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637

Index

References are to chapter and paragraph or appendix numbers (not to pages). The notation (g) indicates an entry in the glossary or glossary appendix; a (t), (f), or (b) appended to paragraph numbers indicates a table, figure, or box adjoining relevant text; addition of “*” (for example, (t*)) indicates that the table, etc., is lo-cated immediately after, but is not relevant to, that paragraph (the paragraph number is merely a locator).

ABS. See Australian Bureau of Statistics Absolute index number, 16.4 Accounting

current cost accounting, 2.57 Accrual accounting, 5.9 Accrual recording, (g) Actual consumption expenditures, 14.29 Actual final consumption of households, 14.30 Actual market transaction prices, 1.328. See also

Transaction price Additive percentage change decompositions, 19.24–

19.26(t) Additive quality adjustment, 7.76(t) Additivity, (g) Additivity test, 1.77, 16.65–16.76 Administrative data, 1.254, 4.41, 4.60 Advisory committees, 13.75–13.77 Advisory groups, 1.278 Aggregates, (g). See also Elementary aggregates;

Value aggregates defined, 20.7

Aggregation, 1.120–1.122, (g) consistency, 1.265 deflation of value added, 18.39–18.45 double deflation method for constructing real value

added, 18.49–18.56 of establishment deflators into national value-

added deflator, 18.57–18.60 industry, 2.60 intermediate input price, 18.39–18.45 Laspeyres formula, 18.32–18.38 macroeconomic, 2.61 national intermediate input price index, 18.24–

18.27 national output price index, 18.4–18.23 national value-added deflator, 18.28–18.31 national value-added deflator compared with final-

demand deflator, 18.61–18.80 output price, 18.39–18.45 over establishments, 18.4–18.31 overview, 18.1–18.3 Paasche formula, 18.32–18.38 stage of production, 2.64

structure, 9.9–9.10 superlative index, 18.32–18.38 two-stage, 18.32–18.38 value-added deflators, 18.39–18.56

Agriculture industry annual chaining, 10.29–10.30 annual price index, 10.27–10.28 decomposition, 10.33–10.34 Farm Product Price Index, 10.13–10.17 linking at the annual index, 10.31–10.32 monthly price changes, 10.33–10.41 product prices, 3.43 seasonal baskets, 10.18–10.26 time reference, 10.43 treatment of products, 10.5, 10.11–10.44 use of receipts in the absence of quantities sold,

10.42 value-added deflators, 19.33–19.36(t)

Algorithms for data editing, 12.52–12.53 Annual chaining, 1.272, 1.377, 9.143–9.144, 10.29–

10.30 Annual indices. See Seasonal products Annual weights, 1.57, 15.34–15.65 ANZIC. See Australian and New Zealand Standard

Industrial Classification Arithmetic average of price relatives, 1.142–1.144 Arithmetic mean, weighted, 19.14 Arithmetic-type midyear indices, 19.23–19.26(t) Artificial data set

additive percentage change decompositions, 19.27–19.29(t)

final-demand data set, 19.6–19.22(t) industry data set, 19.30–19.35(t) midyear indices, 19.23–19.26(t) national intermediate input price index, 19.52–

19.55(t) national output price index, 19.48–19.51(t) national two-stage aggregation, 19.61–19.65(t) national value-added deflator, 19.56–19.60(t) overview, 19.1–19.5 price indices for final-demand components, 19.6–

19.22 value-added deflators, 19.36–19.47(t)


638

Asymmetrically weighted price index, 19.12(t) Auditors

backchecking, 12.33–12.38 monitoring data collection, 12.29–12.32 process auditing, 12.33–12.38 role of, 12.27–12.28, 12.39–12.41

Australian and New Zealand Standard Industrial Clas-sification, 1.185, 3.72

Australian Bureau of Statistics, 10.45, 12.81 Average of price relatives, 1.141, 16.7–16.9 Average prices, 1.179, 3.25–3.29, 6.6, 6.12 Axiomatic approach, (g)

additivity test, 1.77, 16.65–16.76 bilateral price indices, 16.31–16.76, 16.97–16.132 elementary indices, 1.147–1.150, 9.25–9.30(t),

20.31–20.44 Fisher ideal index and test approach, 16.56–16.59 homogeneity tests, 16.39–16.44, 16.102–16.108 invariance tests, 16.45–16.49, 16.109–16.114 limitations, 1.74 mean value tests, 16.50–16.52, 16.115 monotonicity tests, 16.53–16.55, 16.116 overview, 16.1–16.2 ranking of indices, 1.71–1.79, 20.41–20.44 symmetry tests, 16.45–16.49, 16.109–16.114 test performance, 16.60–16.64 Törnqvist-Theil price index, 16.123–16.132 unilateral price indices, 16.11–16.30 uses of, 1.61–1.70 weighting tests, 16.117–16.122

Backchecking, 12.33–12.38 Backward linking, 1.271, 9.118 Balancing items, 14.21 Banking industry. See Commercial banking industry Base period, (g). See also Index reference period;

Price reference period; Weight reference pe-riod

Base quality adjustment, 7.77 Base-weighted index, (g) Base year, 15.34 Base-year revenue shares, 15.55 Basic information level, 20.9 Basic price, 1.293, 2.37, 14.19–14.20, (g) Basket, (g) Basket price index, 9.76, (g appendix). See also Fixed

basket price index; individual indices Bean and Stine Type C index, 22.11, 22.87–22.89 Benchmarking, 12.81 Bias, (g). See also Error

concepts of a true or good index, 11.18–11.20 due to product replacement and new goods, 1.301 dynamic universe, 11.30–11.32

from implicit quality adjustment, 7.99(t) from inappropriate use of a PPI, 11.21–11.26 lower-level substitution bias, 11.43–11.44 new establishment bias, 11.46–11.47 new goods bias, 11.38 non-response bias, 5.6 nonsampling bias, 11.16–11.17 omitted variable bias, 21.93 PPI valuation and, 11.27 quality change bias, 11.34–11.37 response bias, 11.33 sampling bias, 11.11–11.15 sampling bias on initiation, 11.28–11.29 sources of, 11.1–11.9(t) substitution bias, 1.88, 11.40–11.47, 17.24–17.25 temporarily missing bias, 11.39 undercoverage bias, 11.24 unit value bias, 11.45 upper-level substitution bias, 11.41–11.42

Bilateral index number theory, 16.3, 16.5 Bilateral price indices. See Axiomatic approach Book price, 1.178, 1.328, 6.22, (g). See also List price Bouncing, 1.261, (g)

price bouncing, 1.261 price bouncing test, 20.33

Bridge construction industry, 10.158–10.160 Bulletins, 13.47 Business census, 1.245–1.246, 4.33–4.34, 4.53–4.55 Business register, 1.252–1.253, 4.39–4.40, 4.56 Buyer coverage, 3.4–3.7 Calculation of price indices

elementary indices 9.6–9.74 higher-level indices 9.75–9.146

Canada Farm Product Price Index, 10.13–10.17 WPI, 2.13

Capital account, 14.16. See also System of National Accounts

Capital formation, 14.39–14.40(t) Carli price index, 9.70, 16.6, 16.77, 16.79, 19.8–

19.11, 20.17, (g) axiomatic approach, 1.149, 20.44 compilation of elementary price indices, 9.18–

9.38(t) economic approach, 1.163 elementary index, 20.17, 20.30, 20.43, 20.62,

20.83 final-demand commodities, 19.8(t) relationships with other elementary indices, 1.143 treatment of missing prices, 9.52–9.54(t) treatment of missing products, 9.55–9.63(t) uses of, 1.82

Index

639

Carruthers, Sellwood, Ward, Dalén index, 1.165, 20.20, 20.30, (g)

Carryforward, 7.109, 9.49, 9.182, 22.78–22.84(f)(t), (g)

Censuses, 1.245–1.246, 4.33–4.34, 4.53–4.55 Central Product Classification, 1.187, 3.73–3.75, 4.18,

(g) Chain index, 1.56–1.59, 1.113, 9.40–9.45(g)

annual chaining, 1.272, 1.377, 9.143–9.144, 10.29–10.30

calculation of, 9.114–9.116(t) compared with fixed-base indices, 15.77–15.98 final-demand commodities, 19.10–19.11(t) Laspeyres index, 1.58–1.59 linking, 1.56 long-term links, 9.131–9.134 Lowe index, 1.57–1.58 midyear price index, 19.25–19.26(t) month-to-month index, 9.19, 22.31–22.34 quality adjustment, 7.192–7.198 sampling and, 8.11–8.14 short-term links, 9.131–9.134 using linking coefficients, 9.117–9.118(t)

Chain linking, 1.377, (g and g appendix) introduction of new weights, 9.107–9.109

Chain-linking bias, (g) Characteristics, (g). See also Product specification c.i.f. price, 14.42, (g) Circularity, 20.36, (g) Circularity test, 15.89–15.90, 15.93–15.97, 16.113,

16.135, 20.37 Class mean imputation, 1.229, 7.105–7.106 Classification

function of, 1.184 industrial, 1.185, 2.60, 3.66–3.72 industry aggregation, 2.60 international standard systems, 1.185, 1.187, 3.65 product classification, 1.186–1.187, 3.73–3.79 production activity, 3.66–3.72 role of, 1.184, 3.58–3.64

Classification of Individual Consumption by Purpose, 20.7

Classification of Products by Activity, 1.185, 3.76–3.77, 4.18, (g)

Classification system, 1.173, 1.184–1.187, 4.17–4.20(t)

Clothing industry treatment of products, 10.8, 10.45–10.58

Coefficients. See also Linking coefficients hedonic quality adjustment, 7.136–7.137, 7.144

COICOP. See Classification of Individual Consump-tion by Purpose

COLI. See Cost-of-living index Collection. See Price collection

Collectors. See also Auditors training requirements, 12.68–12.71

Commensurability test, 1.62, 9.25, 16.46, 16.135, 20.37, (g)

Commercial banking industry output of, 10.200–10.217 system of price statistics, 14.13–14.15(b) treatment of products, 10.9, 10.199 U.S. PPI commercial bank index, 10.218–10.238

Commodities, (g) Commodity analysis, 2.62 Commodity reversal test, 16.45, 16.109, 16.135, (g) Comparable products

quality adjustment methods, 7.73 Comparable replacement, 7.25, 7.107, 7.154, 7.200 Compensation of employees, 14.64(t), (g) Compilers

training requirements, 12.68–12.71 Component, (g) Component pricing, 6.83, 10.125 Computer industry

treatment of products, 10.7, 10.80–10.99 Computers

hedonic adjustment approach regression data, 7.1 (appendix)

hedonic method adjustments, 7.127–7.134 option cost adjustments, 7.123–7.125 price index, 10.80 quality adjustment issues, 7.61–7.65

Conditional cost function, 17.61 Confidentiality, 6.107, 13.61–13.64 Consistency in aggregation, (g) Constant elasticity of substitution index, (g) Constant prices test, 16.36, 16.101, (g) Constant quantities test, 16.36–16.38, (g) Construction industry, 3.2

bridges, 10.158–10.160 house building, 10.147–10.157 nonbuilding construction, 10.158–10.166 nonresidential building, 10.149–10.157 residential building other than houses, 10.149–

10.157 roads, 10.158–10.160 treatment of products, 10.6, 10.139–10.146

Consumer price index, 1.97, 1.117, 2.30–2.31, 14.53–14.54(t)

Consumer side hedonic prices and, 21.13–21.17

Consumption of fixed capital, (g) Continuity, 16.35, 16.101, 16.135, 20.32, (g) Continuous time Divisia index, 15.73–15.76 Contract escalation, 2.2, 2.53, 3.63, (g). See also In-

dexation of contracts Contract price, 1.178, 3.19–3.21, 10.121–10.124, (g)


640

Core inflation, 13.27–13.29 Corporate services price index, 3.3 Cost-of-living index, 2.7, (g) Country product dummy method, 20.77 Coverage, 1.294–1.299, 11.23–11.26, (g)

buyer, 3.4–3.7 geographic, 3.45–3.48 industrial, 1.176, 2.41, 3.1–3.3 population, 1.175–1.177, 3.1–3.14 price, 1.178–1.181, 3.15–3.44 product, 1.176, 5.36, 14.47, 14.59

CPA. See Classification of Products by Activity CPC. See Central Product Classification CPI. See Consumer price index CPI Manual, 2.30–2.33 Cross-subsidization, 3.33 CSPI. See Corporate services price index CSWD index. See Carruthers, Sellwood, Ward, Dalén

index Current cost accounting, 2.57, 5.9, (g) Current period, (g) Current period quality adjustment, 7.77 Current-weighted index, (g). See also Paasche price

index Customs records, 1.256, 4.44 Cut-off sampling, 1.192, 5.30–5.33, 5.74–5.79, (g) Data. See also Dissemination issues

administrative, 1.254, 4.41, 4.60 business censuses, 1.245–1.246, 4.33–4.34, 4.53–

4.55 checking by impact, 9.171–9.173 collection, 1.188–1.208, 6.35, 6.42–6.65 correcting, 9.174–9.178 data output checking, 9.171–9.173 editing, 1.273, 9.147–9.179 electronic data, 3.55, 6.58, 6.59 establishment censuses, 1.245–1.246 identifying errors and outliers, 9.154–9.155 industry surveys, 1.247–1.249, 4.35–4.36 missing price observations, 9.180–9.185 nonstatistical checking, 9.156–9.162 registers, 1.252–1.253, 4.39–4.40, 4.56 statistical checking, 9.163–9.170 treatment of outliers, 9.179 verifying, 9.174–9.178

Decomposition agriculture industry, 10.33–10.34 Fisher price index, 19.24–19.26(t) of index changes, 9.135–9.138(t) of value aggregates, 15.7–15.18 Van Ijzeren decomposition factor, 19.25–19.26(t)

Deflation, 1.10, 1.121, 2.53, 3.10, 15.10, (g)

Deflation of value added, 18.39–18.45 Delinquency follow-up, 6.102–6.104 Demand side

hedonic prices and, 21.13–21.17 Determinateness as to prices test, 16.130 Diagnosis Related Group, 10.298–10.311 Direct comparison, 7.73 Direct index, 9.63 Directed replacements, 8.31–8.37 Disaggregation, 4.57–4.58, 10.168. See also Ranking

method Disappearing goods, 8.36, 8.39 Disappearing items

quality change, 21.2–21.11 Disaster Recovery Plan, 12.63–12.64 Discounts, 3.38–3.42, 6.67–6.80, (g) Dispersion index report, 12.50 Dissemination issues, 1.278–1.281, 1.301, 1.358–

1.366, 13.1–13.3 access to data, 13.57–13.60 confidentiality, 13.61–13.64 electronic release, 13.65–13.68 Internet release, 13.65–13.68 timeliness of release and data accuracy, 13.53–

13.56 timing of release, 13.52

Dissemination Standards Bulletin Board, 12.75, 13.50 Divisia approach, 1.60, 2.8, (g)

discrete approximations, 15.66–15.76 relationship with economic approach, 17.100–

17.105 Domain, (g) Double counting, 4.14 Double deflation, (g)

aggregation, 1.121 constructing real value added, 18.49–18.56 value-added index, 1.122

Double logarithmic formulation, 7.133, 21.83 Double universe, 8.4, 8.52, 21.2 DRG. See Diagnosis Related Group Drift, 1.283, 1.377, 9.74, (g) Drobisch price index, 15.19, 19.16–19.17, (g)

final-demand commodities, 19.14(t) DRP. See Disaster Recovery Plan Dummy variables on time, 21.55–21.57

hedonic functions, 7.170–7.172 Durable input, (g) Dutot index, (g)

compilation of elementary price indices, 9.18–9.30(t)

Dutot formula, 1.145, 20.16, 20.83 economic approach, 1.158 elementary index, 20.16, 20.30, 20.42, 20.57–

20.61

Index

641

relationships with other elementary indices, 1.144–1.145

treatment of missing prices, 9.52–9.54(t) treatment of missing products, 9.55–9.63(t) uses of, 1.63–1.64

Dynamic universe, 8.48–8.49, 11.30–11.32, 21.6 E-mail

price data collection, 6.60 ECI. See Employment Cost Index Economic approach, (g)

allowing for substitution, 1.116 approximations to superlative indices, 17.88–17.99 data requirements, 1.114–1.115 elasticity of substitution, 1.116 elementary indices, 1.151–1.167, 9.31–9.39,

20.45–20.55 estimating theoretical output indices, 1.99–1.103 Fisher ideal index, 17.27–17.31, 17.38–17.42 Fisher-Shell output index, 17.15–17.60 intermediate input indices, 1.117–1.118, 17.61–

17.76 Lloyd-Moulton index, 1.116, 9.70, midyear indices, 17.88–17.99 overview, 1.88–1.93, 17.1–17.14 relationship with Divisia approach, 17.100–17.105 representativity bias, 1.110–1.113 revenue maximizers, 1.87–1.88, 1.96 substitution bias, 1.88 superlative indices, 1.104–1.109, 17.43–17.60 theoretical output index, 1.94–1.98 Törnqvist index as approximation to output index,

17.32–17.37 value-added deflators, 1.117–1.119, 17.77–17.87

Economic theoretic index, 1.88, 1.91–1.92. See also Theoretical output price index

Economically significant prices, (g) Edgeworth-Marshall cross, 10.35–10.40 Edgeworth price index, (g) EDI. See Electronic data interchange Editing, 1.335–1.338, 9.147–9.179, (g) EFQM. See European Foundation for Quality Man-

agement Excellence Model Elasticity

of demand 15.57 of substitution, 1.44, 1.116, 17.38

Electronic commerce, 1.183, 3.12–3.14, 3.53–3.55 Electronic data capture, 6.58 Electronic data interchange, 3.55 Electronic data transfer, 6.59 Elementary aggregates, (g). See also Value aggregates

adding items, 8.46–8.47 aggregation structure, 9.9–9.10

axiomatic approach, 9.25–9.30(t) chained index, 9.40–9.45 change in price index, 8.40 classification system, 4.19–4.20(t) compilation of elementary price indices, 1.257–

1.266, 9.16–9.24(t) composition of, 9.7–9.8 consistency in aggregation, 9.46–9.47 coverage of weights, 4.28–4.31 deleting items, 8.46–8.47 direct index, 9.40–9.45 economic approach, 9.31–9.39 heterogeneity of products, 1.137–1.138 heterogeneous, 1.160–1.167 homogeneous products, 1.155–1.159 introduction of new aggregates, 9.119–9.121 missing price observations, 9.48–9.63 price index calculation, 9.6–9.74 representative products, 1.136 revenue weights, 1.133–1.134 sources for weights, 4.32–4.46 treatment of missing prices, 9.49–9.54(t) treatment of missing products, 9.55–9.63(t) types of, 20.7 weighting, 1.139–1.140 weights within elementary aggregates, 9.11–9.15

Elementary index number formula, 20.11, 20.15–20.20, 20.83

Elementary price index, 1.133–1.167, (g). See also Elementary aggregates

axiomatic approach, 1.147–1.150, 20.31–20.44 calculation of, 1.260–1.266, 9.16–9.24(t) economic approach, 1.151–1.167, 20.45–20.55 ideal elementary indices, 20.7–20.14 numerical relationships between indices, 20.24–

20.30 overview, 20.1–20.6 relationships between formulas, 1.141–1.146 revenue weights, 1.133–1.134 sampling approach, 20.56–20.74 stochastic approach, 20.75–20.83 used in practice, 20.15–20.23

Employment Cost Index, 14.64 Enterprise, 14.21, (g) Enterprise surveys, 1.247–1.249, 4.35–4.36 Equilibrium

hedonic prices, 21.22–21.23 Error, (g). See also Bias

concepts of a true or good index, 11.18–11.20 coverage of PPIs, 11.23–11.26 detection of, 9.148–9.149 dynamic universe, 11.30–11.32 identifying, 9.154–9.155 from inappropriate use of a PPI, 11.21–11.26


642

Error (continued) nonsampling error, 11.16–11.17 PPI valuation and, 11.27 response error, 11.33 sampling error, 5.10, 11.11–11.15, 11.28–11.29 sources of, 11.1–11.9(t)

Escalated contract prices, 10.123. See also Contract escalation

Establishment census, 1.245–1.246. See also Business census

Establishments, 1.182, (g) aggregation, 18.4–18.23 disappearance of, 8.38 economic approach, 17.2 institutional units, 14.14–14.15 intermediate input price index, 17.61–17.76 introducing new samples, 5.89–5.95 recruiting, 5.73 revenue function, 18.5 selecting products and transactions, 5.74–5.79(t) selection of, 5.66–5.72(t) value-added deflator, 17.77–17.87

Estimation, 11.17. See also Calculation of price indices

Estimator, 11.11 EU. See European Union European Foundation for Quality Management Excel-

lence Model, 12.82–12.84, 12.87–12.88 European Union

Statistical Office of the European Communities, 6.16

Eurostat Classification of Products by Activity, 1.187, 3.76–3.77

Evolutionary goods, 1.242, 4.62–4.64, 8.20, 8.27, 8.31, 21.73–21.76, (g)

Exact hedonic index, 21.63–21.69 Excise duty, 2.47 Expert judgment, 7.111–7.112 Explicit quality adjustment, 1.211, 1.217, 1.232–

1.237, 7.110–7.151, 21.5 Explicit weights, 1.305, 4.48–4.52 Export Price Index, 1.177, 2.38, 14.2, 14.53–14.54(t) Export prices, 2.48, 3.10–3.11, 3.45–3.48 External goods and services account, 14.16 External trade, 14.41–14.42(t) Factor reversal test, 1.75–1.76, 16.59, (g) Factory gate price, 2.42, (g) Farm gate price, 3.43, (g) Farm Product Price Index, 10.13–10.17 FEPI. See Final expenditure price index Final demand, 2.59, 3.5–3.6, 14.11 Final-demand data set, 19.6–19.22(t)

Final-demand deflator, 18.61–18.80 Final expenditure price index, 2.51, 2.65, (g) Financial institutions. See Commercial banking

industry FIOPI. See Fixed-input output price index Fisher, Irving, 2.5–2.6 Fisher cross, 10.38 Fisher ideal price index. See also Fisher price index

as average of observable bounds, 17.27–17.31 final-demand commodities, 19.16(t) overview, 17.38–17.42 test approach, 16.56–16.59

Fisher price index, (g) additive percentage change decompositions,

19.27–19.29(t) annual chain-link index, 22.37–22.45(t) as average of Paasche and Laspeyres indices,

15.19–15.24 chained rolling-year index, 22.49–22.54(f)(t) defined, 1.51 Fisher formula, 1.51, 15.19, 16.56 hedonic output price index, 21.45 midyear price indices, 19.24–19.26(t) national Fisher intermediate input price index,

18.26 national Fisher output price index, 18.21 relationship with Lowe index, 1.39–1.40 superlative index, 1.102, 1.104–1.109 year-over-year index, 22.19–22.35(t)

Fisher-Shell output price index, 17.15–17.37 Fixed-base price index

compared with chain indices, 15.77–15.98 final-demand commodities, 19.8(t) midyear indices, 19.23–19.26(t)

Fixed-basket price index, 15.3–15.4, (g and g appendix)

chain index, 1.56–1.59 Fisher index, 15.19–15.24 interrelationships, 1.36–1.41 linking, 1.55–1.56 pure price index theory, 15.25–15.32 symmetric averages, 15.19–15.33 Walsh index, 15.25–15.32. See also Walsh price

index Fixed basket test, 16.36, (g) Fixed-input output price index, (g)

origins of, 1.13 quality adjustment, 7.44–7.51, 7.55–7.57 theoretical, 1.91–1.92, 15.101

Fixed-weight price index, (g) Fleetwood, William, 2.3 Flexible functional form, 1.101, 17.85, 18.15 fob price. See Free on board price FOIPI. See Fixed-output input price index

Index

643

Formula approximation error, 20.12 Forward linking, 1.271, 9.117 FPPI. See Farm Product Price Index Free on board price, 14.42, (g) Fundamental Principles of Official Statistics, 13.3,

13.48 GDDS. See General Data Dissemination System GDP. See Gross domestic product GDP deflator, 14.62–14.63, 14.67. See also Value-

added deflator Geary-Khamis quantity index, 1.77 General Data Dissemination System, 13.50–13.51 General government, 14.13–14.15(b) General Industrial Classification of Economic Activi-

ties within the European Communities, 1.185, 3.67(t), 4.18, 20.7, (g)

Geographic coverage, 3.45–3.48 Geometric average of price relatives, 1.142–1.144,

4.52 Geometric Laspeyres price index, 1.46–1.49, 9.33, (g)

for elementary aggregates, 9.65–9.66 final-demand commodities, 19.12(t) seasonally adjusted, 22.90–22.97(t)

Geometric mean, 1.83, 9.18, 15.29, 16.56, 16.128, 17.34, 18.18, 19.14(t), 20.20

Geometric Paasche price index, 1.46–1.49, (g) final-demand commodities, 19.12(t)

Geometric-type midyear indices, 19.23–19.26(t) Geometric Young index, 1.46–1.49 Globalization

impact of, 1.183, 3.12–3.14 Goods, (g) Goods-producing sectors, 3.1 Gross domestic product

international comparisons, 14.66 nominal, 17.1 production and expenditure approaches, 14.11 production approach, 1.93

Gross output index, 1.290, 2.44 Gross sector output, (g) Gross value added, (g) Harmonic average, 20.19 Harmonic average of price relatives, 1.142–1.143,

9.68 Harmonic elementary index, 20.19–20.20, 20.30,

20.62, 20.83 Harmonic mean

weighted, 15.15, 15.38, 19.14, 20.80 Harmonic mean of price relatives, 1.142–1.143, 9.68,

(g)

Harmonic mean price index, (g). See also Harmonic mean

Harmonised Indices of Consumer Prices, 2.25 Harmonized Commodity Description and Coding

System, 3.73 Hedonic analysis, 1.235–1.237 Hedonic index, 7.168–7.191

dummy variables on time, 21.55–21.57 exact hedonic index, 21.63–21.69 hedonic regressions, 21.55–21.57 new goods and services, 21.72–21.76 period-on-period hedonic indices, 21.58–21.62 sampling and, 8.11–8.14 superlative index, 21.63–21.69 theoretical characteristics price indices, 21.53–

21.54 unweighted hedonic index, 21.70–21.71 unweighted index number formula, 21.70–21.71 uses of, 21.52

Hedonic method, (g) coefficients, 7.136–7.137, 7.144 difference between hedonic and matched indices,

7.189–7.191 dummy variables on time, 7.170–7.172 hedonic price indices, 7.168–7.191 implementation of, 7.138–7.145 indirect adjustment, 7.145 limitations of, 7.146–7.151 period-on-period indices, 7.173–7.178 predicted vs actual, 7.139–7.141 predicted vs predicted, 7.142–7.144 principles of, 7.126–7.135(f)(t) regression data, 7.1 (appendix) superlative and exact hedonic indices, 7.179–7.188

Hedonic prices alternative theoretical formulation, 21.33–21.48 consumer side, 21.13–21.17 demand side, 21.13–21.17 equilibrium, 21.22–21.23 imperfect competition, 21.49–21.51 implicit markets and, 21.12–21.51 items as tied bundles of characteristics, 21.12(f) markups, 21.49–21.51 meaning of, 21.24–21.32 model price functions, 21.34 producer side, 21.18–21.21 supply side, 21.18–21.21

Hedonic regressions, 21.8, 21.12, 21.55–21.57 changing tastes and technology, 21.85 econometric issues, 21.77–21.93 functional form, 21.81–21.84 identification and appropriate estimators, 21.78–

21.80 multicollinearity, 21.91–21.92


644

Hedonic regressions (continued) omitted variable bias, 21.93 weighting, 21.86–21.90

Heterogeneity of products, 1.137–1.138 HICPs. See Harmonised Indices of Consumer Prices Hidden economy, (g) High inflation

price collection issues, 6.25–6.27 High-technology sectors

quality adjustment, 7.161–7.198 Higher-level index, (g)

alternatives to fixed weight indices, 9.139–9.146 calculation of, 1.267–1.268, 9.75–9.146 chain linking, 9.107–9.109 chained index calculation, 9.114–9.116(t) chaining indices using linking coefficients, 9.117–

9.118(t) data editing, 9.147–9.185 decomposition of index changes, 9.135–9.138(t) factoring the Young index, 9.94–9.96 frequency of reweighting, 9.110–9.113 introducing new elementary aggregates, 9.119–

9.121 introducing new goods, 9.124–9.130 introducing new higher-level indices, 9.122–9.123 introducing new weights, 9.107–9.109 long-term links, 9.131–9.134 Lowe index, 9.89–9.93 partial reweighting, 9.124–9.130 PPIs as weighted averages of elementary indices,

9.78–9.96(t) price-updating from weight reference period, 9.97–

9.106(t) production and maintenance of, 1.269–1.272 short-term links, 9.131–9.134 target indices, 9.75–9.77 Young index, 9.89–9.96

Homogeneity tests, 16.39–16.44, 16.102–16.108, 16.135

Homogeneous products, 1.154–1.159, 20.59 Hospital industry

treatment of products, 10.9, 10.290–10.311 House building industry, 10.147–10.157 Household enterprises, 4.65–4.66 Households, 14.13–14.15(b) HS. See Harmonized Commodity Description and

Coding System Hybrid weights, 1.34 Hyperinflation

price collection issues, 6.25–6.27

ICPI. See Intermediate Consumption Price Indices

Ideal elementary indices, 20.7–20.14 Identification problem, 21.25 Identity test, 1.62, 9.25, 16.36, 16.101, 16.135, 20.32,

(g) IDI. See Implicit deflator index IMF Dissemination Standards Bulletin Board, 13.50 Implicit deflator index, 14.59 Implicit markets

hedonic prices and, 21.12–21.51 Implicit quality adjustment methods, 1.211, 1.217,

1.219–1.231, 7.80–7.109 Implicit Walsh index

final-demand commodities, 19.16(t) Implicit weights, 1.305, 4.48–4.52 Import Price Index, 14.2, 14.53–14.54(t) Import prices, 2.48, 3.10–3.11, 3.45–3.48 Imputation, 1.224, 1.228–1.230, 7.73 Imputation of unavailable prices, 9.48–9.63

seasonal products, 22.78–22.86(f)(t) Imputed expenditures, 14.32–14.33 Imputed price, (g) Index estimation strategy, 8.48–8.49 Index item, (g) Index linking, 2.11. See also Linking Index number formulas, (g appendix)

choice of, 1.125–1.132 index number theory, 1.18 superlative indices, 1.16–1.17

Index number problem, 15.1–15.3, 15.27, 16.12, (g) Index number theory, 1.18, 15.34–15.98

annual base-year quantities, 15.34–15.49 annual weights, 15.34–15.65 chain index, 1.56–1.59 decomposition of value aggregates, 15.7–15.18 discrete approximations, 15.73–15.76 Divisia index, 1.60, 15.66–15.76 Fisher index, 15.19–15.24 fixed-base vs chain indices, 15.77–15.98 fixed basket index, 1.36–1.41, 1.55–1.59 geometric indices, 1.46–1.49 index number purpose, 1.19 Laspeyres index, 1.24–1.35, 15.12–15.18 Lowe index, 1.20–1.23, 15.34–15.54 midyear indices, 15.50–15.54 monthly price indices, 15.34–15.65 overview, 15.1–15.6 Paasche index, 1.24–1.33, 15.12–15.18 product test, 15.7–15.11 relationship between Lowe and Laspeyres indices,

15.102–15.104 relationship between Paasche and Laspeyres indi-

ces, 15.99–15.101 relationship between Young index and its time an-

tithesis, 15.105–15.108

Index

645

seasonal products and, 22.6 symmetric averages of fixed-basket indices,

15.19–15.33 symmetric index, 1.50–1.54 theory of pure price index, 15.25–15.33 Walsh index, 15.25–15.32. See also Walsh price

index Young index, 1.42–1.45, 15.55–15.65. See also

Young index Index point effect, 9.138(t) Index reference period, 9.83, (g) Index terminology, (g appendix) Indexation of contracts, 2.54–2.55, (g). See also Con-

tract escalation Individual consumption expenditures, 14.29 Industrial classifications, 1.185, 3.66–3.72 Industrial coverage, 1.176, 3.1–3.3 Industry, (g). See also specific industry

treatment of products, 10.1–10.10 Industry aggregation, 2.60, 4.5, 4.19–4.20, 13.37 Industry associations, 4.42 Industry-based stage-of-processing indices, 14.50. See

also Stage of processing Industry labor productivity, 2.68 Industry specialists, 6.101 Industry surveys, 1.247–1.249, 4.35–4.36 Inflation

core inflation, 13.27–13.29 CPI vs PPI as measure of, 14.55–14.57 PPI as short-term indicator, 2.52 price collection issues, 6.25–6.27 sources of, 2.42–2.43

Information technology, 10.269 Input data

correcting, 9.174–9.178 missing price observations, 9.180–9.185 nonstatistical checking, 9.156–9.162 statistical checking, 9.163–9.170 treatment of outliers, 9.179 verifying, 9.174–9.178

Input editing, 1.335, (g). See also Data editing Input PPI, 1.3, (g). See also Intermediate input price

index Input price indices, 2.40 Institutional unit, 14.13–14.15(b), (g) Insurance industry

treatment of products, 10.9, 10.239–10.263 Inter-Secretariat Working Group on Price Statistics,

2.26, 2.30, 2.32–2.33 Intermediate basket, (g) Intermediate consumption, 7.68, 14.5, 14.48, 17.1, (g) Intermediate Consumption Price Indices, 14.45 Intermediate demand, 3.6 Intermediate input price index, 1.117–1.118

aggregation, 18.39–18.45 economic approach, 17.61–17.76

Intermediate inputs, 2.40, (g) International standard classification systems, 3.65–

3.79 International Standard Industrial Classification of All

Economic Activities, 1.185, 3.66–3.67(t), 10.2, (g)

International standards, 2.17–2.33 International transactions, 1.299 International Working Group on Price Indices, 2.21 Internet, 3.55

PPI dissemination, 13.65–13.68 price data collection, 6.56–6.57

Intersection universe, 8.4, 8.51, 21.2 Interviews, 6.52–6.55 Intracompany transfer price, 1.180, 3.34–3.37, (g). See

also Transfer price Invariance tests, 16.45–16.49, 16.109–16.114 Invariance to changes in the units of measurement

test, 1.62, 16.46, 16.110, 16.135, (g) Invariance to proportional change in current- or base-

quantities test, 1.78, 15.31, 16.43, 16.104, (g) Inverse proportionality in base-year prices test, 16.42,

16.103, 20.32, (g) Irrelevance of price change with tiny value weights,

16.120 ISIC. See International Standard Industrial Classifica-

tion of All Economic Activities ISO 9000, 12.85–12.88 IT. See Information technology Item, (g) Item replacement, 8.6–8.10 Item rotation, (g) Item substitution, (g) IWGPS. See Inter-Secretariat Working Group on Price

Statistics Jevons price index, 9.70, (g)

axiomatic approach, 1.148–1.150 compilation of elementary price indices, 9.18–

9.38(t) economic approach, 1.161, 1.164, 1.166 elementary index, 1.264, 20.18, 20.30, 20.41 final-demand commodities, 19.8–19.9(t) in imputations, 7.91–7.92 Jevons formula, 9.18, 16.78, 20.83 relationships with other elementary indices, 1.143–

1.144, 20.24–20.30 treatment of missing prices, 9.52–9.54(t) treatment of missing products, 9.55–9.63(t) uses of, 1.83

Judgmental sampling, 1.317, 4.49


646

Konüs and Byushgens price index, 15.90, 15.92 Konüs-type hedonic output price index, 21.36 Lagged prices, 6.115 Laspeyres price index, (g and g appendix)

aggregation, 18.32–18.38 annual chain link index, 22.36–22.44(t) chained, 1.58–1.59 chained rolling-year index, 22.47–22.54(f)(t) decomposing current value changes, 1.29–1.30 for elementary aggregates, 9.65–9.66 elementary index, 20.56 equations, 15.12–15.18 final-demand commodities, 19.8(t) formulas, 1.25, 1.66, 9.65, 15.42 geometric, 1.46–1.49, 9.33, 9.47, 9.65–9.66,

16.126, 19.12–19.14(t) index of net output prices, 18.29 intermediate input price index, 1.117–1.119, 18.25 national Laspeyres output price index, 18.19 Paasche and Laspeyres bounding test, 1.62, 1.99,

16.52, 17.25(f), (g) quantity index, 1.29, 15.16 quantity weights, 4.9 ratio of two Laspeyres indices, 1.33 relationship with Fisher index, 1.39 relationship with Lowe index, 1.39, 15.102–15.104 relationship with Paasche index, 1.36–1.39, 15.99–

15.101 special case of Lowe index, 1.24–1.28 test performance, 1.66, 1.76, 16.61 value-added deflators, 18.46–18.48 year-over-year index, 22.22–22.34(t)

Laspeyres-type hedonic output price index, 21.39 Legal services industry

model pricing, 10.289 standard specifications, 10.289 treatment of products, 10.9, 10.272–10.289

Levels approach to index number theory, 16.11–16.30 Linear functional form, 21.83 Linking

backward, 1.271, 9.118 forward, 1.271, 9.117 with overlapping prices, 9.60 quality adjustment, 1.219–1.220, 7.108

Linking coefficients chaining indices, 9.117–9.118(t) partial reweighting, 9.127

List price, 1.178, 6.21–6.24, (g) LKAU. See Local kind of activity unit Lloyd-Moulton price index, 1.116, 9.70, (g) Local kind of activity unit, 14.14, (g) Long-term links, 9.131–9.134

Lowe, Joseph, 2.4 Lowe price index, (g and g appendix)

with annual base-year quantities, 15.34–15.49 chained, 1.57–1.58 formula, 1.22, 15.15 interrelationships, 1.39–1.41 midyear indices, 15.50–15.54 with monthly price indices, 15.34–15.49 ratio of two Lowe indices, 1.31–1.32 relationship with Fisher index, 1.39–1.40 relationship with Laspeyres index, 1.39, 15.102–

15.104 relationship with Paasche index, 1.39, 15.49 relationship with Young index, 9.89–9.93 representativity bias, 1.110–1.112 seasonally adjusted, 22.91–22.97(f)(t) test performance, 1.67–1.69 test properties, 16.133–16.137 time reversal test, 1.67–1.68 updated, 1.34–1.35 uses of, 1.20–1.23

Lower-level index, (g). See also Elementary aggre-gates

Lower-level substitution bias, 11.43–11.44 Macroeconomic aggregation, 2.61 Manufacturing sector

value-added deflators, 19.40–19.43(t) Margin price, 10.170 Marginal unit revenue, 21.20 Market price, 1.328, 3.18, 6.88, (g). See also Transac-

tion prices Markups, 21.49–21.51 Marshall-Edgeworth price index, 1.127, 15.28, 15.31,

17.89, (g) final-demand commodities, 19.16(t)

Matched-models method, 1.197, 7.12, 7.14–7.32, (g) missing products, 7.15–7.22, 8.1 new products, 7.27–7.32, 8.1 sampling issues, 7.23–7.26, 8.1

Matched products method, (g) Matched universe, 21.4, 21.6 Maximizing behavior, 1.94, 1.162–1.163, 17.21, 20.46 Mean value test, 16.135, 20.32 Mean value test for prices, 1.62, 16.50, 16.115, (g) Mean value test for quantities, 16.51, (g) Methodological statement, 13.47 Microeconomic approach, (g) Midperiod price index, (g) Midyear indices, 15.50–15.54, 17.88–17.99

artificial data set, 19.23–19.26(t) Missing price observations, 1.263, 9.48–9.63 Missing products, 7.15–7.22

Index

647

Model pricing, 6.83, 10.122, 10.129 Modified Laspeyres price index, 7.82, (g), (g appen-

dix) Monetary expenditures, 14.32 Monotonicity in prices, 1.62, 16.53, 16.116, 20.32, (g) Monotonicity in quantities, 16.53, (g) Monotonicity tests, 16.53–16.55, 16.135 Month-to-month index, 9.19

seasonal products, 22.9–22.11, 22.63–22.77(t), 22.97

Monthly chained index, 9.19, 9.62 Monthly price indices, 15.34–15.65. See also Producer

price index, calculation of Motor vehicles industry

treatment of products, 10.7, 10.100–10.116 Moving-year indices. See Rolling-year indices MPI. See Import Price Index Multifactor productivity, (g). See also Total factor

productivity Multicollinearity, 21.91–21.92 Multiperiod identity test, 15.95 Multiplicative quality adjustment, 7.76(t) Multitiered stratification, 5.34 Multitiered weighting system, 4.55 NACE. See General Industrial Classification of

Economic Activities within the European Communities

NAICS. See North American Industrial Classification System

Narrowly defined unit value, 20.10 National accounts, 1.250–1.251, 4.37–4.38. See also

System of National Accounts National accounts deflator, 2.53 National intermediate input price index, 18.24–18.27

artificial data set, 19.52–19.55(t) National output price index, 18.4–18.23

artificial data set, 19.48–19.51(t) National revenue function, 18.5 National two-stage aggregation

artificial data set, 19.61–19.65(t) National value-added deflator, 18.28–18.31

aggregation of establishment deflators, 18.57–18.60

artificial data set, 19.56–19.60(t) compared with final-demand deflator, 18.61–18.80

Net of intersectoral sales, 2.44–2.46 Net output index, 1.290 Net output PPIs, 14.46–14.48 Net output weights, 4.12–4.16 Net revenue function, 17.79 Net sector output, (g) Net transaction prices, 3.17–3.18

Net value added, (g) New establishment bias, 11.46–11.47 New-good problem, (g) New goods, 1.242–1.243, (g)

defining, 8.17–8.21 identification and detection, 8.22–8.25 issues for inclusion of, 8.22–8.25 methods for introducing, 8.26–8.37(t), 8.38 partial reweighting, 9.124–9.130 quality change, 21.2–21.11

New goods and services, 1.242–1.243 hedonic indices, 21.72–21.76

New goods bias, 11.38 New product weights, 4.62–4.64 New products. See also New goods

matched-models method, 8.1 quality adjustment issues, 7.27–7.32, 7.70

Nominal prices, (g) Nonprofit institutions serving households, 14.13–

14.15(b) Nonbuilding construction, 10.158–10.166 Noncomparable replacement, 7.15, 7.138, 7.201–

7.202 Nonfinancial corporations, 14.13–14.15(b) Nonmarket goods and services, 3.8–3.9 Nonmarket transactions, 1.295, (g) Nonprobability sampling, 1.317, 5.16–5.29, (g) Nonresidential building, 10.149–10.157 Nonresponse bias, 5.6, (g) Normalized Rothwell index, 22.88–22.89(f) North American Industrial Classification System,

1.185, 3.68–3.71 North American Product Class System, 3.78–3.79 NPISHs. See Nonprofit institutions serving house-

holds Numerical data, 1.123–1.124. See also Artificial data

set Observation, 6.18–6.24, (g) Observation point, (g) Offer function, 21.21 Office staff

quality checks by, 12.42–12.46 OLS. See Ordinary least squares regression Omitted variable bias, 21.93 Optimizing behavior, 1.94, 17.15 Option cost adjustments, 7.118–7.125 Order price, 3.15–3.16, (g) Ordinary least squares regression, 7.128 Other subsidies on production, (g) Other taxes on production, (g) Ottawa Group, 2.21, 2.33 Outliers, (g)


648

detection of, 9.148–9.49 identifying, 9.154–9.155, 9.160 treatment of, 9.179

Output, (g) Output aggregator function, 17.101 Output editing, 1.337, 1.352, (g) Output PPI, (g) Output price index

aggregation, 18.39–18.45 theoretical, 1.94–1.103, 17.21–17.42, 21.45 Törnqvist price index as approximation to, 17.32–

17.37 Output prices, 2.38, 2.43 Output producer price index

uses of, 1.3 Output value aggregate, 14.27(b) Outsourcing, 3.57 Overall mean imputation, 1.229–1.230, 7.90–7.104(t) Overlap quality adjustment method, 7.80–7.89(t),

7.203–7.204 Overlapping quality adjustment, 1.219–1.223 Own share price weighting, 16.118 Paasche and Laspeyres bounding test, 1.62, 1.99,

16.52, 17.25(f), (g) output price index, 17.25(f)

Paasche price index, (g) aggregation, 18.32–18.38 annual chain link index, 22.36–22.44(t) chained rolling-year index, 22.47–22.54(f)(t) decomposing current value changes, 1.29–1.30 equations, 15.12–15.18 final-demand commodities, 19.8(t) formula, 1.27, 15.47 geometric, 1.46–1.47, 16.126, 19.12 (t) index of net output prices, 18.29 intermediate input price index, 1.117–1.119, 18.25 national Paasche output price index, 18.20 quantity index, 1.29, 15.16 relationship with Fisher index, 1.39 relationship with Laspeyres index, 1.36–1.39,

15.99–15.101 relationship with Lowe index, 1.39, 15.49 special case of Lowe index, 1.24–1.28 test performance, 1.66, 1.76, 16.61 value-added deflators, 18.46–18.48 year-over-year index, 22.22–22.34(t)

Paasche-type hedonic output price index, 21.41 Palgrave price index, 19.12–9.13(t), (g) Partial reweighting, 9.124–9.130 PCE. See Personal consumption expenditures Performance management, 12.65–12.74

Period-on-period hedonic indices, 7.173–7.178, 21.58–21.62

Period prices, 6.6–6.14 Personal consumption expenditures, 3.4. See also In-

dividual consumption expenditures Personal interviews, 6.52–6.54 Petroleum refining industry

treatment of products, 10.5, 10.59–10.70 PMCs. See Profit-maximizing centers Point-in-time prices, 1.325, 6.4–6.5, 6.14, (g) Population coverage, 1.175–1.177, 3.1–3.14

class of buyer coverage, 3.4–3.7 e-commerce, 3.12–3.14 economic activities, 3.1–3.3 export coverage, 3.10–3.11 globalization considerations, 3.12–3.14 import coverage, 3.10–3.11 nonmarket goods and services, 3.8–3.9

Positivity, 1.62, 16.35, 16.101, 16.135, (g) Postal surveys, 6.43–6.49 PPI. See Producer price index PPPs. see Purchasing power parities PPS. See Probability proportional to size Press releases, 13.41–13.47, 13.80(f*) Price basis, 7.46–7.49, 7.72, 21.1, 21.3–21.4 Price bouncing, 1.261, 9.23, 9.69, 19.39 Price-bouncing test, 20.33 Price collection. See also Sampling

algorithms, 12.52–12.53 auditors, 12.27–12.41 automated telephone data submission, 6.50–6.51 backchecking, 12.33–12.38 confidentiality issues, 6.107 continuity, 1.202–1.205, 12.19–12.20 contracting out, 12.8 criteria that affect product's price, 6.32(t) data entry queries, 12.21–12.25 dealing with refusals, 6.106–6.107 delinquency follow-up, 6.102–6.104 dispersion index report, 12.50 E-mail collection, 6.60 electronic data, 6.58–6.59 feedback, 12.26 field procedures, 6.66–6.104 forms, 6.116(f*) frequency, 1.199, 1.325, 6.15–6.17 in-house, 12.6–12.10 industry specialists' role, 6.101 inflation issues, 6.25–6.27 Internet data provision, 6.56–6.57 lagged prices, 6.115 list prices, 6.21–6.24 medium, 6.42–6.65 methods, 1.201, 1.323–1.334, 6.42–6.65

Index

649

mode of, 12.6–12.10 monitoring data collection, 12.29–12.32 organization and management, 1.274–1.277, 12.1–

12.3 overview, 6.1 period prices, 6.6–6.14 personal interview method, 6.52–6.54 point-in-time prices, 6.4–6.5, 6.14 postal survey, 6.43–6.49 price discounts, 6.67–6.80 price discrimination, 6.92–6.98 price observation, 6.18–6.20 procedures, 6.35–6.104 process auditing, 12.33–12.38 process initiation, 12.4–12.10 product specification, 1.200, 6.28–6.34 published sources, 6.61–6.64 purposive sampling, 1.192–1.197 quality changes, 6.81–6.82 quality checks, 12.27–12.53 quality in field data collection, 12.11–12.26 questionnaire design, 6.36–6.41 quote report, 12.51 random sampling, 1.191–1.197 rebates, 6.69–6.80 reducing respondent workload, 6.108 regulatory data sources, 6.65 reports, 12.47–12.51 respondent relations, 6.105–6.108 sampling issues, 6.89–6.91 seasonal products, 6.116 self completion method, 6.43–6.49 specification changes, 6.81–6.82 telephone interview method, 6.55 timing of, 1.199, 6.2–6.30 training programs, 12.12–12.16 transaction descriptions, 12.17–12.18. See also

Product specification transfer prices, 6.88 unique products, 6.83–6.86 unit values, 6.87 verification, 6.109–6.114

Price collectors, 1.275, 7.15, 8,16 Price coverage, 1.178–1.181

agricultural prices, 3.43 average prices, 3.25–3.29 contract prices, 3.19–3.21 discounts, 3.38–3.42 intracompany transfer prices, 3.34–3.37 net transaction prices, 3.17–3.18 order prices, 3.15–3.16 shipment prices, 3.15–3.16 spot market prices, 3.22–3.24 structured product descriptions, 3.44

subsidized prices, 3.30–3.33 surcharges, 3.38–3.42

Price discounts, 6.67–6.80 Price discrimination, 6.92–6.98 Price index, (g)

defined, 15.7 higher-level, 1.188, 1.267–1.268, 1.269–1.272.

9.46, 9.75–9.146 lower-level, 1.188–1.189, 9.46. See also Elemen-

tary aggregates uses of, 1.1

Price level, 16.4 Price observation, 6.18–6.20 Price reference period, 1.21–1.22, 1.33–1.35, 9.83, (g) Price relative, 1.26, 1.142–1.144, 5.95, 7.47, 9.18(t),

(g) Price reversal test, 16.49, 16.59, 16.61–16.63, (g) Price survey

objectives of, 5.7–5.13 sampling problems, 5.6

Price updated weights, 1.35, 9.94, 9,97, 9.101–9.105(t)

Price updating, (g and g appendix) Pricing point, (g) Pricing to constant quality, 1.327, 1.340, 6.89, (g) Probability proportional to quantities sold, 1.158 Probability proportional to revenue shares, 1.163 Probability proportional to size, 5.21, (g) Probability sampling, 1.317, 4.57–4.58, 5.16–5.29,

5.74–5.79, (g) Probability selection methods, 5.6 Process auditing, 12.33–12.38 PRODCOM. See Eurostat Classification of Products

by Activity Producer price index, (g)

alternative indices, 13.30–13.34 analysis of contributions to change, 13.21–13.24 background, 2.34–2.41 for business services, 13.34 calculation of, 1.257–1.273, 1.351–1.357, 9.6–

9.146 classification structure, 1.300–1.302 combinations of, 2.59–2.68 concepts, 1.173–1.187, 11.18–11.20 coverage. See Price coverage determining objectives, scope and conceptual basis

of, 1.286–1.293 development steps, 1.282–1.285 documentation, 12.72–12.73 economic commentary and interpretation, 13.25–

13.26 electronic data, 9.73–9.74 importance of quality management, 12.87–12.88 for industrial activities, 13.33


650

Producer price index (continued) industrial coverage, 1.176, 3.1–3.3 input, 1.3 international standards, 2.17–2.33 introducing changes, 12.62 maintaining samples of businesses, 1.371–1.373 methodological statement, 13.47 monthly compilation, 12.56–12.58 monthly consultations, 12.61 net output PPIs, 13.31–13.32 official price indices, 2.10–2.16 organizational structure and responsibilities,

12.54–12.55 origins of, 1.13, 2.2–2.9 output, 1.3 population coverage, 1.175–1.177, 3.1–3.14 presentation of methodology, 13.71–13.74 price collection and editing, 1.323–1.339, 6.109–

6.114 price coverage, 1.178–1.181 product coverage, 1.176, 5.36, 14.47 product specifications, 1.367–1.370, 6.28–6.34 production and quality assurance, 12.54–12.64 purpose of, 1.174, 2.34–2.50 quality adjustment, 1.340–1.350, 7.71–7.160 quality issues, 13.78–13.80 reviews, 12.74 reweighting, 1.374–1.380. See also Weights,

updating sample design, 1.315–1.322 seasonal adjustment and smoothing, 13.14–13.20 for services, 13.33 stage of processing, 13.30 statistical units, 1.182–1.183 subaggregate indices, 13.35–13.40 target indices, 9.75–9.77 time series types of presentation, 13.4–13.13 training requirements, 12.66–12.73 uses of, 1.9–1.15, 2.51–2.58, 11.21–11.26, 13.69–

13.70 valuation, 11.27 value-added, 1.3 weighting pattern, 1.303–1.314

Producer side hedonic prices and, 21.18–21.21

Producer's index, (g) Producer's price, 2.37, (g) Product-based stage of processing indices, 14.49 Product classifications, 1.186–1.187, 3.73–3.79, 4.17–

4.20(t) Product coverage, 1.176, 5.36, 14.47 Product detail in production account, 14.24(t) Product line, (g) Product line specification, (g)

Product rotation, (g) Product specification, 6.28–6.34, (g)

aspects of, 6.32–6.33 price collection, 6.28–6.34 purpose of, 6.31 recording, 5.84 structural descriptions, 3.44

Product substitution, 1.239–1.241, 7.153, 10.86 Product test, 15.7–15.11, 16.32, 16.98, (g) Product weights, 4.47–4.66 Production, 17.3, (g) Production account, 14.16, 14.21–14.27(t) Production cost adjustment, 7.118–7.125 Production function, 17.15–17.17, 19.16, 21.34 Production possibilities set, 17.15, 17.17, 17.24–

17.25, 17.27 Productivity analysis, 2.68 Products, (g) Profit function, 17.77–17.81 Profit-maximizing centers, 3.36 Proportionality in current prices test, 1.62, 16.39,

16.102, 20.32, (g) Proportionality test, 9.25, 16.41 Pseudo-superlative index, (g) Publication. See Dissemination issues Purchasers’ index, (g) Purchasers’ price, 1.293, 14.19–14.20, (g) Purchasing power parities, 14.66–14.68 Pure price change, 1.202, 1.340, (g) Pure price index, 1.95, 1.109, 1.127, 15.25–15.32, (g) Pure quantity index, 16.67 Purposive sampling, 1.192–1.197, 5.80–5.83 Quadratic mean of order r indices, 1.104, 17.43–17.54 Quality adjustment, (g). See also Quality change

additive vs multiplicative, 7.76(t) base vs current period adjustment, 7.77 carryforward, 7.109 chaining, 7.192–7.198 choosing a method, 7.152–7.160(f) class mean imputation, 7.105–7.106 comparable replacement, 7.107, 7.200 difference between hedonic and matched indices,

7.189–7.191 dummy variables on time, 7.170–7.172 expert judgment, 7.111–7.112 explicit methods, 7.110–7.151 hedonic approach, 7.126–7.151(f)(t). See also He-

donic method hedonic price indices, 7.168–7.191. See also He-

donic index high-technology sectors, 7.161–7.198 implicit methods, 7.80–7.109

Index

651

information requirements, 8.15–8.16 linked to show no price change, 7.108 long-run comparisons, 7.78, 7.199–7.213(t) methods, 7.73–7.75 noncomparable replacement, 7.201–7.202 option cost adjustments, 7.118–7.125 overall mean imputation, 7.90–7.104(t) overlap method, 7.80–7.89, 7.203–7.204 period-on-period indices, 7.173–7.178 petroleum refining industry, 10.67 producer price index, 1.340–1.350 product cost adjustment, 7.118–7.125 quantity adjustment, 7.113–7.117 rapid turnover of models, 7.161–7.198 short-run comparisons, 7.78, 7.199–7.213(t) single-stage indices, 7.211–7.213 statistical metadata, 7.79, 8.16 superlative and exact hedonic indices, 7.179–

7.188, 21.63–21.69 targeted mean imputation, 7.90–7.104(t) two-stage indices, 7.211–7.213 unavailable matched items, 7.71–7.79

Quality change. See also Quality adjustment adjusting prices, 1.209–1.212 assessing product quality at supply, 7.66–7.69 conceptual issues, 7.43–7.70 cost differences, 1.233–1.234 evaluation of, 1.213–1.218 explicit adjustments, 1.232–1.237 fixed-input output price index, 7.44–7.51 fixed-output input price index, 7.52–7.54 hedonic approach, 1.235–1.237. See also Hedonic

method implicit methods, 1.219–1.231 issues, 7.1–7.13 matched models method, 7.14–7.32 missing products, 7.15–7.22 nature of quality change, 7.37–7.42 new and disappearing items, 21.2–21.11 new products, 7.27–7.32 nonoverlapping qualities, 1.224–1.231 over-lapping qualities, 1.219–1.223 quantity adjustments, 1.232 sampling issues, 7.23–7.26 technology changes, 7.58–7.65 temporarily missing products, 7.33–7.34

Quality change bias, 11.34–11.37 Quality management, 12.75–12.78 Quality management models, 12.89–12.90 Quality management systems, 12.79–12.86 Quality of data collection

algorithms, 12.52–12.53 auditors, 12.27–12.28, 12.39–12.41 backchecking, 12.33–12.38

continuity, 12.19–12.20 data entry queries, 12.21–12.25 dispersion index report, 12.50 feedback, 12.26 importance of, 12.11 monitoring data collection, 12.29–12.32 process auditing, 12.33–12.38 quality checks, 12.27–12.53 quote report, 12.51 reports, 12.47–12.49 training programs, 12.12–12.16 transaction descriptions, 12.17–12.18

Quantity adjustment, 1.232, 7.113–7.117 Quantity index, 1.29, (g) Quantity relative, (g) Quantity reversal test, 1.62, 16.48, (g) Quantity weights, 1.189, 4.9–4.11, (g) Quantity weights symmetry test, 16.114 Questionnaire design, 6.36–6.41 Quote report, 12.51 Quoted prices, 10.122 Random sampling, 1.191–1.197, 5.4, 5.21, 5.64, 7.186 Ranking method, 5.75(t) Ratio of average prices, 1.141, 1.144. See also Dutot

index Ratio of harmonic means, (g) Ratio of harmonic means price index, (g) Rebased Young index, 15.61 Rebasing, (g). See also Reweighting Rebates, 6.69–6.80, (g) Record-keeping units, 1.182 Regional PPIs, 2.66–2.67 Registers, 1.252–1.253, 4.39–4.40, 4.56 Repeat recent real sale, 6.83 Replacement product, 1.214, 1.239–1.241, 8.43–8.45,

(g) quality adjustment, 7.15 treatment of missing products, 9.55–9.63(t)

Replacement universe, 8.4, 8.53–8.54, 21.3, 21.6 Reports on the Observance of Standards and Codes

Data Module, 12.75 Representative item, (g) Representative product basket, 15.12 Representative revenue shares, 15.55 Resampling, 1.206–1.208, 8.41–8.42. See also Sample

rotation Residential building

construction industry, 10.147–10.157 Resource-cost quality adjustment, 7.43, 7.51, 7.54–

7.65, 7.70 Retail trade industry

treatment of products, 10.9, 10.167–10.181


652

Retail turnover, 1.255, 4.43, 4.45 Retrospective superlative index, 9.146 Revenue, (g) Revenue function, 17.18, 18.5, 21.35 Revenue maximizers, 1.87–1.88, 1.96, 1.155, 17.101,

20.54 Revenue weights, 1.133–1.134, 1.244–1.256. See also

Value weights administrative data, 1.254 business register, 1.252–1.253 censuses, 1.245–1.246 customs records, 1.256 national accounts, 1.250–1.251 surveys, 1.247–1.249 turnover, 1.255 uses of, 1.244

Revolutionary goods, 1.242–1.243, 4.62–4.64, 8.20, 8.34, (g)

Reweighting, 1.374–1.380, (g). See also Weights, updating

frequency of, 9.110–9.113 Road construction industry, 10.158–10.160 Rolling-year indices, 1.171

seasonal products, 22.7–22.8, 22.46–22.54(f)(t), 22.55–22.63(f)(t), 22.91–22.98(t)

Root mean square error, 5.31, (g) ROSC. See Reports on the Observance of Standards

and Codes Data Module Rothwell formula, 10.18–10.21, 22.87 Rothwell index, 22.11, 22.87–22.89(f) Sample allocation, 5.55–5.62 Sample augmentation, 8.31–8.37(t), (g) Sample maintenance, 5.85–5.95 Sample rebasing, 8.27–8.30 Sample rotation, 1.241, 5.87–5.88, 8.11–8.14, 8.27–

8.30, 8.42, (g) Sample selection, 1.315–1.322, 5.63–5.84 Sample space, 8.6–8.10, 8.38 Sample structure, 5.42–5.49 Sampled products, 1.136 Sampling

bias, 1.194–1.196, 11.11–11.15 clustering of price-forming units, 5.50 cut-off sampling, 5.30–5.33 error, 11.11–11.15. See also Sampling error introducing a new sample of establishments, 5.89–

5.95 multitiered stratification, 5.34 objectives of price survey, 5.7–5.13 overview, 5.1–5.5 price collection issues, 6.89–6.91 price survey sampling problems, 5.6

prices, 1.188–1.190 probability vs nonprobability sampling, 5.16–5.29 product selection, 5.74–5.79(t) purposive, 1.192–1.197, 5.80–5.83 quality adjustment issues, 7.23–7.26 random, 1.191–1.197, 5.4, 5.21, 5.64, 7.186 recording product specifications, 5.84 recruiting establishments, 5.73 resampling, 1.206–1.208, 8.41–8.42. See also

Sample rotation sample allocation, 5.55–5.62 sample design, 5.14–5.62 sample maintenance, 5.85–5.95 sample rotation, 5.87–5.88 sample selection, 5.63–5.84 sample structure, 5.42–5.49 sampling frames, 1.193, 4.66, 5.1–5.3, 5.35–5.41 selection of establishments, 5.66–5.72(t) strategies, 5.96–5.102 stratification, 5.51–5.54 techniques, 5.16–5.34 transaction selection, 5.74–5.79(t)

Sampling approach elementary indices, 20.56–20.74

Sampling error, 5.10, 11.11–11.15, 11.28–11.32, 20.13, (g)

Sampling fractions, 4.36, 4.48, 4.57 Sampling frame, 1.193, 4.66, 5.1–5.3, 5.35–5.41, (g) Sampling intervals, 4.57, 5.40, 5.67–5.69, 5.76 Sampling issues

matching and, 8.1, 8.3–8.15 Sauerbeck price index, (g) Schultz midyear price index, 19.23–19.24(t) Scientific sampling, 1.317. See also Probability

sampling Scope, (g) SDDS. See Special Data Dissemination Standard Seasonal adjustment, 13.14–13.20, 22.12, 22.50,

22.61, 22.91–22.93 Seasonal baskets, 22.87 Seasonal products, 1.168–1.172, 22.1–22.4, (g)

adjustment factors, 22.57–22.59(f) agricultural, 10.18–10.26 annual basket indices, 22.78–22.86(t), 22.97 annual price index, 10.27–10.28 Bean and Stine Type C index, 22.87–22.89 carryforward of unavailable prices, 22.78–

22.84(f)(t) examples of, 22.3 forecasting rolling-year indices, 22.91–22.97(f)(t) imputation of unavailable prices, 22.78–22.86(f)(t) index number theory, 22.6 maximum overlap month-to-month price indices,

22.63–22.77(t)

Index

653

month-to-month index, 22.9–22.11, 22.98 predicting rolling-year index, 22.55–22.62(f)(t) price collection, 6.116 product data set, 22.14–22.15(t) rolling-year indices, 22.7–22.8, 22.12, 22.45–

22.54(f)(t), 22.98 Rothwell index, 22.11, 22.87–22.89(f), 22.94–

22.95 sources of fluctuations in prices and quantities,

22.2 strongly seasonal commodities, 22.1, 22.4, 22.9,

22.16 systematic biases, 22.4 Turvey's artificial set, 22.5(t), 22.14–22.15 weakly seasonal commodities, 22.1 year-over-year annual indices, 22.35–22.44(t) year-over-year monthly indices, 22.6–22.9, 22.16–

22.34(t), 22.54, 22.56–22.57, 22.98 Seasonally adjusted approximate rolling-year index,

22.58–22.61(f) Seasonally adjusted indices, 22.93–22.94(t) Sector, (g) SEHI. See Superlative and exact hedonic indices Selection errors, 11.14 Semifinished products, 3.6, 10.71 Semilogarithmic functional form, 21.83 Services, (g) Services sector, 3.3

value-added deflators, 19.44–19.47(t) Shipbuilding industry

treatment of products, 10.6, 10.117–10.138 Shipment price, 3.15–3.16, (g) Short-run comparisons, 7.78, 7.199–7.213(t) Short-term change Laspeyres price index, (g) Short-Term Indicators Regulation, 2.56 Short-term links, 9.131–9.134 Simple random sampling, 5.21 Single-stage indices, 7.211–7.213, 18.33 SNA. See System of National Accounts Social transfers in kind, 14.29, 14.31 Software consultancy industry

treatment of products, 10.9, 10.264–10.271 Special Data Dissemination Standard, 13.50 Specification pricing, 1.327, 6.83, (g) SPI. See Supply Price Index Splicing, (g). See also Linking Spot market price, 3.22–3.24, (g) Spreadsheets, 12.59–12.60 Staff

quality checks by, 12.42–12.46 Stage of processing, 1.12, 2.63, 14.49–14.52, (g) Stage of production, 1.12, 2.64, (g) Standard deviation, 5.56, 9.164, 9.167 Standard errors, 7.134, 20.76, 21.92

Statistical metadata system, 8.16 Statistical Office of the European Communities, 6.16 Statistical offices, 4.45–4.46, 9.16–9.17, 12.11, 12.15,

12.54, 12.63, 12.75–12.76, 13.62 Statistical units, 1.182–1.183

characteristics of, 3.49–3.52 identifying sample units, 3.53–3.57

Steel mill industry treatment of products, 10.5, 10.71–10.79

Stochastic approach, 16.77–16.96, (g) early unweighted approach, 16.77–16.82 elementary indices, 20.75–20.82 overview, 16.6 unweighted, 1.82–1.83 uses of, 1.80–1.81 weighted, 1.84–1.86, 16.83–16.96

Stratification, 5.51–5.54 Stratification variables, 5.11 Structured product descriptions, 3.44 Subaggregate indices, 13.35–13.40 Subsidies on products, (g) Subsidized prices, 1.180, 3.30–3.33, (g) Substitution bias, 1.88, 1.116, 11.40–11.47, 17.24–

17.25, (g) Substitution effect, 1.37, 1.39, 1.99, 17.28 Superlative and exact hedonic indices, 7.179–7.188,

21.63–21.69 Superlative index, (g)

aggregation, 18.32–18.38 approximation properties, 17.55–17.60 approximations to, 17.88–17.99 choice of, 1.107–1.109, 17.55–17.60 defined, 17.34 estimating theoretical output price indices, 1.99–

1.103 features of, 1.16 final-demand commodities, 19.16(t) hedonic indices, 21.63–21.69 output price indices, 17.43–17.54 as symmetric indices, 1.104–1.106

Superlative output price indices, 17.43–17.60 Supply and Use Table, 14.8, 14.12, 14.43–14.45(t),

14.53 Supply Price Index, 14.45, 14.59 Supply side

hedonic prices and, 21.18–21.21 Surcharge, 3.38–3.42, (g) Surveys, 1.247–1.249, 4.53–4.55

collection techniques, 6.35 postal surveys, 6.43–6.49

SUT. See Supply and Use Table Symmetric index, (g)

averages of fixed-basket indices, 15.19–15.33 superlative indices, 1.104–1.106, 15.33


654

Symmetric index (continued) uses of, 1.50–1.54

Symmetry tests, 16.45–16.49, 16.109–16.114, 20.32 System of National Accounts, 14.7, 14.13–14.15,

14.21–14.42, (g) System of price statistics

capital formation, 14.39–14.40(t) constructing supply and use flows system from ac-

counting data, 14.16–14.44 consumption, 14.28–14.38(t)(b) CPI vs PPI as measure of inflation, 14.55–14.57 establishments, 14.14–14.15 external trade, 14.41–14.42(t) framework for, 14.65(t) GDP deflator, 14.62–14.63 institutional units, 14.13–14.15(b) intermediate consumption price indices, 14.45(t) international comparisons of goods and services

expenditure, 14.66–14.68(t) labor services price indices, 14.64(t) national accounts, 14.6–14.9 net output PPIs, 14.46–14.48 PPI variants, 14.45–14.52(t) price indices, 14.2 price indices for final uses, 14.61 price indices for total supply, 14.58–14.60 production, 14.21–14.27(t) recording transactions in goods and services,

14.17–14.20 relationship of PPI to other price indices, 14.53–

14.54(t) stage of processing PPIs, 14.49–14.52 supply and use of goods and services, 14.10–14.12 timing of transactions, 14.18 valuation, 14.19–14.20 value-added deflators, 14.46–14.48 value aggregates, 14.1

Systematic sampling, 5.21 Target index, 9.75–9.77 Target seasonally adjusted annual index, 22.51 Targeted mean imputation, 1.229, 7.90–7.104(t) Tax revenue sources, 4.61 Tax switching, 2.47 Taxes on products, 14.19, 14.23, (g) Technology changes

quality adjustment issues, 7.58–7.65 Telecommunications industry

treatment of products, 10.9, 10.182–10.198 (Work-sheet 10.1)

Telephone data surveys, 6.50–6.51 Telephone interviews, 6.55 Temporarily missing bias, 11.39

Temporarily missing products, 7.33 quality adjustment issues, 7.35–7.36

Test approach, 15.19, 16.1, (g) Test of determinateness as to prices, 16.130 Theoretical characteristics price indices, 21.53–21.54 Theoretical output price index, 1.94–1.103, 17.12,

17.24–17.42, 21.45 estimating by superlative indices, 1.99–1.103,

17.55–17.60 maximizing behavior, 1.94 optimizing behavior, 1.94 pure price index, 1.95 upper and lower bounds, 1.96–1.98

Theoretical price index, 1.88, 1.91–1.92, 17.22 Theoretically ideal elementary index number formula,

20.11 Theory of consumer behavior, 1.37 Theory of the firm, 1.38 Time aggregation error, 20.13 Time aggregation problem, 20.10 Time reversal test, 1.62, 9.25, 15.20, 16.47, 16.112,

16.135, 20.35, (g) uses of, 1.65–1.67

Törnqvist price index, (g). See also Törnqvist-Theil price index

as approximation to economic output price index, 17.32–17.37

defined, 1.53 midyear price indices, 19.23–19.26(t) national Törnqvist output price index, 18.23 superlative index, 1.100–1.101 test performance, 16.63 Törnqvist formula, 15.81, 20.49

Törnqvist-Theil price index bilateral indices, 16.123–16.132 national Törnqvist intermediate input price index,

18.27 proof of optimality, 16.138–16.147

Total factor productivity, 2.68, (g) Total output price index, 14.59 Total Quality Management, 12.80 Total supply price indices, 14.60 TQM. See Total Quality Management Training programs

compilers and collectors, 12.68–12.71 requirements, 12.66–12.73

Transaction, (g) Transaction price, 1.178, 2.39, 5.9, (g). See also Ac-

tual market transaction price Transaction weights, 4.47–4.66 Transfer price, 6.88, 17.4, (g). See also Intra-company

transfer price Transitivity, (g) Transitivity in prices for fixed value weights, 16.113

Index

655

Transitivity test, 9.25, 16.135 “True” index, 1.161, (g) Turnover, (g) Turvey’s artificial set, 22.5, 22.14–22.15 Two-level aggregation system, 8.50 Two-stage aggregation, 18.32–18.38 Two-stage indices, 7.211–7.213, 19.16, (t) Two-stage Laspeyres price index, 18.33, (g) Two-stage sampling, 5.8, 5.49 Unequivocal price index, 15.25, (g) Unequivocal quantity index, 16.67–16.68 Unilateral index number theory, 16.4 Unilateral price indices

axiomatic approach, 16.11–16.30 Unimportant industries and products, 4.21–4.22 Unique product, (g)

price collection, 6.83–6.86 Unit revenue function, 17.40 Unit value bias, 1.179, 11.45 Unit value index, 9.71–9.72, (g) Unit value method, 10.192 Unit value “mix” problem, (g) Unit value price, 6.8–6.9 Unit values, 1.154, 6.87, 20.10 United Nations

Fundamental Principles of Official Statistics, 13.3, 13.48–13.51

Statistical Commission, 2.17, 2.21 website, 13.3

Units of measurement test, 9.25, 16.110 Universe, (g) Unweighted hedonic index, 21.70–21.71 Unweighted index number formula, 20.20, 21.70–

21.71 Unweighted stochastic approach, 16.77–16.82 Upper-level index, (g) Upper-level substitution bias, 11.41–11.42 Use of income account, 14.16, 14.28(t), 14.37–

14.38(t) User consultation, 13.69–13.80

advisory committee role, 13.75–13.77 explanation of PPI uses, 13.69–13.70 index quality issues, 13.78–13.80 presentation of methodology, 13.71–13.74

User cost price, 10.203 User-value quality adjustment, 7.43 Validation checks, 12.21 Valuation basis, 1.293 Valuation principles, 14.19–14.20 Value, (g)

Value added, (g) aggregation, 1.121–1.122 defined, 17.1 GDP estimation, 1.93

Value-added deflator, 1.93, 1.117–1.119, 14.46–14.48 aggregation, 18.39–18.56 for the agriculture sector, 19.36–19.39(t) double deflation method for constructing real value

added, 18.49–18.56 for and establishment, 17.77–17.87 for the manufacturing sector, 19.40–19.43(t) for the services sector, 19.44–19.47(t)

Value-added PPI, (g) uses of, 1.3

Value-added tax, (g) Value aggregates, 14.1. See also Elementary aggre-

gates product test, 15.7–15.11

Value function, 21.16, 21.21 Value updating, (g) Value weights, 1.189, 4.5–4.8, (g) Van Ijzeren additive percentage change decomposi-

tion, 19.28–19.29(t) Van Ijzeren decomposition factor, 19.28–19.29(t) Variance, 5.6, 5.10, 5.56–5.61 VAT. See Value-added tax Virtual corporation, 1.183, 3.13–3.14, 3.53–3.54, (g) Volume index, (g) Voorburg Group, 2.33 Wages

index linking, 2.11 Walsh price index, (g)

defined, 1.52 final-demand commodities, 19.16(t) midyear price indices, 17.89, 19.23–19.25(t) pure price index theory and, 15.25–15.32 representativity bias, 1.110–1.111 superlative index, 1.104–1.109, 17.48 test performance, 16.62 Walsh formula, 15.19

Weight property, 16.48 Weight reference period, 1.269, 4.23–4.27, 9.83, (g) Weighted arithmetic-average price index, (g appendix) Weighted stochastic approach, 16.83–16.96 Weighted least squares estimator, 7.172 Weighting

deriving pattern, 1.303–1.314 elementary aggregates, 1.139–1.140, 9.11–9.15 hedonic regressions, 21.86–21.90

Weighting tests, 16.117–16.122 Weights, (g)

classification system, 4.17–4.20


656

Weights (continued) coverage of, 4.28–4.31 within elementary aggregates, 9.11–9.15 from establishments, 4.58–4.59 explicit weights, 4.48–4.52 frequency of reweighting, 9.110–9.113 household enterprises, 4.65–4.66 implicit weights, 4.48–4.52 introduction of new weights, 9.107–9.109 net output weights, 4.12–4.16 new products, 4.62–4.64 partial reweighting, 9.124–9.130 probability sampling, 4.57–4.58 product weights, 4.47–4.66 quantity weights, 4.9–4.11 role of, 4.2–4.4 selecting and determining, 4.67–4.76 sources of, 4.32–4.46, 4.53–4.66 transaction weights, 4.47–4.66 unimportant industries and products, 4.21–4.22 update, 1.57, 4.21, 5.86, 9.143. See also

Reweighting value weights, 4.5–4.8

Wholesale price index, (g) origins of, 1.13 uses of, 1.14, 2.49–2.50

Wholesale turnover, 1.255, 4.43, 4.45

Wireless telecommunications industry treatment of products, 10.9, 10.182–10.198 (Work-

sheet 10.1) WLS. See Weighted least squares estimator WPI. See Wholesale price index X-11 seasonal adjustment, 22.91, 22.93(f) XPI. See Export Price Index Year-over-year annual indices, 22.35–22.44(t) Year-over-year monthly indices, 22.7–22.9, 22.16–

22.34(t), 22.98 Young index, 1.42–1.45, 15.55–15.65, (g and g

appendix) factoring, 9.94–9.96 formula, 1.42, 15.55 geometric, 1.46–1.49 limitations, 15.63 rebased Young index, 15.61 relationship with its time antithesis, 15.105–15.108 relationship with Lowe index, 9.89–9.93, 15.55 seasonally adjusted, 22.91–22.97(f)(t) test properties, 16.133–16.137 time antithesis of Young index, 15.64

YPI. See Total output price index

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