1. A Summary of Export and Import Price Index Methodology
Author: International Monetary Fund
Language:
English
Keywords:
M&G; price relative; reference period; base period; trade price; geometric mean; Exports; Imports

Abstract

1.0 A price index number is a summary measure of the proportionate or percentage change in a set of prices over time. Export and import price indices (XMPIs) measure the overall change in the price component of transactions in goods and services between the residents of an economic territory and residents of the rest of the world. The prices of different goods and services all do not change at the same rate. A price index thus summarizes their movement by averaging over them. A price index assumes a value of unity, or 100, in some reference period. The value of the index for other periods of time provides the average proportionate or percentage change in price from the reference period.

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Cover Export and Import Price Index Manual
Export and Import Price Index Manual
Theory and Practice
Author: International Monetary Fund
ISBN:
9781589067806
ISSN:
2663-3744
Publication Date:
17 Dec 2009
Publisher:
Organisation for Economic Co-Operation and Develop
DOI:
https://doi.org/10.5089/9781589067806.069
Pages:
705

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  • Diewert, W. Erwin, 1983a, “The Theory of the Output Price Index and the Measurement of Real Output Change,” in Price Level Measurement: Proceedings from a Conference Sponsored by Statistics Canada, ed. by W.E. Diewert and C. Montmarquette (Ottawa: Statistics Canada) pp. 1049–1113.

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  • Diewert, W. Erwin, 1983b, “The Treatment of Seasonality in a Cost of Living Index,” in Price Level Measurement: Proceedings from a Conference Sponsored by Statistics Canada, ed. by W. Erwin Diewert and C. Montmarquette (Ottawa: Statistics Canada), pp. 1019–45.

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  • Diewert, W. Erwin, 1985, “Transfer Pricing and Economic Efficiency,” in Multinationals and Transfer Pricing, Croom Helm Series in International Business, ed. by A.M. Rugman and L. Eden (London: Croom Helm), pp. 47–81.

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  • Diewert, W. Erwin, 1990, “The Theory of the Cost-of-Living Index and the Measurement of Welfare Change,” in Price Level Measurement, Contributions to Economic Analysis 196, ed. by W. Erwin Diewert (Amsterdam: North-Holland), pp. 79–147.

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  • Diewert, W. Erwin, 1992a, “Fisher Ideal Output, Input and Productivity Indexes Revisited,” Journal of Productivity Analysis, Vol. 3 (September), pp. 211–48.

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  • Diewert, W. Erwin, 1992b, “Exact and Superlative Welfare Change Indicators,” Economic Inquiry, Vol. 30 (October), pp. 565–82.

  • Diewert, W. Erwin, 1993a, “The Early History of Price Index Research,” in Essays in Index Number Theory, Vol. 1, ed. by W. Erwin Diewert and A.O. Nakamura (Amsterdam: North-Holland), pp. 33–65.

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  • Diewert, W. Erwin, 1993b, “Duality Approaches to Microeconomic Theory,” in Essays in Index Number Theory, Vol. 1, ed. by W. Erwin Diewert and A.O. Nakamura (Amsterdam: North-Holland), pp. 105–75.

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  • Diewert, W. Erwin, 1993c, “Symmetric Means and Choice Under Uncertainty,” in Essays in Index Number Theory, Vol. 1, ed. by W. Erwin Diewert and A.O. Nakamura (Amsterdam: North-Holland), pp. 355–433.

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  • Diewert, W. Erwin, 1993d, “Overview of Volume 1,” in Essays in Index Number Theory, Vol. 1, ed. by W. Erwin Diewert and A.O. Nakamura (Amsterdam: North-Holland), pp. 1–31.

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  • Diewert, W. Erwin, 1995a, “Axiomatic and Economic Approaches to Elementary Price Indexes,” Discussion Paper No. 95–01 (Vancouver: Department of Economics, University of British Columbia).

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  • Diewert, W. Erwin, 1995b, “On the Stochastic Approach to Index Numbers,” Discussion Paper No. 95–31 (Vancouver: Department of Economics, University of British Columbia).

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  • Diewert, W. Erwin, 1996a, “Price and Volume Measures in the System of National Accounts,” in The New System of National Accounts, ed. by J. Kendrick (Norwell, Massachusetts: Kluwer Academic), pp. 237–85.

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  • Diewert, W. Erwin, 1996b, “Seasonal Commodities, High Inflation and Index Number Theory,” Discussion Paper 96-06 (Vancouver: Department of Economics, University of British Columbia).

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  • Diewert, W. Erwin, 1997, “Commentary on Matthew D. Shapiro and David W. Wilcox: ‘Alternative Strategies for Aggregating Price in the CPI,’” Federal Reserve Bank of St. Louis Review, Vol. 79 (May/June), pp. 127–37. Available via the Internet: http://research.stlouisfed.org/publications/review/97/05/9705ned.pdf.

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  • Diewert, W. Erwin, 1998a, “Index Number Issues in the Consumer Price Index,” Journal of Economic Perspectives, Vol. 12 (Winter), pp. 47–58.

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  • Diewert, W. Erwin, 1998b, “High Inflation, Seasonal Commodities and Annual Index Numbers,” Macroeconomic Dynamics, Vol. 2 (December), pp. 456–71.

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  • Diewert, W. Erwin, 1999a, “Index Number Approaches to Seasonal Adjustment,” Macroeconomic Dynamics, Vol. 3 (March), pp. 48–68.

  • Diewert, W. Erwin, 1999b, “Axiomatic and Economic Approaches to Multilateral Comparisons,” in International and Interarea Comparisons of Income, Output, and Prices, NBER Studies in Income and Wealth Vol. 61, ed. by Alan Heston and Robert E. Lipsey (Chicago: University of Chicago Press), pp. 13–87.

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  • Diewert, W. Erwin, 2000, “Notes on Producing an Annual Superlative Index Using Monthly Price Data,” Discussion Paper No. 00-08 (Vancouver: Department of Economics, University of British Columbia).

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  • Diewert, W. Erwin, 2001a, “The Consumer Price Index and Index Number Purpose,” Journal of Economic and Social Measurement, Vol. 27, No. 3–4, pp. 167–248.

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  • Diewert, W. Erwin, 2001b, “Which (Old) Ideas on Productivity Measurement Are Ready to Use?” in New Developments in Productivity Analysis, NBER Studies in Income and Wealth Vol. 63, ed. by C.R. Hulten, E.R. Dean and M.J. Harper (Chicago: University of Chicago Press), pp. 85–101.

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  • Diewert, W. Erwin, 2002a, “The Quadratic Approximation Lemma and Decompositions of Superlative Indexes,” Journal of Economic and Social Measurement, Vol. 28 (November), pp. 63–88.

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  • Diewert, W. Erwin, 2002b, “Similarity and Dissimilarity Indexes: An Axiomatic Approach,” Discussion Paper No. 02-10 (Vancouver: Department of Economics, University of British Columbia).

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  • Diewert, W. Erwin, 2002c, “Harmonized Indexes of Consumer Prices: Their Conceptual Foundations,” Swiss Journal of Economics and Statistics, Vol. 138 (December), pp. 547–637.

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  • Diewert, W. Erwin, 2002d, “Notes on Hedonic Producer Price Indexes” (unpublished; Vancouver: Department of Economics, University of British Columbia, January 5).

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  • Diewert, W. Erwin, 2002e, “Hedonic Producer Price Indexes and Quality Adjustment,” Discussion Paper No. 02-14 (Vancouver: Department of Economics, University of British Columbia).

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  • Diewert, W. Erwin, 2002f, “Hedonic Regression: A Review of Some Unresolved Issues” (unpublished; Vancouver: Department of Economics, University of British Columbia).

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  • Diewert, W. Erwin, 2003, “Hedonic Regressions: A Consumer Theory Approach,” in Scanner Data and Price Indexes, NBER Studies in Income and Wealth, Vol. 64, ed. by Robert C. Feenstra and Matthew D. Shapiro (Chicago: University of Chicago Press), pp. 317–48.

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  • Diewert, W. Erwin, 2005a, “On Measuring Inventory Change in Current and Constant Dollars,” Discussion Paper No. 05–12 (Vancouver: Department of Economics, University of British Columbia). Available via the Internet: www.econ.ubc.ca/discpapers/dp0512.pdf.

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  • Diewert, W. Erwin, 2005b, “Weighted Country Product Dummy Variable Regressions and Index Number Formulae,” Review of Income and Wealth, Vol. 51 (December), pp. 561–70.

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  • Diewert, W. Erwin, 2006, “Comment on Brian C. Moyer, Marshall B. Reinsdorf, and Robert E. Yuskavage, ‘Aggregation Issues in Integrating and Accelerating the BEA’s Accounts: Improved Methods for Calculating GDP by Industry,’” in A New Architecture for the U.S. National Accounts,