Abstract
The multilateral Walsh index is the only symmetric average fixed basket price index that satisfies transitivity, country symmetry, and invariance to proportional changes in quantities. Superior axiomatic properties and empirical results demonstrate suitability of the index for international price comparisons. • Advocates fixed-basket multilateral Walsh (MW) index for international comparisons. • Characterizes the MW based on three important axioms for international comparisons. • Characterizes MW index without an artificial assumption that goods prices can be zero. • Shows that MW satisfies identity, monotonicity and other axioms. • Empirical application of MW using the 2017 International Comparison Program data.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
