International Comparisons of Real Product, 1820-1990: An Alternative Data Set
AbstractIn this paper a new set of current price estimates of per capita income, adjusted for each currency's purchasing power, is presented for more than twenty countries over the last one and a half centuries. A short-cut method is used to derive current price comparisons for countries and periods in which aggregate PPPs are not available. Current price estimates of PPP-adjusted GDP appear to be more economically sound than constant price figures as economic agents react to current, not to constant, prices and, therefore, would allow us more appropiate cross-country comparisons of welfare and productivity. Moreover, the new estimates tend to mitigate the index number problem by rendering less remote benchmarks for constant price comparisons than widely used datasets at constant 1985 or 1990 "international" dollars. Country rankings in the new data set are different from those provided by earlier cross-country comparisons and among the new findings the earlier US leadership and the closer position of Britain and France over the long 191h century can be highlighted.
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Bibliographic InfoArticle provided by Elsevier in its journal Explorations in Economic History.
Volume (Year): 37 (2000)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/622830
Other versions of this item:
- Prados de la Escosura, Leandro, . "International comparisons of real product, 19820-1990: an alternative dataset," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/6177, Universidad Carlos III de Madrid.
- Prados de la Escosura, Leandro, . "International comparisons of real product, 1820-1990 : an alternative data set," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/4725, Universidad Carlos III de Madrid.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- O'Rourke, K., 1990. "The Costs Of International Economic Disintegration: Ireland In The 1930'S," Papers fb-_90-16, Columbia - Graduate School of Business.
- O'Brien, Patrick K. & Prados de la Escosura, Leandro, . "Agricultural productivity and european industrialization, 1890-1980.," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/2829, Universidad Carlos III de Madrid.
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- O'Rourke, Kevin H. & Williamson, Jeffrey G., 1997. "Around the European periphery 1870 1913: Globalization, schooling and growth," European Review of Economic History, Cambridge University Press, vol. 1(02), pages 153-190, August.
- O'Rourke, Kevin H & Williamson, Jeffrey G, 1996. "Around the European Periphery 1870-1913: Globalization, Schooling and Growth," CEPR Discussion Papers 1343, C.E.P.R. Discussion Papers.
- Dan Ben-David & Michael B. Loewy, 1997.
"Free Trade, Growth, and Convergence,"
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6095, National Bureau of Economic Research, Inc.
- O Grada, Cormac, 1995. "Ireland: A New Economic History 1780-1939," OUP Catalogue, Oxford University Press, number 9780198205982.
- O'Rourke, Kevin & Williamson, Jeffrey G., 1994. "Late Nineteenth-Century Anglo-American Factor-Price Convergence: Were Heckscher and Ohlin Right?," The Journal of Economic History, Cambridge University Press, vol. 54(04), pages 892-916, December.
- O'Rourke, Kevin H & Taylor, Alan M & Williamson, Jeffrey G, 1996. "Factor Price Convergence in the Late Nineteenth Century," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(3), pages 499-530, August.
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