Lecture Notes in Economics and Mathematical Systems

Theory of the Price Index

Fisher’s Test Approach and Generalizations

Authors: Eichhorn, W., Voeller, J.

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About this book

We wish to thank Georg Hasenkamp for valuable comments on an earlier draft of the manuscript and Steven Diamond for his kindness in reading the manu­ script and providing advice regarding the style of the exposition. We are also grateful to Miss Ingeborg Kasper for her careful typing of the manu­ script. Contents 1. Introduction 4 2. Price Indices Depending only on Prices 2. 1 Definition, Examples, Implications 4 2. 2 Characterizations of Pri~e Indices 15 3. Price Indices Depending on Prices and Quantities 22 3. 1 Definition, Examples 23 3. 2 Fisher's System of Tests 29 3. 3 Implications and Characterizations 35 3. 4 Independence and Inconsistency of Fisher's Tests 44 3. 5 General Solution of the Inconsistency Problem 54 4. Price Levels, Price Indices, and Fisher's Equation 59 of Exchange 4. 1 Definition, Examples, Implications 60 4. 2 Characterizations of Price Levels 64 4. 3 Fisher's Equation of Exchange Reconsidered 72 Bibliography 5. 83 6. Index 88 1. Introduction In the face of the economic, political, and social problems resul­ ting from world-wide inflation, theories of the price index have gained new attention. This newfound interest in price indices stems from the fact that all such indices are designed to serve as yardsticks for measuring the price behavior of goods and services. That is, all price indices relate to the concept of the 'purchasing power of money'. If prices increase, then the value of the unit of money declines, i. e.

Table of contents (5 chapters)

Table of contents (5 chapters)

Buy this book

eBook $89.00
price for USA in USD
  • ISBN 978-3-642-45492-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $119.99
price for USA in USD
  • ISBN 978-3-540-08059-6
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
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Bibliographic Information

Bibliographic Information
Book Title
Theory of the Price Index
Book Subtitle
Fisher’s Test Approach and Generalizations
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
140
Copyright
1976
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin · Heidelberg
eBook ISBN
978-3-642-45492-9
DOI
10.1007/978-3-642-45492-9
Softcover ISBN
978-3-540-08059-6
Series ISSN
0075-8442
Edition Number
1
Number of Pages
95
Topics