Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/192389 
Authors: 
Year of Publication: 
2005
Series/Report no.: 
Discussion Papers No. 407
Publisher: 
Statistics Norway, Research Department, Oslo
Abstract: 
The paper presents a method for computing the curvature implicit in the use of superlative price indices. It extends the quadratic lemma and allows us to compute the elasticity of substitution of the underlying preferences in the direction of the observed price change for the Törnqvist and the quadratic mean of order r indices. It derives the expressions for the directional shadow elasticity of substitution and applies the results to the Norwegian CPI data base.
Subjects: 
elasticity of substitution
superlative index
consumer price index (CPI).
JEL: 
C43
D12
Document Type: 
Working Paper

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