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Engel's law is known to be extraordinarily consistent across time and space. Accordingly, it has been widely used to determine poverty. However, also among the poorest, a certain amount of non food spending is necessary. To substantiate the distinction between necessities and luxuries, already...
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Purchasing power adjusted incomes applied in cross-country comparisons are measured with bias. In this paper, we estimate the purchasing power parity (PPP) bias in Penn World Table incomes and provide corrected incomes. The bias is substantial and systematic: the poorer a country, the more its...
Persistent link: https://www.econbiz.de/10013135914
Engel's law is known to be extraordinarily consistent across time and space. Accordingly, it has been widely used to determine poverty. However, also among the poorest, a certain amount of non food spending is necessary. To substantiate the distinction between necessities and luxuries, already...
Persistent link: https://www.econbiz.de/10013103958
Price-adjusted data on national incomes applied in cross-country comparisons are measured with bias. By studying micro data, this paper finds that the bias is systematic: the poorer a country is, the more its income tends to be overestimated. Consequently, international income inequalities are...
Persistent link: https://www.econbiz.de/10014198273
India's policy responses to the food price crisis were strong. Exports of basic staples were banned. Domestic support … production by 20 MMT over the subsequent five years. The results: India contained food inflation below 7 per cent in 2007 … robust production and stock levels, rice exports surged when India freed up its exports in September 2011, making it a world …
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