Showing 1 - 10 of 587
eurozone members. However, real exchange rates are very closely tied to relative GDP per capita within Europe, both across …
Persistent link: https://www.econbiz.de/10012462902
The real exchange rate (RER) has been called the single most important price, yet its behavior exhibits several puzzles. In this project, we use Big Mac prices as a unique prism to study the movement of real exchange rates. Part of our innovation is to match these prices to the prices of...
Persistent link: https://www.econbiz.de/10012468620
A recent literature has advanced the use of Engel curves to estimate overall CPI bias. In this paper, I show that the methodology is sensitive to the modeling of household demography. Existing estimates of CPI bias do not account for the changing effect of household size on budget shares, and...
Persistent link: https://www.econbiz.de/10012464777
PPP-based national accounts have become an important part of the database for macroeconomists, development economists, and economic historians. Frequently used global data come from the Penn World Table (PWT) and the World Bank's World Development Indicators; a substantial fraction of the world...
Persistent link: https://www.econbiz.de/10012464148
Aggregate price levels are positively related to GDP per capita across countries. We propose a mechanism that rationalizes this observation through sectorial differences in intermediate input shares. As aggregate productivity and income grow, so do wages relative to intermediate input prices,...
Persistent link: https://www.econbiz.de/10012454977
We analyze the effect of fertility on income per capita with a particular focus on the experience of Europe. For …
Persistent link: https://www.econbiz.de/10012463827
This paper briefly summarizes the analysis and findings of the 1996 Boskin Commission Report, Toward a More Accurate Measure of the Cost of Living. It then reviews the comments and criticisms that appeared soon after the Report was issued and provides responses to the more important criticisms....
Persistent link: https://www.econbiz.de/10012470991
The recent financial crisis in Indonesia has resulted in dramatic price increases. Using very recent data, we investigate whether these price increases have impacted the cost-of-living of poor households in a disproportionately harsh way. We find that the poor have indeed been hit hardest. Just...
Persistent link: https://www.econbiz.de/10012471594
An indexed unit of account is a unit of measurement defined using an index such as a consumer price index so that prices defined in terms of these units will automatically adjust to changing economic conditions. Evidence on sticky prices and money illusion, and evidence from countries (notably...
Persistent link: https://www.econbiz.de/10012471627
What are the unequal effects of changes in consumer prices on the cost of living? In the context of changes in import prices, most analyses focus on variation across households in initial expenditure shares on imported goods. However, the unequal welfare effects of non-marginal foreign price...
Persistent link: https://www.econbiz.de/10012938726