base period

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base period

[′bās ‚pir·ē·əd]
(statistics)
The period of a year, or other unit of time, used as a reference in constructing an index number. Also known as base year.
References in periodicals archive ?
BEA'S new indexes eliminate the substitution bias in real GDP growth that tends to cause an understatement of growth for periods before the base period and an overstatement of growth for periods after the base period:
For example, the use of chain-type indexes corrects an understatement in real growth in manufacturing that would result from using fixed-weighted indexes for years prior to the base period of 1987.
Previously, the use of the same base period for all time periods produced a set of indexes that converted to dollar-denominated measures in which the components were valued in the same prices over all time periods and added up precisely to the totals.
11) However, for periods far from the base period, the residual in chained dollars becomes large, and contributions to GDP growth computed from the chained-dollar components can differ significantly from those produced by the chain-type indexes.
TEI believes that application of the 110-percent limitation to each base period year for each ratio serves no valid purpose.
Finally, if the 110-percent limitation rule is retained, TEI recommends that the proposed regulations allow taxpayers to use the greater of the safe harbor percentage noted above (20 percent of worldwide assets financed by third-party debt and 20 percent of CFC assets funded through related person indebtedness) or the taxpayer's actual (or allowable) base period data when calculating the relevant debt-to-asset ratio.
861-10(e)(9)(iii), the various base period ratios are generally not recalculated in case of corporate events.
The exclusion period for acquired or disposed groups should, perhaps, be consistent with the number of base period years selected for averaging debt-to-asset ratios.