estimate the purchasing power parity (PPP) bias in Penn World Table incomes and provide corrected incomes. The bias is … bias and the bias in consumer price index (CPI) numbers. The PPP bias and subsequent corrected incomes are measured by …

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate …. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price …

the case of the disaggregate data as compared to 6%-14% based on aggregate price series …

predicted by estimates based upon a cross-country sample, when using the 2006 vintage of the World Development Indicators. The …

substantially affected by the ICP price revision. Further, we find that differences in misalignment estimates are systematically …

In this paper we show that price equalization alone is not sufficient to determine the barriers to international trade …. There are many barrier combinations that deliver price equalization, but each combination implies a different volume of … goods will deliver price equalization in capital goods, but cannot reproduce the observed trade flows …

We use a new dataset on non-resource GDP to examine the impact of commodity price volatility on economic growth in a … panel of up to 158 countries during the period 1970-2007. Our main finding is that commodity price volatility leads to a … result, we show that increased commodity price volatility leads to a statistically significant and quantitatively large …