The fixed basket multilateral Walsh index for international price and real expenditure comparisons

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 ax-iomatic properties and empirical results demonstrate suitability of the index for international price comparisons. (c) 2022 Elsevier B.V. All rights reserved.

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The multilateral Walsh index is a symmetric average fixed basket price index that satisfies transitivity, country symmetry, and invariance to proportional changes in quantities. Its superior axiomatic properties and empirical results demonstrate its suitability for international price comparisons.