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A Restricted-Domain Multilateral Test Approach to the Theory of International Comparisons

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Abstract

This paper develops a novel multilateral test approach to the problem of international comparisons. Many of the associated tests are justified as "reasonable" using the fact that they are direct analogues to properties of the cost-of-living index. Further support is bestowed upon the new approach by showing that it is equivalent to an extended version of Diewert's (1986) multilateral test approach. Finally, a number of alternative multilateral comparison formulae are evaluated and the relative superiority or two of them is established.

Suggested Citation

  • Keir Armstrong, 1996. "A Restricted-Domain Multilateral Test Approach to the Theory of International Comparisons," Carleton Economic Papers 96-03, Carleton University, Department of Economics.
  • Handle: RePEc:car:carecp:96-03
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    Keywords

    index numbers; tests approaches to index number theory; multilateral comparisons; purchasing power parities;

    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 - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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