Estimating real production and expenditures across nations a proposal for improving the Penn world tables

"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 sy...

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Main Author: Feenstra, Robert C.
Corporate Author: National Bureau of Economic Research
Format: eBook
Language:English
Published: Cambridge, MA National Bureau of Economic Research 2004, c2004
Series:NBER working paper series
Subjects:
Online Access:
Collection: World Bank E-Library Archive - Collection details see MPG.ReNa
Summary:"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"--National Bureau of Economic Research web site
Item Description:Includes bibliographical references. - Title from PDF file as viewed on 1/4/2005
Physical Description:Online-Ressource