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International Monetary Fund

specific theoretical assumptions. There was nothing explicit in the analysis to suggest that the same findings would not hold when aggregation took place for outputs, inputs, or the value added of all establishments in the economy. Section B of this chapter examines the extent to which the various conclusions reached in Chapter 17 remain valid at an aggregate, economy level. The aggregation of price indices for establishments into national price indices is considered in turn for the output price index, input price index, and value-added deflator. 1 The details of

International Monetary Fund

and imports in the resident framework. With this expanded system of production accounts in hand, in Section D , economic approaches to the export price index for a single establishment are developed. These approaches are basically an adaptation of the theory of the output price index from Fisher and Shell (1972) and Archibald (1977) and it follows closely the exposition of the export price index made by Alterman, Diewert, and Feenstra (1999) . Section E follows up on this material with Diewert’s (1976) theory of superlative indices . A superlative

International Monetary Fund

levy on these inputs used by the establishment. The reason for including these taxes is that they are actual costs paid by the establishment. These conventions on the treatment of indirect taxes on production are consistent with those specified in Section B.1 of Chapter 2 . 17.7 For the first sections of this chapter, an output price index, an intermediate input price index, and a value-added deflator 8 will be defined for a single establishment from the economic perspective. In subsequent sections, aggregation will take place over establishments to define

International Monetary Fund. Statistics Dept.

but is not identical to the concept of an intermediate consumption (input) price index. PPIs and WPIs differ across countries, for example, with respect to coverage of the economy (e.g., whether inclusive of mining, construction, and services) and valuation (e.g., whether inclusive of taxes net of subsidies on products, such as an input price index for intermediate consumption, or exclusive of net taxes on products, such as an output price index). If there is more than one PPI, the index tracked should be that most widely used in the country. The metadata for this