base period

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Base period

A particular period of time used for comparative purposes when measuring economic data.

Base Period

The period of time against which an index is measured. For example, suppose the base period is 2001 and the initial value of an index is 100. If the index is 150 in 2009, it means that the value of the index is 50% higher in 2009 than it was in 2001. It is also called the reference period.

base period

The time or period of time on which an index is based. Usually, the index is established at a value of 10 or 100 in the base year. The consumer price index of 177 in early 2002 indicated that consumer prices were 77% higher than during the base period of 1982-84. The Standard & Poor's 500 Stock Index of 1300 in early March 2002 indicated that, on average, a portfolio of blue chip stocks with a market value of $10 during the period 1941-43 (the base period) had a market value of $1,300 in early 2002. The portfolio of stocks making up the S&P 500 underwent substantial changes during the intervening years.

base period

The point in time that serves as a reference for calculating financial and economic data.The base period value is usually set at 1.0 or 100, called the benchmark, for purposes of comparison,and then all other periods are either greater or less than the benchmark.

References in periodicals archive ?
In this article, we demonstrate how the choice of reference period affects the conclusions drawn in relation to both these questions and discuss consequences for connecting climate model projections of global temperature change to the real world.
Panel A of Table 2 shows market capitalization for each reference period for firms doing stock buybacks.
Because the reference period for job search is any time during the 4 weeks ending September 15, however, the effect on unemployment appears to have been limited.
The NMW will be satisfied as long as the average pay paid over the pay reference period either equals or exceeds the NMW.
This indicates that the same basket of goods and services worth 63 pesos in 2006 (base year) is now worth 100 pesos during the reference period.
In the reference period, technical permits were issued for 66 dwellings, with total useful floor area of 6 281 m2.
Based on its recent case law (Judgement C-214/10 of 22 November 2011), the court held that any carry-over period must ensure that the worker can have, if need be, rest periods that may be 'staggered, planned in advance and available in the longer term' and 'must be substantially longer than the reference period in respect of which it is granted'.
A workers average working week is averaged over a period of 17 weeks, this is know as the reference period.
8% over the same reference period, the source added.
The RPA will be writing individually in the next few days to all those who received an ex- gratia payment in the reference period (2000-2002) to advise them.
I explained that a priority was to check with farmers who were paid CAP subsidies during the reference period that the historic data on which their entitlement will be calculated is based on the correct information.
The ``historic payments'' approach will operate by allocating entitlements (x hectares at pounds y per hectare) calculated over a three-year reference period from 2000-2002.

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