GDP implicit price deflator

Definition:

An economic technique used to account for inflation by comparing the current-dollar gross domestic product GDP to constant-dollar GDP as a ratio. The ratio accounts for price changes of goods and services that make up GDP and changes in the composition of GDP.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Statistical inference

A statistical method of drawing conclusions on unknown properties of a population based on a random sampling of data from that population.

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