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Using Online Prices for Measuring Real Consumption Across Countries

Author

Listed:
  • Alberto Cavallo
  • W. Erwin Diewert
  • Robert C. Feenstra
  • Robert Inklaar
  • Marcel P. Timmer

Abstract

We show that online prices can be used to construct quarterly purchasing power parities (PPPs) with a closely-matched set of goods and identical methodologies in a variety of developed and developing countries. Our results are close to those reported by the International Comparisons Program (ICP) in 2011 and the OECD in 2014, and can be used to obtain more up-to-date estimates of real consumption across countries without the need for consumer price index extrapolations. We discuss advantages and limitations associated with the use of online prices for PPs, including issues of representativeness and limited coverage of product categories and countries.

Suggested Citation

  • Alberto Cavallo & W. Erwin Diewert & Robert C. Feenstra & Robert Inklaar & Marcel P. Timmer, 2018. "Using Online Prices for Measuring Real Consumption Across Countries," NBER Working Papers 24292, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:24292
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    More about this item

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F0 - International Economics - - General
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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