The International Comparison Program (ICP) compares levels of economic activity and relative price levels among countries of the world. The main feature of the ICP is that it produces spatial indexes or purchasing power parities (PPPs) that allow cross-country comparison of gross domestic...

Purchasing power parities (PPPs) estimated on an annual basis are used in many analyses and are highly demanded by researchers in various fields, ranging from poverty and comparative living standards, to competitiveness and military expenditures. However, the regular PPP exercises are conducted...