Purchasing Power Parities of Currencies: Recent Advances in Methods and Applications
D. S. Prasada Rao
Edward Elgar, 2009 - Political Science - 400 pages
This up-to-date book demonstrates how the purchasing power parities (PPPs) of currencies are being increasingly used in place of exchange rates for a variety of purposes. These include: comparisons of real income, measurements of global inequality and poverty, calculation of the human development index and assessment of nations economic performance.Despite the increasing popularity of PPPs, many users have very little appreciation of the data and methods used in their derivation. This timely monograph brings together a number of significant contributions from leading researchers in the field, offering a comprehensive review of the latest methods used in the construction and application of PPPs. The authors provide a broad overview of the current state-of-the-art both in terms of techniques as well as current practice with various international organisations.Given the increasing application of PPPs in this truly globalised world, this book will be a stimulating read for researchers and academics involved in international comparisons and development economics, general economists and economist statisticians.
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additive adjustment Afriat aggregation method approach average price axioms basic heading level benchmark bilateral comparisons calculated capita income chapter commodity compared construction consumption CPD method currency deflation derived destination Diewert domestic E-PPPs economic EKS method equation estimates Eurostat Eurostat-OECD example exchange rate final expenditure Fisher index function Geary-Khamis gross output groups Heston Ikle index number industry intermediate consumption intermediate inputs international comparisons international prices Kravis Kruskal's algorithm Laspeyres linked matrix consistency measures minimum-spanning tree multilateral comparisons national prices numeraire O-PPPs obtained OECD Paasche pair of countries participating countries PPPs price and quantity price competitiveness indices price data price index price levels price similarity price structures price vector problem Purchasing Power Parities quantity index ratios regions relative dissimilarity indexes relative price satisfy similarity index spanning tree specific Statistics Superlative Index survey Table volume weights World Bank