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Economic Analysis of Production Price Indexes

Economic Analysis of Production Price Indexes

$44.99 (P)

  • Date Published: November 1997
  • availability: Available
  • format: Paperback
  • isbn: 9780521556231

$ 44.99 (P)
Paperback

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About the Authors
  • This is a book on the theory behind the construction of production index numbers. Well-known examples of such indexes are the Gross Domestic Product, the Producer Price Index, and labor productivity. Fisher and Shell provide the analysis behind this class of index numbers. They treat separately the different production units and different forms of industrial organization. They show the direction of bias in traditionally calculated index numbers and how biases can affect fundamental conclusions about the growth or stagnation of the economy.

    • Major contribution to economic theory by two of the best-known senior practitioners in the US, showing direction of bias in traditionally-calculated index numbers
    • Analysis of index numbers underlies the most important economic indexes, including the gross domestic product, the producer price index, and labour productivity
    • Will contribute to today's enormously important debate about recalculating the consumer price index and inflation rate
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    Reviews & endorsements

    "...this is the first study to discuss output and input price indexes with particular attention to the market setting in which such indexes are embedded. Thus, this effort by Fisher and Shell occupies a unique position in the index number literature." Daniel Primont, Southern Economic Journal

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    Product details

    • Date Published: November 1997
    • format: Paperback
    • isbn: 9780521556231
    • length: 242 pages
    • dimensions: 229 x 152 x 13 mm
    • weight: 0.33kg
    • contains: 21 b/w illus.
    • availability: Available
  • Table of Contents

    Preface
    1. Introduction
    2. Principles of price and quantity measurement: ouputs
    3. Comparative statics: outputs
    4. Principles of price and quantity measurement: inputs
    5. Comparative statics: inputs
    6. Aggregation
    Appendix
    References.

  • Authors

    Franklin M. Fisher, Massachusetts Institute of Technology

    Karl Shell, Cornell University, New York

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