Page:Stabilizing the dollar, Fisher, 1920.djvu/255

. 9, H] is one of unusual variability of the price level before the war (although of less average variability than the 1% every two months, assumed in the standard hypothetical case).

(b) Calculation of stabilized index numbers. The following table shows the first stages of the calculation:

Let us follow the above calculations in detail, taking the index numbers cited from the bulletin of the United States Bureau of Labor Statistics. Changing them by simple proportion so that the price level of January, 1900, when the system is supposed to have been adopted,