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New Methodological Developments for the International Comparison Program

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Author Info
Diewert, Erwin

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Abstract

The 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 Iklé Dikhanov Balk multilateral system of index numbers which was used by Africa.

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File URL: http://www.econ.ubc.ca/diewert/dp0808.pdf
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Publisher Info
Paper provided by UBC Department of Economics in its series UBC Departmental Archives with number erwin_diewert-2008-11.

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Length: 51 pages
Date of creation: 25 Sep 2008
Date of revision: 25 Sep 2008
Handle: RePEc:ubc:bricol:erwin_diewert-2008-11

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Related research
Keywords: Index numbers; multilateral comparison methods; GEKS; EKS; Geary-Khamis; Balk; Dikhanov; Iklé; Country Product Dummy (CPD) method; basic headings; St;

Find related papers by JEL classification:
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 - - - Microeconomic Data
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

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  1. William Barnett & W. Erwin Diewert & Arnold Zellner, 2009. "Introduction to Measurement with Theory," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200906, University of Kansas, Department of Economics, revised Apr 2009. [Downloadable!]
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This page was last updated on 2009-11-27.

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