Replication data for: Rationalizing the Penn World Table: True Multilateral Indices for International Comparisons of Real Income

Principal Investigator(s):  View help for Principal Investigator(s) J. Peter Neary

Version:  View help for Version V1

Name File Type Size Last Modified
80p-60.txt text/plain 7.6 KB 12/06/2019 10:22:AM
80q-60.txt text/plain 7.6 KB 12/06/2019 10:22:AM
LICENSE.txt text/plain 14.6 KB 12/06/2019 10:22:AM
basics.txt text/plain 5.8 KB 12/06/2019 10:22:AM
gaia.htm text/html 7.9 KB 12/06/2019 10:22:AM
gaiaquai.txt text/plain 10.1 KB 12/06/2019 10:22:AM
gearylib_lcg.txt text/plain 1.2 KB 12/06/2019 10:22:AM
gearylib_src.txt text/plain 21.7 KB 12/06/2019 10:22:AM
pop1980.txt text/plain 380 bytes 12/06/2019 10:22:AM
quaidest.txt text/plain 18.4 KB 12/06/2019 10:22:AM

Project Citation: 

Neary, J. Peter. Replication data for: Rationalizing the Penn World Table: True Multilateral Indices for International Comparisons of Real Income. Nashville, TN: American Economic Association [publisher], 2004. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116031V1

Project Description

Summary:  View help for Summary Real incomes are routinely compared internationally using methods that "correct" for deviations from purchasing power parity. The most widely used of these is the Geary method which, though theoretically suspect, underlies the Penn World Table. This paper provides a theoretical foundation for the Geary method which I call the GAIA ( "Geary-Allen International Accounts" ) system. I show that the Geary method is exact when preferences are non-homothetic Leontief and, more generally, gives a ( possibly poor ) approximation to the GAIA benchmark. An empirical application suggests that both it and other widely used methods underestimate the degree of international inequality.

Scope of Project

JEL Classification:  View help for JEL Classification
      C43 Index Numbers and Aggregation; Leading indicators
      E01 Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
      F31 Foreign Exchange
      F40 Macroeconomic Aspects of International Trade and Finance: General


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V1 [2019-12-06]

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