This is a significant update, not something we want to leap into unless we have some time. But I'm finding that the book and class now differ significantly in how I handle this. Put simply, I'd like to (i) give students a sense of the difficulty of the index number problem and (ii) do it in a way that treat prices and quantities symmetrically.
This is a significant update, not something we want to leap into unless we have some time. But I'm finding that the book and class now differ significantly in how I handle this. Put simply, I'd like to (i) give students a sense of the difficulty of the index number problem and (ii) do it in a way that treat prices and quantities symmetrically.
Some links if we get into this:
http://en.wikipedia.org/wiki/Index_(economics) http://scholar.google.com/scholar?hl=en&q=index+numbers+diewert&btnG=&as_sdt=1%2C33 http://www.economics.ubc.ca/files/2013/06/pdf_paper_erwin-diewert-essays-index-10.pdf http://link.springer.com/chapter/10.1007/978-94-009-1798-9_8 http://www.nber.org/papers/w5104 http://www.nber.org/papers/w5103