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Activity Number: 550
Type: Topic Contributed
Date/Time: Thursday, August 6, 2009 : 8:30 AM to 10:20 AM
Sponsor: Business and Economic Statistics Section
Abstract - #305882
Title: An Econometric Approach to Construct World Tables of Purchasing Power Parities and Real Incomes: Analytical Properties and Tables for 1970--2005
Author(s): D.S. Prasada Rao and Alicia Rambaldi*+ and H.E. Doran
Companies: University of Queensland and University of Queensland
Address: , , ,
Keywords:
Abstract:

The paper presents a new method for the construction of a consistent panel of Purchasing Power Parities (PPPs), and real incomes, using a single step econometric framework that combines all the available information of PPPs for countries and over time. The method improves upon the current practice used in the construction of the Penn World Tables, PWT, and similar tables produced by the World Bank. Like its predecessors, it combines PPPs for benchmark years constructed by the International Comparison Program (ICP) with PPP predictions from a model of the national price level (or exchange rate deviation index) for all countries and years. The method also uses data on price movements available from national sources.

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