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"Currency values, prices, consumption and incomes are at the heart of the economic performance of all countries. In order to make a meaningful comparison between one economy and another, economists routinely make use of purchasing power parity (PPP) exchange rates, but whilst PPP rates are...
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estimate the purchasing power parity (PPP) bias in Penn World Table incomes and provide corrected real incomes. The bias is … bias and the bias in consumer price index (CPI) numbers. The PPP bias, and consequently real incomes, is measured by …
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