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Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes
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| Zeitschriftentitel: | Review of Income and Wealth |
|---|---|
| Personen und Körperschaften: | |
| In: | Review of Income and Wealth, 59, 2013, 4, S. 593-613 |
| Format: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
Wiley
|
| Schlagwörter: |
| author_facet |
Ravallion, Martin Ravallion, Martin |
|---|---|
| author |
Ravallion, Martin |
| spellingShingle |
Ravallion, Martin Review of Income and Wealth Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes Economics and Econometrics |
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ravallion, martin |
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Ravallion, Martin 0034-6586 1475-4991 Wiley Economics and Econometrics http://dx.doi.org/10.1111/j.1475-4991.2012.00510.x <jats:p>The price surveys from the 2005 International Comparison Program (ICP) imply substantially lower levels of GDP at purchasing power parity (PPP) for many developing countries than prior estimates. While some observers have questioned the data, this paper argues that the pattern of changes in PPPs between ICP rounds makes economic sense. Consistently with the original Balassa–Samuelson model, more rapidly growing economies experienced steeper increases in their PPPs relative to official exchange rates. This effect was even stronger for poor countries. Taking account of this effect would reduce the need for such large data revisions when new ICP data become available.</jats:p> Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes Review of Income and Wealth |
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Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
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Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
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Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
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Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
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Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| title_short |
Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| title_sort |
price levels and economic growth: making sense of revisions to data on real incomes |
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Economics and Econometrics |
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http://dx.doi.org/10.1111/j.1475-4991.2012.00510.x |
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2013 |
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593-613 |
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<jats:p>The price surveys from the 2005 International Comparison Program (ICP) imply substantially lower levels of GDP at purchasing power parity (PPP) for many developing countries than prior estimates. While some observers have questioned the data, this paper argues that the pattern of changes in PPPs between ICP rounds makes economic sense. Consistently with the original Balassa–Samuelson model, more rapidly growing economies experienced steeper increases in their PPPs relative to official exchange rates. This effect was even stronger for poor countries. Taking account of this effect would reduce the need for such large data revisions when new ICP data become available.</jats:p> |
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| description | <jats:p>The price surveys from the 2005 International Comparison Program (ICP) imply substantially lower levels of GDP at purchasing power parity (PPP) for many developing countries than prior estimates. While some observers have questioned the data, this paper argues that the pattern of changes in PPPs between ICP rounds makes economic sense. Consistently with the original Balassa–Samuelson model, more rapidly growing economies experienced steeper increases in their PPPs relative to official exchange rates. This effect was even stronger for poor countries. Taking account of this effect would reduce the need for such large data revisions when new ICP data become available.</jats:p> |
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| spelling | Ravallion, Martin 0034-6586 1475-4991 Wiley Economics and Econometrics http://dx.doi.org/10.1111/j.1475-4991.2012.00510.x <jats:p>The price surveys from the 2005 International Comparison Program (ICP) imply substantially lower levels of GDP at purchasing power parity (PPP) for many developing countries than prior estimates. While some observers have questioned the data, this paper argues that the pattern of changes in PPPs between ICP rounds makes economic sense. Consistently with the original Balassa–Samuelson model, more rapidly growing economies experienced steeper increases in their PPPs relative to official exchange rates. This effect was even stronger for poor countries. Taking account of this effect would reduce the need for such large data revisions when new ICP data become available.</jats:p> Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes Review of Income and Wealth |
| spellingShingle | Ravallion, Martin, Review of Income and Wealth, Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes, Economics and Econometrics |
| title | Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| title_full | Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| title_fullStr | Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| title_full_unstemmed | Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| title_short | Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| title_sort | price levels and economic growth: making sense of revisions to data on real incomes |
| title_unstemmed | Price Levels and Economic Growth: Making Sense of Revisions to Data on Real Incomes |
| topic | Economics and Econometrics |
| url | http://dx.doi.org/10.1111/j.1475-4991.2012.00510.x |