Politicians and scientists have a strong interest in reliable regional and international comparisons of productivity, income, wages, and social benefits. Such comparisons require meaningful indicators of the regional and international price levels. The computation of such indicators utilizes...

We develop the theory of price-level determination in a range of models using both ad hoc policy rules and jointly optimal monetary and fiscal policies and discuss empirical issues that arise when trying to identify monetary–fiscal regime. The chapter concludes with directions in which...

This dataset contains monthly comparative price levels (CPL) which are defined as the ratios of purchasing power parities (PPPs) for private final consumption expenditure to exchange rates. They provide measures of differences in price levels between countries. The monthly PPPs used to derive...