that satisfies this test. We also modify the structure of geo-logarithmic indices by using an additional parameter and, following the economic approach, we list superlative price index formulas that are members of the considered price index family. We obtain a special subfamily that approximates superlative price indices and includes the Fisher, Walsh and Sato-Vartia price indices.
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De Bartolo, Gilbert, and Franklyn D. Holzman. "The effects of aggregation on the difference between Laspeyres and Paasche indices." Journal of Comparative Economics 9, no. 1 (1985): 71–79. http://dx.doi.org/10.1016/0147-5967(85)90005-8.
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Białek, Jacek. "Proposition of a hybrid price index formula for the Consumer Price Index measurement." Equilibrium 15, no. 4 (2020): 697–716. http://dx.doi.org/10.24136/eq.2020.030.
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Research background: The Consumer Price Index (CPI) is a basic, commonly accepted and used measure of inflation. The index is a proxy for changes in the costs of household consumption and it assumes constant consumer utility. In practice, most statistical agencies use the Laspeyres price index to measure the CPI. The Laspeyres index does not take into account movements in the structure of consumption which may be consumers' response to price changes during a given time interval. As a consequence, the Laspeyres index can suffer from commodity substitution bias. The Fisher index is perceived as the best proxy for the COLI but it needs data on consumption from both the base and research period. As a consequence, there is a practical need to look for a proxy of the Fisher price index which does not use current expenditure shares as weights.
 Purpose of the article: The general purpose of the article is to present a hybrid price index, the idea of which is based on the Young and Lowe indices. The particular aim of the paper is to discuss the usefulness of its special case with weights based on correlations between prices and quantities.
 Methods: A theoretical background for the hybrid price index (and its geometric version) is constructed with the Lowe and Young price indices used as a starting point. In the empirical study, scanner data on milk, sugar, coffee and rice are utilized to show that the hybrid index can be a good proxy for the Fisher index, although it does not use the expenditures from the research period.
 Findings & Value added: The empirical and theoretical considerations con-firm the hybrid nature of the proposed index, i.e. in a special case it forms the convex combination of the Young and Lowe indices. This study points out the usefulness of the proposed price index in the CPI measurement, especially when the target index is the Fisher formula. The proposed general hybrid price index formula is a new one in the price index theory. The proposed system of weights, which is based on the correlations between prices and quantities, is a novel idea in the price index methodology.
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Kycha, A., and K. Kycha. "Socio-geographic transformation industrial complex of Rivne region in modern conditions." Bulletin of Taras Shevchenko National University of Kyiv. Geography, no. 63 (2015): 88–91. http://dx.doi.org/10.17721/1728-2721.2015.63.22.
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This paper considers the teoretical, methodological and applied principles of industrial development of Rivne region. Dynamics of indicators of industrial development demonstrated by indices of industrial products, which calculated using the chain method and Laspeyres index. Major attention was focused on the trends of the branch structure of industry, analysis of the changes in the structure of industry in years of market reforms. Grouping of economic activities was carried out according to their rate of sustainable development. The main characteristics of the dynamism of industries and areas of improvement, based on radical restructuring on the basis of technological modernization.
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Paz, Paloma Taltavull de la, and Stanley McGreal. "A RE-ASSESSMENT OF HOUSE PRICE INDICES: EVIDENCE FROM THE SPANISH MARKET." International Journal of Strategic Property Management 23, no. 1 (2018): 23–35. http://dx.doi.org/10.3846/ijspm.2019.6366.
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This paper using evidence from the Spanish housing market contributes significantly to the debate concerning the different results obtained from house price indices depending on the method used to build the index. Utilising a large database over the period 1994 to 2012, the paper constructs a time dummy hedonic index (HD) and an imputed hedonic index using a Laspeyres approach (HI), and compares the different effect on the price index evolution. The paper discusses control by quality changes and identifies those attributes experiencing structural changes over the analysis period, identified by the HI index but not by the HD index. Results indicate that changes in quality stem from socio-demographic conditions rather than changes to housing quality (other than size). The paper also shows that improvements in neighbourhood quality rather than change in a ‘typical house’ affects house price and argues that these considerations are important in both the method selected to calculate house price indices and the application of the methodology to estimate price changes.
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Almadani, Mohamad Isam, Peter Weeks, and Claus Deblitz. "Introducing the World’s First Global Producer Price Indices for Beef Cattle and Sheep." Animals 11, no. 8 (2021): 2314. http://dx.doi.org/10.3390/ani11082314.
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While international beef and sheep meat price developments are usually measured with meat trade prices (provided by FAO), no comparable information exists on world average of national prices that producers receive for livestock. This paper aims to fill this gap by introducing a set of global producer price indices representing cattle, lambs, and sheep prices as received by producers: the agri benchmark of weaner cattle, finished cattle, lambs and lambs and sheep price indices. These Laspeyres, production-weighted indices measure changes in global farm gate prices as provided annually by the agri benchmark Beef and Sheep Network, with this paper covering prices between 2000 and 2019. The results showed that growing Asian imports, local economic developments in South America, the interconnection with the dairy sector in Europe, growth of beef consumption in China and exchange rates shifts are the key factors that drove developments of global beef producer prices over the past 20 years. Droughts in Oceania and the rapid rise in China’s sheep meat prices are highly reflected in the Global Lambs and Lambs and Sheep Meat Price indices. The indices indicate whether cattle and sheep producers globally are receiving more, or less, for the commodity and may increase or reduce production and investment accordingly. This will be of more use if there were similar producer price indices for competing enterprises, such as dairy and cropping, and for competing proteins, such as pigs, poultry, and fish.
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Muller, Nicholas Z. "Using index numbers for deflation in environmental accounting." Environment and Development Economics 19, no. 4 (2013): 466–86. http://dx.doi.org/10.1017/s1355770x1300048x.
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AbstractSystematic trends in the general price level of goods and services are the subject of extensive measurement and significant interest among researchers, policy makers and the general public. Dynamic price measurement is also important in environmental accounting in that real measures of augmented output are required to draw inferences on sustainability. This paper computes price indices for emissions of five air pollutants in the United States. Using marginal damages, the paper computes Paasche, Laspeyres, Fisher and Tornquist index numbers for five air pollutants spanning the period 1999–2008 for use in computing real environmental accounts. Evidence of time series heterogeneity in the marginal damages is detected: marginal damages for nitrogen oxides increase by a factor of two and marginal damages for NH3 decrease by one-half. The analysis finds that nominal gross damages from air pollution in the United States decrease by 40 per cent between 1999 and 2008.
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Ternovsky, D. S., and V. Ya Uzun. "On the Statistical Reflection of Long-Term Growth in Agricultural Production." Voprosy statistiki 27, no. 5 (2020): 36–47. http://dx.doi.org/10.34023/2313-6383-2020-27-5-36-47.
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The article presents the results of a study aimed at proving the existence of systematic error in traditional calculations of long-term growth rates of agricultural production based on chain indices of agricultural production. According to the authors, the article also introduces a more accurate assessment of its dynamics with the account to the structure of the relationship between prices and the volume of agricultural production. The paper describes a theoretical model that is a methodological basis for the study and explains the discrepancy in assessing the dynamics of agricultural production using chain indices and indexes at constant prices. It allows establishing differences in the ratios of the Laspeyres, Paasche, and Lowe indices for crop and livestock production, due to factors in the formation of demand and the complex structure of the relationship between the price level and the volume of production. The adequacy of the constructed theoretical model is proved based on aggregated data that eliminated the influence of incompleteness of the initial information. As a result, it was established that livestock production is characterized by time-distributed changes in prices and quantity of products, which makes it possible to assess its dynamics using both chain indices and symmetric indices. It is proved that the dynamics of crop production cannot be adequately described using chain indices, since a positive correlation of prices of the previous period and production volumes of the current period causes an overstatement of the index in comparable prices of the previous year. Based on calculations within the proposed aggregated model, it is proved that the use of constant prices as the Lowe index weights, updated every five years, is an acceptable approximation of the Fisher symmetric index. Application of the indicated methodology for calculating the index to the data on Russian agricultural production by main types of products in 1990-2018 allowed to establish an overstatement of dynamics by 11.9%. The main difference falls on crop production (+ 19.6%), while for livestock - the differences are insignificant (-0.7%).
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Kuritsyn, A. V., A. Yu Rumyantseva, N. A. Lazareva, and T. V. Kushnarenko. "Index Assessment of Changes in the Balance of Economic Interests and Expectations of the Seller and the Buyer in Market Transactions." Economics and Management 26, no. 10 (2020): 1060–67. http://dx.doi.org/10.35854/1998-1627-2020-10-1060-1067.
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The presented study addresses the problem of the correlation between the economic interests of market transaction participants and the market expectations of the seller and the buyer. Innovative balance indices of price and quantity are proposed to be used as a tool for solving this problem.Aim. The study aims to show how the balance indices of price and quantity can be used to achieve a parity compromise in market transactions with a fixed purchase and sale budget, which is the optimal result for the seller and the buyer and ensures the stability of mutually beneficial market relations between economic agents.Tasks. To achieve the set aim, the authors analyze the commodity-money balance of interests and its structure from the perspective of the seller and the buyer; substantiate the need to build a balance of market expectations; assess the possibility of using the index method as a synthetic method to resolve (according to Hegel) contradictions between interests and expectations by combining them.Methods. This study uses methods of mathematical analysis, numerical methods of approximate evaluation of functions, index method, method of analogies, provisions of theories of adaptive and rational expectations.Results. The Laspeyres and Paasche indices can be interpreted as changes in the adaptive and rational expectations of economic agents respectively. It is proved that the balance indices of price and quantity are the coordinates of the point of parity compromise, where “pure” and “mixed” market expectations and economic interests of the seller and the buyer converge.Conclusions. It is established that in market transactions with a fixed budget, the balance of economic interests on a compensatory basis is beneficial for the seller and absolutely not beneficial for the buyer. In order for the balance of interests to be beneficial for both participants of the transaction, it must be viewed through the prism of the balance of market expectations. Balance indices of price and quantity serve as a tool that establishes a connection between the balances of market expectations and economic interests.
Dissertations / Theses on the topic "Laspeyres Indices"
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Zagler, Martin, and Ulrike Mühlberger. "The European Employment Price Index: Implementation and Feasibility in Austria." Austrian Statistical Society, 1998. http://epub.wu.ac.at/5640/1/538%2D1529%2D1%2DSM.pdf.
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The study, on which this paper is based upon, has analyzed the
implementation and feasibility of the European Employment Price Index
(EEPI) in Austria. The European Employment Price Index is a Laspeyres
measure of the change in the demand-transaction price of the standardized
unit of labor. We find that it is feasible to construct the index with the
available company data with an approximate lag length of five month. Most
data were easily accessible within firms, with the exception of severance
payments, company pensions, and hypothetical costs. Only 228 observations
are required to obtain an aggregate EEPI for Austria within +/- one
percentage point at the 95 % significance level, whilst some 4800
observations are necessary for disaggregate series, enormously increasing
costs of provision.
Book chapters on the topic "Laspeyres Indices"
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"Laspeyres and Paasche indices." In A Practical Introduction to Index Numbers. John Wiley & Sons, Ltd, 2015. http://dx.doi.org/10.1002/9781118977781.ch5.
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