By Alexander J. W.
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Sample text
This may, at least partially, be caused by the fact that the Quasi Fisher approach essentially approximates a Törnqvist index – which in our case is greater than the Fisher – and then converts the result into a “Fisher-type” formula. Notice that the Geometric Laspeyres index numbers nearly coincide with the natural Fisher approximations. Table 4 contains approximate direct index numbers (1996 = 100), computed as if expenditure data for 1999 were unavailable. Thus, the true 1999 index numbers in Table 3 are replaced by estimated values.
Wilcox, D. W. (1997). Alternative strategies for aggregating prices in the CPI. Federal Reserve Bank of St. Louis Review, 79(3), 113–125. Triplett, J. E. (1989a). Superlative and quasi-superlative indexes of price and output for investment goods: Office, computing and accounting machinery (Discussion Paper 40). Washington, DC: Bureau of Economic Analysis. Triplett, J. E. (1989b). Price and technological change in a capital good: A survey of research on computers. In D. W. Jorgenson & R. ), Technology and capital formation.
All that in order to come to proposals for the cross-country integration in a harmonized frame that will be made in Paragraph 5. Unfortunately, data is currently not available to seek empirical confirmation of the ideas we are going to present and defend. Therefore, we are bound to theoretical/methodological assertions only and our endeavour will be to try to set up a convincing scheme of reasoning strongly supported by objective and generally accepted basis. Some remarks in Paragraph 6 will conclude the paper.