AN ECONOMETRIC APPROACH TO THE CONSTRUCTION OF COMPLETE PANELS OF PURCHASING POWER PARITIES: ANALYTICAL PROPERTIES AND EMPIRICAL RESULTS
Session Growth Empirics
Event/Category Macroeconomics
Session ChairFabrice Murtin, OECD

Presenter(s) Alicia Rambaldi, The University of Queensland
Co-Author(s) Howard Doran, The University of Queensland and D. S. Prasada Rao, The University of Queensland
Fields Growth and Other
Keywords Penn World Tables, Purchasing Power parities, Spatial autocorrelation and State-space models
JEL Codes C33, C53

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The paper presents analytical properties and empirical results from a new method for the construction of a consistent panel of Purchasing Power Parities (PPPs) which improves upon the current practice used in the construction of the Penn World Tables, PWT, and similar tables produced by the World Bank. An econometric model that allows the combination of several sources of information is represented in state-space form. The predictions (and standard errors) produce a complete panel of PPPs. A number of analytical and empirical results highlight the properties and flexibility of the method presented. Results are compared to PWT6.3.

 
When & Where
Wed 18 Aug 2010
14:15 - 16:15
Room Gran Melia B2
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    Paper Reference: 2931