Price Measurement and Mismeasurement in Central Asia

30 Pages Posted: 15 Feb 2006

See all articles by Vincent Koen

Vincent Koen

Organization for Economic Co-Operation and Development (OECD)

Date Written: August 1995

Abstract

The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional Paasche retail price indices obsolete and called for the introduction of Laspeyres consumer price indices. While the latter represent a major improvement, several measurement or interpretation issues remain, reflecting various potential index number biases, dispersion of prices and inflation across geographical areas and social groups, discontinuities in the inflation process, residual shortages, and seasonality.

JEL Classification: E31, P22, R32

Suggested Citation

Koen, Vincent, Price Measurement and Mismeasurement in Central Asia (August 1995). IMF Working Paper No. 95/82, Available at SSRN: https://ssrn.com/abstract=883230

Vincent Koen (Contact Author)

Organization for Economic Co-Operation and Development (OECD) ( email )

2 rue Andre Pascal
Paris Cedex 16, 75775
France

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