Premium
FERTILISER PRICES AND QUALITY CHANGE: Construction of Fertiliser Price and Quantity Indices for Great Britain, 1956/57 to 1968/69 *
Author(s) -
Rayner A. J.,
Lingard John
Publication year - 1971
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.1971.tb01729.x
Subject(s) - allowance (engineering) , index (typography) , potash , quality (philosophy) , econometrics , economics , agricultural economics , productivity , variable (mathematics) , agriculture , price index , mathematics , operations management , computer science , macroeconomics , agronomy , geography , mathematical analysis , fertilizer , philosophy , epistemology , world wide web , biology , archaeology
Data series on input prices and quantities are often required for econometric analysis and productivity measurement in the agricultural sector. The authors suggest that if such analyses are to be meaningful, the index measures of input prices and quantities should make allowance for quality change where this occurs. With this end in mind, the paper reviews a procedure for computing a constant quality price index and a variable quality quantity index and applies the method to British fertiliser data for the time period 1956/57 to 1968/69. In the process of computing these indices for fertiliser, separate price indices for the nutrients, nitrogen, phosphate and potash are presented.