Estimating Real Production and Expenditures Across Nations : A Proposal for Improving the Penn World Tables
Robert C. Feenstra, Alan Heston, Marcel P. Timmer, Haiyan Deng
In this paper we propose a new approach to international comparisons of real GDP measured from the output-side. The traditional Geary-Khamis system to measure real GDP from the expenditure-side is modified to include differences in the terms of trade between countries. It is shown that this system has a strictly positive solution under mild assumptions. On the basis of a set of domestic final output, import and export prices and values for 14 European countries and the U.S. it is shown that differences between real GDP measured from the expenditure and output-side can be substantial, especially for small open economies
Year of publication: |
November 2004
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Authors: | Feenstra, Robert C. |
Other Persons: | Heston, Alan (contributor) ; Deng, Haiyan (contributor) ; Timmer, Marcel P. (contributor) |
Institutions: | National Bureau of Economic Research (contributor) |
Publisher: |
Cambridge, Mass : National Bureau of Economic Research |
Subject: | Welt | World | Nationaleinkommen | National income | Vergleich | Comparison | Messung | Measurement | Terms of Trade | Terms of trade |
Saved in:
Extent: | 1 Online-Ressource |
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Series: | NBER working paper series ; no. w10866 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Hardcopy version available to institutional subscribers. |
Other identifiers: | 10.3386/w10866 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012467823