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IMF Applications of Purchasing Power Parity Estimates

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  • Mick Silver

Abstract

The IMF’s main uses of the International Comparison Program’s (ICP) estimates of purchasing power parity (PPP)-adjusted Gross Domestic Product (GDP) are as an element of the formula used to help guide decisions on its members’ quotas and in the World Economic Outlook (WEO). The paper outlines these uses and considers measurement issues particularly salient to IMF usage including: PPP imputations for member countries not participating in the ICP; PPP estimates for non-benchmark years; timeliness and periodicity of PPP estimates; economy groupings; and transparency. The paper was written as a chapter on ?IMF uses of PPPs? for the 2011 ICP Handbook.

Suggested Citation

  • Mick Silver, 2010. "IMF Applications of Purchasing Power Parity Estimates," IMF Working Papers 2010/253, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2010/253
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24344
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    References listed on IDEAS

    as
    1. Johnson, Simon & Larson, William & Papageorgiou, Chris & Subramanian, Arvind, 2013. "Is newer better? Penn World Table Revisions and their impact on growth estimates," Journal of Monetary Economics, Elsevier, vol. 60(2), pages 255-274.
    2. Angus Deaton & Alan Heston, 2010. "Understanding PPPs and PPP-Based National Accounts," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(4), pages 1-35, October.
    3. repec:pri:rpdevs:understanding_ppps_complete_with_abstract_14nov08.pdf is not listed on IDEAS
    4. repec:pri:rpdevs:understanding_ppps_complete_with_abstract_14nov08 is not listed on IDEAS
    5. Mick Silver, 2009. "The Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations," IMF Working Papers 2009/271, International Monetary Fund.
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    Cited by:

    1. Yin‐Wong Cheung & Eiji Fujii, 2014. "Exchange Rate Misalignment Estimates—Sources Of Differences," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 19(2), pages 91-121, March.
    2. Gavin George & Bruce Rhodes, 2020. "The Economics of Teaching in India Versus Teaching Aboard: Teacher Salary Differentials Using Purchasing Power Parity (PPP)," Journal of International Migration and Integration, Springer, vol. 21(2), pages 551-561, June.
    3. Robert Hill & Daniel Melser, 2015. "Benchmark averaging and the measurement of changes in international income inequality," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 151(4), pages 767-801, November.
    4. Hill, Robert J., 2016. "A least squares approach to imposing within-region fixity in the International Comparisons Program," Journal of Econometrics, Elsevier, vol. 191(2), pages 407-413.

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