price index

(redirected from Fisher Ideal Index)
Also found in: Dictionary, Financial, Encyclopedia.
Graphic Thesaurus  🔍
Display ON
Animation ON
  • noun

Synonyms for price index

an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time

References in periodicals archive ?
As the equation indicates, the aggregate energy index is decomposed into activity and efficiency indexes with no residual term and this is guaranteed only by Fisher ideal index.
The Fisher Ideal index, however, allows for changing expenditure patterns in a manner that allows it to approximate a cost-of-living index especially well and is thus known as a superlative index (Diewert 1987).
Until recently, Paasche and Laspeyres indexes were the basis for most Department of Commerce measures of economic activity, although these measures are now based on the chained Fisher Ideal index (Young, 1992, 1993; Triplett, 1992).
The Bureau of Economic Analysis subsequently made available annually chained Fisher Ideal index measures of output for private business and private nonfarm business and BLS began using these as its main measures of output for major sector multifactor productivity in 1994.
These alternative indexes use the Fisher Ideal index formula to provide a measure of change between two periods.
However, Diewert finds that one superlative formula, the Fisher ideal index, passes a battery of some 21 tests.
The Fisher Ideal index is simply the geometric mean of the fixed-weighted Paasche and Laspeyres indexes, the formulas for which have long been the primary ones used in constructing indexes for the U.
BEA has selected as alternatives two types of indexes, both of which are based on the Fisher ideal index formula and were among the alternatives discussed in an April 1989 Survey article.