Economic Analysis of Production Price Indexes

This work on index-number construction focuses on production indexes, including output and input deflators that can be used for constructing real output and real input. The authors treat separately the different production units: the firm, the industry, and the economy, as well as the different forms of industrial organization: monopoly, monopsony, and competition. Only in the simplest cases is the appropriate theory isomorphic to that of the cost-of-living index because of the interlinkages among the various production units. A firm cannot always assume that the behaviour of its competitors, suppliers, and customers will be unaffected by price changes and only in special cases can an industry take supply and demand conditions as given.

Author: Franklin M. Fisher,Fisher,Karl Shell
Publisher: Cambridge University Press
Published: 11/13/1997
Pages: 242
Binding Type: Paperback
Weight: 0.73lbs
Size: 8.91h x 5.92w x 0.52d
ISBN: 9780521556231