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The Role of Prices in Welfare Comparisons: Methodological Developments and a Selective Survey of the Empirical Literature

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  • Ranjan Ray

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  • Ranjan Ray, 2017. "The Role of Prices in Welfare Comparisons: Methodological Developments and a Selective Survey of the Empirical Literature," The Economic Record, The Economic Society of Australia, vol. 93(301), pages 314-332, June.
    • Handle: RePEc:bla:ecorec:v:93:y:2017:i:301:p:314-332
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    File URL: http://hdl.handle.net/10.1111/1475-4932.12313
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    1. Martin Ravallion, 2016. "Toward better global poverty measures," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 14(2), pages 227-248, June.
    2. D. Coondoo & A. Majumder & R. Ray, 2004. "A Method of Calculating Regional Consumer Price Differentials with Illustrative Evidence from India," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 50(1), pages 51-68, March.
    3. Peter Edward & Andy Sumner, 2015. "New estimates of global poverty and inequality: How much difference do price data," Working Papers 365, ECINEQ, Society for the Study of Economic Inequality.
    4. D. S. Prasada Rao, 2005. "On The Equivalence Of Weighted Country‐Product‐Dummy (Cpd) Method And The Rao‐System For Multilateral Price Comparisons," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(4), pages 571-580, December.
    5. Muellbauer, John, 1974. "Household composition, Engel curves and welfare comparisons between households : A duality approach," European Economic Review, Elsevier, vol. 5(2), pages 103-122, August.
    6. Ankita Mishra & Ranjan Ray, 2011. "Prices, Inequality, And Poverty: Methodology And Indian Evidence," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 57(3), pages 428-448, September.
    7. Dipankor Coondoo & Amita Majumder & Somnath Chattopadhyay, 2011. "Estimating Spatial Consumer Price Indices Through Engel Curve Analysis," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 57(1), pages 138-155, March.
    8. R. G. D. Allen, 1975. "Index Numbers in Theory and Practice," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-02312-7, December.
    9. Peter Edward and Andy Sumner, 2015. "New Estimates of Global Poverty and Inequality: How Much Difference Do Price Data Really Make? - Working Paper 403," Working Papers 403, Center for Global Development.
    10. Erwin Diewert, 2005. "Weighted Country Product Dummy Variable Regressions And Index Number Formulae," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(4), pages 561-570, December.
    11. Nicholas Oulton, 2012. "How To Measure Living Standards And Productivity," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 58(3), pages 424-456, September.
    12. Pendakur, Krishna, 2002. "Taking prices seriously in the measurement of inequality," Journal of Public Economics, Elsevier, vol. 86(1), pages 47-69, October.
    13. Ankita Mishra & Ranjan Ray, 2014. "Spatial Variation in Prices and Expenditure Inequalities in Australia," The Economic Record, The Economic Society of Australia, vol. 90(289), pages 137-159, June.
    14. Rao, D.S. Prasada & Hajargasht, Gholamreza, 2016. "Stochastic approach to computation of purchasing power parities in the International Comparison Program (ICP)," Journal of Econometrics, Elsevier, vol. 191(2), pages 414-425.
    15. Amartya Sen, 1976. "Real National Income," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 43(1), pages 19-39.
    16. Amita Majumder & Ranjan Ray & Sattwik Santra, 2016. "Global and Country Poverty Rates, Welfare Rankings of the Regions and Purchasing Power Parities: How Robust Are the Results?," Monash Economics Working Papers 11-16, Monash University, Department of Economics.
    17. Amita Majumder & Ranjan Ray & Kompal Sinha, 2012. "Calculating Rural-Urban Food Price Differentials from Unit Values in Household Expenditure Surveys: A Comparison with Existing Methods and A New Procedure," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(5), pages 1218-1235.
    18. Kenneth Clements & Yihui Lan, 2007. "Exchange rates, productivity, poverty and inequality," Applied Economics, Taylor & Francis Journals, vol. 39(4), pages 471-476.
    19. Aaron Nicholas & Ranjan Ray & Ma. Rebecca Valenzuela, 2010. "Evaluating the Distributional Implications of Price Movements: Methodology, Application and Australian Evidence," The Economic Record, The Economic Society of Australia, vol. 86(274), pages 352-366, September.
    20. Robert Summers, 1973. "International Price Comparisons Based Upon Incomplete Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 19(1), pages 1-16, March.
    21. Ray, Ranjan, 1983. "Measuring the costs of children : An alternative approach," Journal of Public Economics, Elsevier, vol. 22(1), pages 89-102, October.
    22. Muellbauer, John, 1977. "Testing the Barten Model of Household Composition Effects and the Cost of Children," Economic Journal, Royal Economic Society, vol. 87(347), pages 460-487, September.
    23. Amita Majumder & Ranjan Ray & Kompal Sinha, 2015. "Estimating Purchasing Power Parities from Household Expenditure Data Using Complete Demand Systems with Application to Living Standards Comparison: India and Vietnam," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 61(2), pages 302-328, June.
    24. Aten, Bettina, 1996. "Evidence of Spatial Autocorrelation in International Prices," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(2), pages 149-163, June.
    25. Ray, Ranjan, 1985. "Prices, Children and Inequality: Further Evidence for the United Kingdom, 1965-82," Economic Journal, Royal Economic Society, vol. 95(380), pages 1069-1077, December.
    26. Clements, Kenneth W & Izan, H Y, 1981. "A Note on Estimating Divisia Index Numbers," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(3), pages 745-747, October.
    27. Muellbauer, John, 1974. "Prices and Inequality: The United Kingdom Experience," Economic Journal, Royal Economic Society, vol. 84(333), pages 32-55, March.
    28. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
    29. Majumder,Amita & Ray,Ranjan & Santra,Sattwik, 2015. "Preferences, purchasing power parity, and inequality : analytical framework, propositions, and empirical evidence," Policy Research Working Paper Series 7395, The World Bank.
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    Cited by:

    1. Long Hai Vo, 2023. "Understanding International Price and Consumption Disparities," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 69(2), pages 443-473, June.
    2. Hai Long Vo & Duc Hong Vo, 2023. "The purchasing power parity and exchange‐rate economics half a century on," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 446-479, April.

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