Konferenzbeitrag
Unit Value Bias Reconsidered
The present paper explores, both theoretically and empirically, the bias of unit value indices as opposed to genuine price indices in foreign trade. An analysis of German data reveals conceptual and methodological differences, and their impact on economic indicators, namely imported inflation, terms of trade and gross domestic product, is quantified. By introducing a formal theory, the sources of the discrepancy can be attributed to a Laspeyres effect and a structural component, both strongly negative. Only the latter reflects the unit value bias. Thus, much attention should be paid to gaining a better understanding of the index concepts.
- Sprache
-
Englisch
- Erschienen in
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: How Reliable are German Aggregate Price Indices? ; No. F2-V3
- Klassifikation
-
Wirtschaft
Index Numbers and Aggregation; Leading indicators
Price Level; Inflation; Deflation
Empirical Studies of Trade
- Thema
-
Laspeyres price index
Paasche unit value index
unit value bias
imported ination
commodity terms of trade
real gross domestic product
- Ereignis
-
Geistige Schöpfung
- (wer)
-
von der Lippe, Peter
Mehrhoff, Jens
- Ereignis
-
Veröffentlichung
- (wer)
-
Verein für Socialpolitik
- (wo)
-
Frankfurt a. M.
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Konferenzbeitrag
Beteiligte
- von der Lippe, Peter
- Mehrhoff, Jens
- Verein für Socialpolitik
Entstanden
- 2010
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