Economic measurement has over the years become an important subject in academic and policy researches. Debates in the development of macroeconomic theory and public policy rely on accurate feedback of aggregate data. This book fills the gap between the theory and practice in index numbers. It reviews and explores several important topics which lead to improvement in measuring price and output indices. These include econometric problems in hedonic regression, treatment of seasonal goods in the CPI, output and productivity measurement of government services, efficiency analysis of the health care sector, and a novel approach in calculating the cost-of-living indices for products involving risk and uncertainty. The book serves as a valuable references for academic economists, policy analysts, and economic statisticians.Second, all direct measurement methods are data intensive. For marketed goods, quantities are obtained by deflating values with price indices. Collection of price data, however, is simpler than collection of quantity data, because prices ofanbsp;...
|Title||:||Essays on the Theory and Practice of Index Numbers|
|Publisher||:||VDM Verlag - 2010-03|