The Price Index and its Extension: A Chapter in Economic Measurement Contributor(s): Afriat, Sydney N. (Author) |
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ISBN: 0415323371 ISBN-13: 9780415323376 Publisher: Routledge OUR PRICE: $247.00 Product Type: Hardcover - Other Formats Published: January 2005 Annotation: A theft amounting to 1 was a capital offence in 1260 and a judge in 1610 affirmed the law could not then be applied since 1 was no longer what it was. Such association of money with a date is well recognized for its importance in very many different connections. Thus arises the need to know how to convert an amount at one date into an equivalent amount at another date. In other words, a price index. The ordinary consumer price index or CPI represents a practical response to the need. A sense for the equivalence that should give it some legitimacy, and the faithfulness or truth of a price index to that sense, becomes an issue giving rise to extensive thought and theory about price indices, to which over the decades a remarkable number of economists have each contributed a word, or volume. However, there have been hold-ups at a most basic level, cleared in this book. Beside the classical part of the subject that should command most attention, this volume ventures into further topics. Afriat is rightly famous for his work in the field of the price index and this latest book will interest economists of an academic and professional nature the world over. |
Additional Information |
BISAC Categories: - Business & Economics | Econometrics - Business & Economics | Economics - General |
Dewey: 338.528 |
LCCN: 2004046762 |
Series: Routledge Frontiers of Political Economy |
Physical Information: 1.2" H x 6.3" W x 9.46" (1.76 lbs) 456 pages |
Descriptions, Reviews, Etc. |
Publisher Description: The book is not an unrestricted survey engaging a vast and repetative literature, but a systematic treatise within clear boundaries, largely a document of Afriat's own work. The original motive of the work is to elaborate a concept of what really is a price index, which, despite some kind of price-level notion having a presence throughout economics, in theory and practice, had been missing. |