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Glossary Term
Tornqvist Index and other Log-change Index Numbers


Term

Tornqvist Index and other Log-change Index Numbers

Synonym



Related Term


Source of Definition



Short Definition


Statistical Activity

Inflation measures

Definition
Index numbers are measures of relative change which are usually based on ratios. Log-change index numbers, like Tornqvist, are based on the natural logarithms of those ratios. The Tornqvist index is not often used as it requires the use of quantities purchased in the current period.
(c.f. Laspeyres, Paasche, Fisher Ideal, Marshall-Edgeworth, indexes)


Formula



Example

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