"In this paper we propose a new approach to international comparisons of real GDP measured from the output-side. The traditional Geary-Khamis system to measure real GDP from the expenditure-side is modified to include differences in the terms of trade between countries. It is shown that this...

This chapter reviews the ways that economists measure the aggregate economic performance of national economies. Efficiency and productivity analysis using the methodologies of data envelopment analysis and stochastic frontier analysis has made a significant contribution to this challenge after...