Comparing the wealth of nations : reference prices and multilateral real income indexes

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Title: Comparing the wealth of nations : reference prices and multilateral real income indexes
Authors: Neary, J. PeterGleeson, Bríd
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Date: 24-Jun-1997
Online since: 2011-07-25T15:19:16Z
Abstract: This paper considers the problem of comparing real incomes across countries. The available methods are reviewed and their performance is compared using the raw data underlying the Penn World Table. The results throw light on the relative merits of different indexes and on the empirical importance of the "Gerschenkron effect": the downward bias in a country's measured real income when its own prices are used as weights. They also demonstrate the feasibility of using empirical demand parameters to estimate the GAIA ("Geary-Allen International Accounts") System.
Funding Details: Not applicable
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP97/19
Keywords: Real income indexesComparative economicsMultilateral comparison
Subject LCSH: National income--Accounting
Income--Mathematical models
Gross national product
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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