5 years ago

New framework revolutionizes economic statistics, shaping global price trends.

IMF Working Paper
A Framework for Price Statistics
Kimberly D. Zieschang

Paper Summary

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The article outlines a framework for understanding price statistics, focusing on four main indices: Producer Price Index, Consumer Price Index, Export Price Index, and Import Price Index. It explains how these indices break down economic values into price and volume components. The paper also discusses the basic algebra of price indices and the components of goods and services in the System of National Accounts 1993. Additionally, it briefly touches on purchasing power parities and labor compensation indices.