Price Statistics as a System
Journal Title: Revista Romana de Statistica - Year 2012, Vol 60, Issue 1
Abstract
A price index may be characterized as the factor giving the relative change in this value aggregate arising from changes in prices. As such, all the major price index formulae can be expressed as weighted averages of price relatives whose weights are the shares of items in the value aggregate. For the best-known price index formulae expressed as value aggregates of share-weighted averages of price relatives, we have the Laspeyres index. the Paasche index, and the Walsh and Tornqvist indices. As the geometric mean of the Laspeyres and Paasche indices, the Fisher ideal index is also a function of expenditure shares derived directly from the value aggregate.
Authors and Affiliations
Constantin ANGHELACHE, Gabriela Victoria ANGHELACHE, Mihai GHEORGHE, Ioan PARTACHI, Sanda NAN
Keywords
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