Arbeitspapier
Substitution bias in the measurement of import and export price indices: Causes and correction
The import and export price indices of an economy are usually compiled by some Laspeyres type index. It is well known that such an index formula is prone to substitution bias. Therefore, also the terms of trade (ratio of export and import price index) are likely to be distorted. The underlying substitution bias accumulates over time. The present paper introduces a simple and transparent retrospective correction approach that removes the substitution bias and produces meaningful long-run time series of import and export price levels and, therefore, of the terms of trade. Furthermore, an empirical case study is conducted that demonstrates the efficacy and versatility of the correction approach.
- Sprache
-
Englisch
- Erschienen in
-
Series: Research Papers in Economics ; No. 10/20
- Klassifikation
-
Wirtschaft
- Thema
-
distortion
official statistics
terms of trade
time series
- Ereignis
-
Geistige Schöpfung
- (wer)
-
von Auer, Ludwig
Shumskikh, Alena
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität Trier, Fachbereich IV - Volkswirtschaftslehre
- (wo)
-
Trier
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 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
- Arbeitspapier
Beteiligte
- von Auer, Ludwig
- Shumskikh, Alena
- Universität Trier, Fachbereich IV - Volkswirtschaftslehre
Entstanden
- 2020
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