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Alternative Measures of OECD Output Growth and Inflation

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  • Diewert, Erwin

Abstract

The paper addresses two problems: (i) how to measure aggregate real output and inflation for a group of countries and (ii) how to construct measures of real GDP for a group of countries where the country measures of real GDP are comparable across time and space. In order to address the second problem, it is necessary that the group of countries construct at least one set of Purchasing Power Parities (PPPs). The OECD constructs PPPs for its 34 member countries on an annual basis and publishes these PPPs and related measures of GDP and so OECD data for the years 2000-2012 are used to study the above two problems. The paper proposes a new method for harmonizing conflicting estimates of member country real GDP (that arise from the PPP generated cross sectional estimates of relative GDP) with estimates of country GDP that are consistent with national growth rates of GDP.

Suggested Citation

  • , & Diewert, Erwin, 2014. "Alternative Measures of OECD Output Growth and Inflation," Economics working papers erwin_diewert-2014-1, Vancouver School of Economics, revised 20 Feb 2014.
    • Handle: RePEc:ubc:bricol:erwin_diewert-2014-1
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    File URL: http://www.economics.ubc.ca/files/2014/02/pdf_paper_erwin-diewert-1401-alternative.pdf
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    Cited by:

    1. D. S. Prasada Rao & Alicia N. Rambaldi & Bert M. Balk, 2015. "On Measuring Regional or Global Growth and Inflation," Discussion Papers Series 552, School of Economics, University of Queensland, Australia.

    More about this item

    Keywords

    Purchasing Power Parities; PPPs; OECD country statistics; inflation; price and volume indexes; Fisher indexes.;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts

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