Published Year: 2000
Survey/Program(s): Office of Prices and Living Conditions
Catalog: Economic Working Paper
WP Number: WP-327
Publication Status / Disposition: Available from the Office of Prices and Living Conditions (April 2000).
A Comparison of the Substitution Effect for Input and Output Price Indexes
Keith A. Waehrer
The substitution effect is different for output and input indexes like the consumer price index and the producer price index respectively. The conceptual index for both output and input indexes are defined and compared. Then the conceptual indexes are compared with some common index number formulas. Some results relating to which formulas are closer to the conceptual index are reviewed.