Politicians and scientists have a strong interest in reliable regional and international comparisons of productivity, income, wages, and social benefits. Such comparisons require meaningful indicators of the regional and international price levels. The computation of such indicators utilizes...

This paper deals with the relationship between deflation and economic growth. Although there are numerous theories on the potential effects of deflation on real output, empirical evidence in this field is still scarce and partial. In order to explore the relationship between prices and output in...