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| Tekijä: | Hill, R. J. |
| Otsikko: | Measuring Inflation and Growth Using Spanning Trees |
| Lehti: | International Economic Review
2001 : FEB, VOL. 42:1, p. 167-186 |
| Asiasana: | MEASUREMENT INFLATION GROWTH |
| Kieli: | eng |
| Tiivistelmä: | It is shown how most methods of measuring inflation and growth have an underlying spanning tree. The spanning tree whose resulting inflation (growth) estimates arc least sensitive to the choice of index number formula can be computed using Kruskal's minimum spanning tree algorithm. Applying this algorithm to American, British, and Australian data sets, chaining is shown to be the best possible way of linking annual data. For quarterly data, the optimal method of linking depends on the amount of seasonably in the data. The article concludes with a brief discussion of some potential applications of spanning trees to the analysis of business cycles. The article provides a substantial list of references on this subject. |
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