NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Price and Volume Measures in the System of National Accounts

W. Erwin Diewert

NBER Working Paper No. 5103
Issued in May 1995
NBER Program(s):   PR

The paper is an extensive review of chapter 16 in the System of National Accounts, 1993 written by Peter Hill. The basic principles for measuring price and quantity change in the National Accounts are explained. The paper also presents some new material on the consistency of superlative indexes with indexes which are additive in their components. Some new material on the treatment of quality change is also presented which indicates that traditional Statistical Agency treatments of this issue will lead to upward bias in price indexes. The literature on sources of bias in consumer price indexes is also reviewed.

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Document Object Identifier (DOI): 10.3386/w5103

Published: Kendrick, John W. (ed.) The new system of national accounts, Recent Economic Thought Series. Boston; Dordrecht and London: Kluwer Academic, 1996.

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