Preisindizes mit konstanten Wertgewichten. Bemerkungen zu einem Vorschlag von Werner Neubauer / Two Price Index Formulas Proposed by W. Neubauer

2000 ◽  
Vol 220 (6) ◽  
Author(s):  
Peter von der Lippe
Keyword(s):  
Price Index ◽  
Index Formulas

ZusammenfassungZwei von Neubauer ins Gespräch gebrachte Preisindexformeln werden hinsichtlich ihrer Interpretation und Eigenschaften untersucht. Die Formeln sind leider wenig bekannt und wohl auch selten im Detail untersucht worden. Das ist umso bedauerlicher als sie einige sehr vorteilhafte Eigenschaften haben. Die Formeln sind jedoch zur Deflationierung nur eingeschränkt geeignet weil die impliziten Mengenindizes nicht proportional in den Mengen sind. Sie werfen auch einige Fragen hinsichtlich des „reinen Preisvergleichs“ und der Interpretation mit fiktiven Mengen auf. Es bleibt gleichwohl rätselhaft, warum die von Neubauer vorgeschlagenen Preisindizes so wenig Beachtung gefunden haben im Vergleich zu dem ganz zu unrecht so viel gerühmten „Idealindex“ von Fisher, der in vieler Hinsicht sehr viel mehr Mängel hat.

scholarly journals Remarks on Geo-Logarithmic Price Indices

2019 ◽  
Vol 35 (2) ◽  
pp. 287-317
Author(s):  
Jacek Białek
Keyword(s):  
Price Index ◽  
Additional Parameter ◽  
Economic Approach ◽  
Price Indices ◽  
Index Formulas ◽  
Index Family

Abstract As is known, all geo-logarithmic indices enjoy the axiomatic properties of being proportional, commensurable and homogeneous, together with their cofactors (Martini 1992a). Geologarithmic price indices satisfying the axioms of monotonicity, basis reversibility and factor reversibility have been investigated by Marco Fattore (2010), who has shown that the superlative Fisher price index does not belong to this family of indices. In this article, we discuss geo-logarithmic price indices with reference to the Laspeyres-Paasche bounding test and we propose a modification of the considered index family that satisfies this test. We also modify the structure of geo-logarithmic indices by using an additional parameter and, following the economic approach, we list superlative price index formulas that are members of the considered price index family. We obtain a special subfamily that approximates superlative price indices and includes the Fisher, Walsh and Sato-Vartia price indices.

Consistency in Aggregation / Aggregationskonsistenz

2004 ◽  
Vol 224 (4) ◽  
Author(s):  
Ludwig von Auer
Keyword(s):  
Price Index ◽  
Price Change ◽  
Economic Research ◽  
Index Formula ◽  
Weak Consistency ◽  
Two Stage ◽  
Consistency Test ◽  
Multi Stage ◽  
Screening Device ◽  
Index Formulas

SummaryIn empirical economic research, individual prices are often aggregated into average prices of subaggregates. Then, these average prices are aggregated to produce the average price of the total aggregate. Often, such two stage procedures help to illuminate the underlying forces driving the overall result. Since price data are usually published as price changes, this two stage aggregation is typically based on some price index formula. In this paper, various screening devices are introduced which help to differentiate between suitable and unsuitable formulas. It is argued that testing for weak consistency in aggregation is a particularly important screening device. If a price index formula fails the weak consistency test and, nevertheless, this formula is used for a multi stage price index computation, then the measured overall price change depends on the number of computational stages and also on the precise manner in which the elementary items are partitioned into subaggregates. In other words, the findings are not robust and cannot be considered as particularly reliable. Based on these screening devices, it is examined which price index formulas can be expected to produce consistent results.

scholarly journals Drobisch’s Legacy to Price Statistics

2010 ◽  
Vol 230 (6) ◽  
Author(s):  
Ludwig von Auer
Keyword(s):  
Price Index ◽  
Index Theory ◽  
Professional Life ◽  
Price Indices ◽  
German Mathematician ◽  
Unit Value ◽  
Proper Perspective ◽  
Index Formulas ◽  
Scientific Achievements

SummaryThis paper attempts to establish a greater awareness among researchers for the noteworthy contributions to price index theory made by Moritz Wilhelm Drobisch (1802-1896), a German mathematician and philosopher at the Universita¨ t Leipzig. Few economists and statisticians are aware of the fact that neither Étienne Laspeyres nor Hermann Paasche originally devised the well-known price indices that presently carry their names. Moritz Wilhelm Drobisch was the first to publish them in 1871 in a treatise and, shortly thereafter, in an abridged version that appeared in this very journal. He rejected them, however, because in his view they were inappropriate measures of inflation. Instead, he devised the unit value index, which he regarded as superior to all other price index formulas. This paper contains a description of his pioneering scientific achievements together with a synopsis of his personal and professional life. Its purpose is to give credit where credit is due, but more importantly, it attempts to recognize these seminal contributions in light of the factors that have tarnished them in the recorded annals of price index history. It attempts to put them into their proper perspective.

Kritik internationaler Empfehlungen zur Indexformel für Preisindizes in der amtlichen Statistik / A Critique of International Recommendations Concerning Price Index Formulas

1999 ◽  
Vol 218 (3-4) ◽  
Author(s):  
Peter von der Lippe
Keyword(s):  
Price Index ◽  
Index Formulas

ZusammenfassungDie Arbeit behandelt vor dem Hintergrund von Anforderungen an amtliche Preisindizes vor allem zwei Gegenstände:1. die Kontroverse über den US-Verbraucherpreisindex auf Basis der kaum kritisch hinterfragten und nicht selten auch mißverstandenen „ökonomischen Theorie der Indexzahlen", und2. die unglückselige Empfehlung des SNA 93 zugunsten von Kettenindizes als Inflationsmaße und zur Deflationierung des Sozialprodukts und die Bevorzugung der Formel des „Idealindexes" von I. Fisher.Gemeinsam ist in beiden Punkten die Neigung, das Prinzip des reinen Preisvergleichs über Bord zu werfen zugunsten zweifelhafter Kriterien mathematischer Eleganz. Gerade bei einer Anwendung in der amtlichen Preisstatistik zeigt sich aber, daß nicht solche formale Kriterien, sondern ganz andere vorrangig beachtet werden sollten.

ANALISIS PENGARUH INFLASI, KURS DAN IHSG TERHADAP RETURN REKSA DANA SAHAM PT NIKKO SECURITIES INDONESIA PERIODE 2014-2017

2019 ◽  
Vol 2 (2) ◽  
pp. 103
Author(s):  
Muhammad Rois Rois ◽  
Manarotul Fatati Fatati ◽  
Winda Ihda Magfiroh
Keyword(s):  
Regression Analysis ◽  
Exchange Rate ◽  
Linear Regression ◽  
Multiple Linear Regression ◽  
Stock Price ◽  
Price Index ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Equity Fund ◽  
Stock Price Index

This study aims to determine the effect of Inflation, Exchange Rate and Composite Stock Price Index (IHSG) to Return of PT Nikko Securities Indonesia Stock Fund period 2014-2017. The study used secondary data obtained through documentation in the form of PT Nikko Securities Indonesia Monthly Net Asset (NAB) report. Data analysis is used with quantitative analysis, multiple linear regression analysis using eviews 9. Population and sample in this research are PT Nikko Securities Indonesia. The result of multiple linear regression analysis was the coefficient of determination (R2) showed the result of 0.123819 or 12%. This means that the Inflation, Exchange Rate and Composite Stock Price Index (IHSG) variables can influence the return of PT Nikko Securities Indonesia's equity fund of 12% and 88% is influenced by other variables. Based on the result of the research, the variables of inflation and exchange rate have a negative and significant effect toward the return of PT Nikko Securities Indonesia's equity fund. While the variable of Composite Stock Price Index (IHSG) has a negative but not significant effect toward Return of Equity Fund of PT Nikko Securities Indonesia

Empirical analysis of factors influencing the public health expenditure in Malaysia

2018 ◽  
Vol 6 (3) ◽  
pp. 1
Author(s):  
Kok Wooi Yap ◽  
Doris Padmini Selvaratnam
Keyword(s):  
Public Health ◽  
Mortality Rate ◽  
Infant Mortality ◽  
Health Expenditure ◽  
Price Index ◽  
Infant Mortality Rate ◽  
Public Health Expenditure ◽  
The Public ◽  
Empirical Results ◽  
Per Capita

This study aims to investigate the determinants of public health expenditure in Malaysia. An Autoregressive Distributed Lag (ARDL) approach proposed by Pesaran & Shin (1999) and Pesaran et al. (2001) is applied to analyse annual time series data during the period from 1970 to 2017. The study focused on four explanatory variables, namely per capita gross domestic product (GDP), healthcare price index, population aged 65 years and above, as well as infant mortality rate. The bounds test results showed that the public health expenditure and its determinants are cointegrated. The empirical results revealed that the elasticity of government health expenditure with respect to national income is less than unity, indicating that public health expenditure in Malaysia is a necessity good and thus the Wagner’s law does not exist to explain the relationship between public health expenditure and economic growth in Malaysia. In the long run, per capita GDP, healthcare price index, population aged more than 65 years, and infant mortality rate are the important variables in explaining the behaviour of public health expenditure in Malaysia. The empirical results also prove that infant mortality rate is significant in influencing public health spending in the short run. It is noted that macroeconomic and health status factors assume an important role in determining the public health expenditure in Malaysia and thus government policies and strategies should be made by taking into account of these aspects.

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