SUPERLATIVE INDICES IN CONSUMER PRICE STATISTICS: PERSPECTIVE FOR RUSSIA
M.A. Kozlova
Ural State University of Economics, Yekaterinburg, Russian Federation
Keywords: индекс цен, индекс потребительских цен, индекс стоимости жизни, гиперболический индекс, индекс Торнквиста, price index, consumer price index, cost-of-living index, superlative index, TГ¶rnqvist index
Abstract
The focus in this paper is on the superlative indices as perspective indicators for Russian price statistics. Price indices are calculated by Laspeyres formula which has a bias in measurement of price change. Superlative indices minimize this bias and on the base of economic approach and consumer choice theory Törnqvist formula has smaller bias. Superlative indices are analyzed on the ground of axiomatic approach as well. There are generalization of questions and problems which can appear in the process of superlative index adaption in price statistics in Russian.
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