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Measuring Real Investment : Trends in the United States and International Comparisons
Kirova, Milka S. - 2010
The standard measures of nominal capital formation show the United States investing a proportion of GDP much lower than those of other developed countries throughout the last 25 years and falling further behind over time. In contrast, measures we have calculated in real terms across countries...
Persistent link: https://www.econbiz.de/10012763622
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Measuring Real Consumption and CPI Bias Under Lockdown Conditions
Diewert, Erwin - 2020
Millions of goods and services are now unavailable in many countries due to the current coronavirus pandemic, dramatically impacting on the construction of key economic statistics used for informing policy. This situation is unprecedented; hence methods to address it have not previously been...
Persistent link: https://www.econbiz.de/10012833756
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Mismeasurement of the CPI
Ariga, Kenn; Matsui, Kenji - 2022
In this paper, we investigate several key problems in Japanese economic statistics. We use CPI mismeasurements and biases as an example to explore the roots of the problems and also to offer guidelines for improvements. We emphasize 3 major shortcomings shared by many official statistics in...
Persistent link: https://www.econbiz.de/10013324117
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Mismeasurement in the Consumer Price Index : An Evaluation
Shapiro, Matthew D.; Wilcox, David W. - 2022
living. This paper develops a framework for studying measurement problems in the consumer price index and systematically …A number of analysts have claimed recently that the consumer price index overstates the annual increase in the cost of … show how better to measure medical care prices, the paper presents a prototypical price index for cataract surgery. This …
Persistent link: https://www.econbiz.de/10013324463
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Hedonic Price Indexes and the Measurement of Capital and Productivity : Some Historical Reflections
Griliches, Zvi - 2021
the measurement of capital services and connects it to the Jorgenson-Griliches (1967) paper on the "explanation of …
Persistent link: https://www.econbiz.de/10013212907
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Axiomatic and Economic Approaches to International Comparisons
Diewert, W. Erwin - 2010
The paper considers the problem of choosing a multilateral system of index numbers in order to make aggregate price and … index number formula. The great variation in relative prices and quantities in the international context means that the … approach, the concept of a superlative bilateral index number formula (which can adequately model substitution effects) is …
Persistent link: https://www.econbiz.de/10013137597
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Regulating Mismeasured Pollution : Implications of Firm Heterogeneity for Environmental Policy
Lyubich, Eva - 2018
This paper provides the first estimates of within-industry heterogeneity in energy and CO2 productivity for the entire U.S. manufacturing sector. We measure energy and CO2 productivity as output per dollar energy input or per ton CO2 emitted. Three findings emerge. First, within narrowly defined...
Persistent link: https://www.econbiz.de/10012929555
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Who Shrunk China? Puzzles in the Measurement of Real GDP
Feenstra, Robert C. - 2012
The latest World Bank estimates of real GDP per capita for China are significantly lower than previous ones. We review possible sources of this puzzle and conclude that it reflects a combination of factors, including substitution bias in consumption, reliance on urban prices which we estimate...
Persistent link: https://www.econbiz.de/10013112848
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A Unified Welfare Analysis of Government Policies
Hendren, Nathaniel; Sprung-Keyser, Benjamin - 2021
We conduct a comparative welfare analysis of 133 historical policy changes over the past half-century in the United States, focusing on policies in social insurance, education and job training, taxes and cash transfers, and in-kind transfers. For each policy, we use existing causal estimates to...
Persistent link: https://www.econbiz.de/10013224352
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Estimating Real Production and Expenditures Across Nations : A Proposal for Improving the Penn World Tables
Feenstra, Robert C.; Heston, Alan W.; Timmer, Marcel P.; … - 2021
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...
Persistent link: https://www.econbiz.de/10013240994