Definition: Symmetric index

Category: Purchasing power parities

An index that treats the two countries being compared symmetrically by giving equal importance to the price and expenditure data of both countries. The price and expenditure data for both countries enter into the index number formula in a balanced or symmetric way.

A very similar definition is applied in the Consumer Price Index Manual (2004):

An index that treats both periods symmetrically by attaching equal importance to the price and expenditure data in both periods. The price and expenditure data for both periods enter into the index formula in a symmetric way. http://ec.europa.eu/eurostat/product?code=KS-RA-12-023&mode=view Eurostat and Organization for Economic Cooperation and Development (OECD), "Eurostat - OECD Methodological manual on purchasing power parities (2005 Edition)", Methods and Nomenclatures, Office for Official Publications of the European Communities, Luxembourg, 2006European Union, Regulation (EC) No 1445/2007 establishing rules for the provision of basic information on PPPs, Official Journal of the European Union No L 336, 20.12.2007, p. 1 - 24ILO, IMF, OECD, Eurostat, UNECE, World Bank, Consumer Price Index Manual: Theory and Practice, 2004