dc.contributor.author | Liam, Brunt | |
dc.contributor.author | Antonio Fidalgo | |
dc.date.accessioned | 2018-11-28T14:18:44Z | |
dc.date.available | 2018-11-28T14:18:44Z | |
dc.date.issued | 2018-11 | |
dc.identifier.issn | 0804-6824 | |
dc.identifier.uri | http://hdl.handle.net/11250/2575366 | |
dc.description.abstract | Using a large, new dataset of agricultural prices and quantities for many countries and regions, we create five new international Geary-Khamis pounds – for 1870, 1845, 1775, 1705, and a superior chained series. We show that estimated levels and changes in output per worker look very different – more extreme – using 1705 international pounds and 1990 international dollars, compared to all other series; growth rates appear substantially higher using 1990 international dollars. In short, out-of-sample baskets and/or prices create extremely unreliable output estimates. We also show that individual country price indices (rather than international indices) can generate substantially different estimated growth rates. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Institutt for samfunnsøkonomi | nb_NO |
dc.relation.ispartofseries | DP SAM;25/2018 | |
dc.subject | Geary-Khamis prices, economic growth, international comparisons, price indices | nb_NO |
dc.title | Why 1990 international Geary-Khamis dollars cannot be a foundation for reliable long run comparisons of GDP | nb_NO |
dc.type | Working paper | nb_NO |
dc.subject.nsi | Samfunnsvitenskap | nb_NO |
dc.source.pagenumber | 14 | nb_NO |