Standard ways of measuring real income are known to be inconsistent with consumer preferences. We provide preference …-consistent estimates of real income, based on the income-specific price indices that are consistent with nonhomothetic preferences. We find … income is overestimated by these measures. Consequently, international income inequality is underestimated by the same …

United States, Russia, and most European countries) and represent 70% of world GDP and 60% of world population. We quantify …

treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …

treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …

treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …