New Methodology for Linking the Regions
The paper explains new methodology that was used in the 2005 International Comparison Program (ICP) that compared the relative price levels and GDP levels across 146 countries. In this round of the ICP, the world was divided into 6 regions: OECD, CIS, Africa, South America, Asia Pacific and West Asia. What is new in this round compared to previous rounds of the ICP is that each region was allowed to develop its own product list and collect prices on this list for countries in the region. The regions were then linked using another separate product list and 18 countries across the 6 regions collected prices for products on this list and this information was used to link prices and quantities across the regions. An additional complication was that the final linking of prices and volumes across regions had to respect the regional price and volume measures that were (separately) constructed by the regions.
|Date of creation:||24 Jul 2008|
|Date of revision:||09 Sep 2008|
|Contact details of provider:|| Web page: http://www.economics.ubc.ca/|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hill, Robert J., 2003.
"Constructing price indexes across space and time: the case of the European Union,"
GGDC Research Memorandum
200362, Groningen Growth and Development Centre, University of Groningen.
- Robert J. Hill, 2004. "Constructing Price Indexes across Space and Time: The Case of the European Union," American Economic Review, American Economic Association, vol. 94(5), pages 1379-1410, December.
- Hill, Robert J., 2003. "Constructing price indexes across space and time: the case of the European Union," Research Report 03C20, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- W. Erwin Diewert, 1999.
"Axiomatic and Economic Approaches to International Comparisons,"
in: International and Interarea Comparisons of Income, Output, and Prices, pages 13-107
National Bureau of Economic Research, Inc.
- W. Erwin Diewert, 1996. "Axiomatic and Economic Approaches to International Comparisons," NBER Working Papers 5559, National Bureau of Economic Research, Inc.
- James R. Cuthbert, 2000. "Theoretical and practical issues in purchasing power parities illustrated with reference to the 1993 Organization for Economic Co-operation and Development data," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 163(3), pages 421-444.
- Hill, Robert J, 2001. "Measuring Inflation and Growth Using Spanning Trees," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(1), pages 167-85, February.
- Robert J. Hill, 1999. "Comparing Price Levels across Countries Using Minimum-Spanning Trees," The Review of Economics and Statistics, MIT Press, vol. 81(1), pages 135-142, February.
When requesting a correction, please mention this item's handle: RePEc:ubc:bricol:erwin_diewert-2008-9. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maureen Chin)
If references are entirely missing, you can add them using this form.