Understanding the space–time (in)consistency of the national accounts

Oulton, NicholasORCID logo (2015) Understanding the space–time (in)consistency of the national accounts. Economics Letters, 132. pp. 21-23. ISSN 0165-1765
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Space–time consistency means that an earlier PPP, updated by relative inflation rates, equals a more recent PPP. I show that in the absence of data errors Divisia price indices are space–time consistent provided that the consumer’s utility function is homothetic.
Item Type Article
Keywords PPP,Divisia,price index,path-dependence,consistency
Departments Centre for Economic Performance
DOI 10.1016/j.econlet.2015.04.009
Date Deposited 03 Jun 2015 14:29
URI https://researchonline.lse.ac.uk/id/eprint/62178

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