Econometrics

Download A Practical Introduction to Index Numbers by Jeff Ralph, Rob O'Neill, Joe Winton PDF

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By Jeff Ralph, Rob O'Neill, Joe Winton

This booklet offers an advent to index numbers for statisticians, economists and numerate participants of the general public. It covers the fundamental fundamentals, blending theoretical facets with useful concepts to provide a balanced and available creation to the topic. The strategies are illustrated by way of exploring the development and use of the shopper costs Index that's arguably crucial of all professional information within the united kingdom. The e-book additionally considers present concerns and advancements within the box together with using large-scale fee transaction data.

A useful advent to Index Numbers stands out as the excellent accompaniment for college students taking the index quantity parts of the Royal Statistical Society usual and better certificates assessments; it offers recommended routes in the course of the publication for college students, and units of workouts with solutions.

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Extra resources for A Practical Introduction to Index Numbers

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Calculate a simple index of goals scored for each season with 2005/2006 as the base season. b. Calculate the percentage change in the index between 2005/2006 and 2012/2013. c. Calculate the percentage change in the index between 2006/2007 and 2010/2011. d. Calculate the percentage change in the index between 2009/2010 and 2012/2013. 2 Number of goals 2005/2006 to 2012/2013. 3. 3 Index of salary 2009–2014. 0 Richard’s colleague Catherine has a salary of £33 000 in 2014. Catherine would like to know what her salary was in 2009.

MEASURING INFLATION 25 Exercise B These questions are intended to encourage you to think more broadly about the topics discussed in the first three chapters and how they can be applied in practice. Formal solutions are not provided for these questions; however, some brief supporting information for this exercise is available as part of the on-line content associated with this book. 1 Identify the benefits and taxes adjusted by inflation measures. 2 Given the potential uses of inflation statistics discussed in this chapter, what are the possible implications of having inaccurate or wrong inflation index numbers?

Each formula is a price index for a selection of n goods and services between the base period 0 and the current period t; all commodities in the basket are common to both periods 0 and t. Note that the term ‘price index’ refers to a mathematical formula, which combines prices (and sometimes quantities) to produce price index numbers. In this chapter, we make no comment on the differences between these measures of price change; this will be covered in more detail in Chapter 13. 2 31 Price of drinks on a particular day, 2012–2013.

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