Quantity Indices in the Construction of the GDP Series ()
ABSTRACT
We provide a critique of the use of Fisher’s Ideal
Quantity Index in the construction of the GDP series. Attention is focused on
an alternative which factors nominal GDP increase into a sum of a quantity
index and a price index rather than a product of a quantity index and a price
index. A twenty period example is used to compare approaches.
Share and Cite:
Hartwick, J. (2021) Quantity Indices in the Construction of the GDP Series.
Theoretical Economics Letters,
11, 680-685. doi:
10.4236/tel.2021.114045.
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