academics in studies of economic growth, particularly through the Penn World Table, and in some cases, to allocate resources … extrapolation of the previous round, ICP 2005. These discrepancies will eventually have important implications for the Penn World … Table, and for international comparisons of living standards. The world according to ICP 2011 looks markedly more equal than …

, that are superior to those implied by the absolute or relative versions of purchasing power parity theory. The structural …

The purpose of this paper is to call attention to the need for a theory of comparative national price levels and to … explore some of the elements that seem to belong to such a theory. Most theoretical discussions have maintained that national …

CPS, measurement error will not be a white noise process, but instead it will be characterized by serial correlation of a … series. We also find that optimal treatment of the measurement error which accounts for the serial correlation can reduce the …

almost all these papers ignore the bias in the estimated standard errors that serial correlation introduce4s. This is …