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IndexNumberTools

IndexNumberTools intends to ease the everyday work of users and producers of index numbers by providing functionalities like chain-linking, base shifting or computing pyp indices.

Installation

# Install released version from CRAN
install.packages("IndexNumberTools")

Getting started

We’ll work through an example using the Spanish GDP in current prices, which is preloaded as gdp_current, and the chain-linked volume (index), gdp_volume.

We can easily re-reference the volume series with change_ref_year().¹

gdp_volume_2010 <- change_ref_year(gdp_volume, 2010)

#> Time Series:
#> Start = 2008 
#> End = 2022 
#> Frequency = 1 
#>           2020      2010
#> 2008 104.90885 103.81798
#> 2009 100.95573  99.90596
#> 2010 101.05075 100.00000
#> 2011 100.40412  99.36010
#> 2012  97.52742  96.51331
#> 2013  96.13535  95.13571
#> 2014  97.59707  96.58224
#> 2015 101.56035 100.50430
#> 2016 104.52100 103.43417
#> 2017 107.54800 106.42969
#> 2018 110.12422 108.97913
#> 2019 112.28397 111.11642
#> 2020 100.00000  98.96018
#> 2021 106.68315 105.57383
#> 2022 113.27545 112.09758

We can also get the series at previous year prices from gdp_volume with get_pyp().²

gdp_pyp <- get_pyp(gdp_volume)

Multiplying the volume series by the mean of the current prices series at the reference year (2020), we obtain the GDP in (chain-linked) constant prices.

ref_year_mean <- window(gdp_current,start = c(2020,1), end = c(2020,4)) |> mean()
gdp_constant <- ref_year_mean * gdp_volume / 100

By dividing the GDP in current prices by the GDP in constant prices, we derive the chain-linked implicit deflator of the GDP.

gdp_deflator <- gdp_current / gdp_constant * 100

Using get_v_index() and chain-linking the result with get_chain_linked(), we get the chain-linked value indices.

gdp_value <- get_v_index(gdp_current) |> get_chain_linked(2020)

Then, we can verify the identity \(V = P\cdot Q\), that is, the value index must equal the product of the price and volume indices.

dplyr::near(gdp_value, gdp_deflator * gdp_volume / 100) |> all()
#> [1] TRUE

These binaries (installable software) and packages are in development.
They may not be fully stable and should be used with caution. We make no claims about them.
Health stats visible at Monitor.