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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
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
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–
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)
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
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)
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
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
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–
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
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–
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,
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
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
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,
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
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
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
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
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
Producer Price Index Manual
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
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
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
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
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)
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 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
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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–
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
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–
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–
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,
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
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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
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
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
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
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-
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