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Utilisation of Direct and Indirect Estimates of Real GDP Per Capita: Implications of the Errors in the Variables Model

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  • Stollar, Andrew J
  • Grubaugh, Stephen G
  • Thompson, G Rodney

Abstract

Several professional journals have presented the results of a series of recent studies on the nature and form of the relationship between real income per capita (purchasing-power-parity adjusted) and nominal income (exchange-rate adjusted). This paper extends that analysis by applyi ng the errors-in-the-variables model, a technique that allows for estimation of the asymptotic parameter bias that exists when using either a mixed vector of direct and indirect real GDP estimates or a nominal income vector. Statistical concerns about the form of the equation used to generate indirect estimates are also presented. Copyright 1987 by Royal Economic Society.

Suggested Citation

  • Stollar, Andrew J & Grubaugh, Stephen G & Thompson, G Rodney, 1987. "Utilisation of Direct and Indirect Estimates of Real GDP Per Capita: Implications of the Errors in the Variables Model," Economic Journal, Royal Economic Society, vol. 97(386), pages 468-478, June.
    • Handle: RePEc:ecj:econjl:v:97:y:1987:i:386:p:468-78
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