New Methodological Developments for the International Comparison Program
AbstractThe paper explains new methodology that was used in the 2005 International Comparison Program (ICP) that compared the relative price levels and GDP levels across 146 countries. In this round of the ICP, the world was divided into 6 regions: OECD, CIS, Africa, South America, Asia Pacific and West Asia. What is new in this round compared to previous rounds of the ICP is that each region was allowed to develop its own product list and collect prices on this list for countries in the region. The regions were then linked using another separate product list and 18 countries across the 6 regions collected prices for products on this list and this information was used to link prices and quantities across the regions. An additional complication was that the final linking of prices and volumes across regions had to respect the regional price and volume measures that were (separately) constructed by the regions. The paper also studies the properties of the IklÃ© Dikhanov Balk multilateral system of index numbers which was used by Africa.
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Bibliographic InfoPaper provided by Vancouver School of Economics in its series Economics working papers with number erwin_diewert-2008-11.
Length: 51 pages
Date of creation: 25 Sep 2008
Date of revision: 25 Sep 2008
Contact details of provider:
Web page: http://www.economics.ubc.ca/
Index numbers; multilateral comparison methods; GEKS; EKS; Geary-Khamis; Balk; Dikhanov; IklÃ©; Country Product Dummy (CPD) method; basic headings; St;
Other versions of this item:
- Erwin Diewert, 2010. "New Methodological Developments For The International Comparison Program," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages S11-S31, 06.
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-13 (All new papers)
- NEP-DEV-2008-10-13 (Development)
- NEP-MAC-2008-10-13 (Macroeconomics)
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WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS
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- Barnett, William A. & Erwin Diewert, W. & Zellner, Arnold, 2011. "Introduction to measurement with theory," Journal of Econometrics, Elsevier, vol. 161(1), pages 1-5, March.
- Barnett, William A. & Diewert, W. Erwin & Zellner, Arnold, 2009. "Introduction To Measurement With Theory," Macroeconomic Dynamics, Cambridge University Press, vol. 13(S2), pages 151-168, September.
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