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A note on commodity price aggregation bias without separability

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A note on commodity price aggregation bias without separability.pdf (199.46 KB)
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Sarmiento, Camilo
Just, Richard E.
Abstract (Spanish)
Este estudio identifica fuentes de sesgo de agregación de precios cuando no se aplican restricciones de separabilidad. Muestra que aunque el supuesto del teorema generalizado del producto compuesto garantiza la integrabilidad agregada, no garantiza una agregación de precios consistente excepto en el modelo translog homotético.
Abstract (English)
This study identifies sources of price aggregation bias when separability restrictions do not apply. It shows that even though the assumption of the generalized composite commodity theorem guarantees aggregate integrability, it does not guarantee consistent price aggregation except in the homothetic translog model.
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4 páginas
URI: https://repositorio.escuelaing.edu.co/handle/001/2849
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AG - Centro de Estudios Económicos
References

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Leontief, W. (1936) Composite commodities and index numbers, Econometrica, 4, 39–59.

Lewbel, A. (1996) Aggregation without separability: a generalized composite commodity theorem, American Economic Review, 86, 524–43

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Simon, C. and Blume, L. (1994) Mathematics for Economists, W. W. Norton & Company, New York.