| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24419 |
| 来源ID | Working Paper 24419 |
| Shining a Light on Purchasing Power Parities | |
| Maxim Pinkovskiy; Xavier Sala-i-Martin | |
| 发表日期 | 2018-03-19 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Nighttime lights data are a measure of economic activity whose error is plausibly independent of the measurement errors of most conventional indicators. Therefore, we can use nighttime lights as an independent benchmark to assess existing measures of economic activity (Pinkovskiy and Sala-i-Martin (2016)). We employ this insight to generate three findings in the study of PPP-adjusted estimates of GDP around the world between 1992 and 2010. First, we find that while market exchange rates described poor economies better than did PPP-adjusted estimates in the late 1990s (Dowrick and Akmal 2008; Almas 2012), this pattern has disappeared by the 2010s. Second, we also find that estimates of PPPs have been steadily improving from one price survey round to the next, including during the controversial 2005 and 2011 rounds. Third, we leverage this fact to assess whether it is optimal to measure relative prices as close as possible to the year of interest or to use the latest available relative price data and discard the rest, and provide a theoretical framework in which the latter may be optimal. Using data from the Penn World Tables, we find that, indeed, it is optimal to only use the latest price data, and hence, to revise existing PPP-adjusted estimates whenever a new price survey is released. |
| 主题 | Other ; General, Teaching ; Macroeconomics ; International Economics |
| URL | https://www.nber.org/papers/w24419 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582093 |
| 推荐引用方式 GB/T 7714 | Maxim Pinkovskiy,Xavier Sala-i-Martin. Shining a Light on Purchasing Power Parities. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24419.pdf（1624KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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