Discussion Papers no. 407
The elasticity of substitution of superlative price indices
The paper presents a method for computing the curvature implicit in the use of superlative price indices. It extends the quadratic lemma and allows us to compute the elasticity of substitution of the underlying preferences in the direction of the observed price change for the Törnqvist and the quadratic mean of order r indices. It derives the expressions for the directional shadow elasticity of substitution and applies the results to the Norwegian CPI data base.
Om publikasjonen
- Tittel
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The elasticity of substitution of superlative price indices
- Ansvarlig
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Petter Frenger
- Serie og -nummer
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Discussion Papers no. 407
- Utgiver
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Statistics Norway
- Emne
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Discussion Papers
- Antall sider
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30
- Målform
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Engelsk
- Om Discussion Papers
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Discussion papers comprise research papers intended for international journals and books. A preprint of a Discussion Paper may be longer and more elaborate than a standard journal article as it may include intermediate calculations, background material etc.
Kontakt
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