Index Numbers

A Stochastic Approach
E. A. Selvanathan and D. S. Prasada Rao
A comprehensive review of recent developments in index numbers


An alternative approach to the construction of index numbers, the stochastic approach, has been slowly growing in stature over the last two decades. The use of stochastic regression models to study the nature of price movements over time and across regions and countries of different commodities that enter the index number measurement has been steadily increasing. In this direction there have been some significant developments in the last few years.

The principal aim of Index Numbers is to synthesize these recent developments. The subject matter is cast in the general index number literature. The basic theoretical foundations of the stochastic approach along with a number of applications of the approach form the core of this book. A number of numerical illustrations, presented along with the real-world data are designed to provide a better understanding of the material presented.

E. A. Selvanathan is Senior Lecturer in Quantitative Economics, Griffith University, Australia, and Research Associate of the Economic Research Centre, University of Western Australia.

D. S. Prasada Rao is Associate Professor in the Department of Econometrics, University of New England, Australia.

Product Details

  • 5-3/4 x 8-1/2.
  • 256pp.
  • tables.
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  • Hardcover
  • 1994
  • Available
  • 978-0-472-10577-9

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