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The Country-Product-Dummy Method: A Stochastic Approach to the Computation of Purchasing Power Parities in the ICP

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Abstract

A paper for presentation at the SSHRC Conference on Index Numbers and Productivity Measurement to be held during 30 June � 3 July, 2004 in Vancouver. The author wishes to thank Bettina Aten, Erwin Diewert, Alan Heston, Chris O�Donnell and Marcel Timmer for helpful discussions on the subject matter of this paper.

Suggested Citation

  • D.S. Prasada Rao, 2004. "The Country-Product-Dummy Method: A Stochastic Approach to the Computation of Purchasing Power Parities in the ICP," CEPA Working Papers Series WP032004, School of Economics, University of Queensland, Australia.
  • Handle: RePEc:qld:uqcepa:08
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    File URL: http://www.uq.edu.au/economics/cepa/docs/WP/WP032004.pdf
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    References listed on IDEAS

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    1. 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.
    2. repec:pri:rpdevs:deaton_pppp_version_aug_06 is not listed on IDEAS
    3. 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.
    4. Hill, R., 1995. "Chained PPPs and Minimum Spanning Trees," Papers 95/40, New South Wales - School of Economics.
    5. Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin, 1982. "Multilateral Comparisons of Output, Input, and Productivity Using Superlative Index Numbers," Economic Journal, Royal Economic Society, vol. 92(365), pages 73-86, March.
    6. Selvanathan, E. A. & Prasada Rao, D. S., 1992. "An econometric approach to the construction of generalized Theil-Tornqvist indices for multilateral comparisons," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 335-346.
    7. 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.
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    Cited by:

    1. Mick Silver, 2009. "The Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations," IMF Working Papers 09/271, International Monetary Fund.
    2. Gholamreza Hajargasht & D. S. Prasada Rao, 2010. "Stochastic Approach To Index Numbers For Multilateral Price Comparisons And Their Standard Errors," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 32-58, June.
    3. Robert J. Hill & Iqbal A. Syed, 2015. "Improving International Comparisons of Prices at Basic Heading Level: An Application to the Asia-Pacific Region," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 61(3), pages 515-539, September.
    4. Daniel Melser & Iqbal A. Syed, 2016. "Life Cycle Price Trends and Product Replacement: Implications for the Measurement of Inflation," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(3), pages 509-533, September.
    5. Hassan, Fadi, 2016. "The price of development: The Penn–Balassa–Samuelson effect revisited," Journal of International Economics, Elsevier, vol. 102(C), pages 291-309.
    6. Fadi Hassan, 2011. "The Penn-Belassa-Samuelson Effect in Developing Countries: Price and Income Revisited," CEP Discussion Papers dp1056, Centre for Economic Performance, LSE.

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