Price Index Numbers

'An authoritative survey with exciting new insights of special interest to economists and econometricians who analyse intertemporal and interspatial price relationships.' - Professor Angus Maddison, Groningen University This book presents a comprehensive review of recent developments in the theory and construction of index numbers using the stochastic approach, demonstrating the versatility of this approach in handling various index number problems within a single conceptual framework.

Price and quantity indices are important, much-used measuring instruments, and it is therefore necessary to have a good understanding of their properties.

Arthur Vogt has devoted a great deal of his scientific efforts to both person and work of Irving Fisher. This book, written with Jànos Barta, gives an excellent impression of Fisher's great contributions to the theory of the price index on the one hand.

This book provides an introduction to index numbers for statisticians, economists and numerate members of the public. It covers the essential basics, mixing theoretical aspects with practical techniques to give a balanced and accessible introduction to the subject. The concepts are illustrated by exploring the construction and use of the Consumer Prices Index which is arguably the most important of all official statistics in the UK. The book also considers current issues and developments in the field including the use of large-scale price transaction data.