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New data-gathering techniques, often referred to as "Big Data" have the potential to improve statistics and empirical research in economics. In this paper we describe our work with online data at the Billion Prices Project at MIT and discuss key lessons for both inflation measurement and some...
Persistent link: https://www.econbiz.de/10012456563
The World Bank prepares and publishes estimates of the number of poor people in the world. These numbers, particularly … around the world. They are the raw material in the debate on whether or not world growth reduces world poverty. This paper …. To a considerable extent, the failure of world poverty to fall in the face of world growth is a failure of household …
Persistent link: https://www.econbiz.de/10014136613
This paper considers the problem how to make real income comparisons between more than two countries or across more than two years. First, four basic requirements are formulated that we think a sensible way of comparing should satisfy. The Apples and Oranges theorem then shows that no method for...
Persistent link: https://www.econbiz.de/10014116341
This note provides quality-adjusted price indexes and nominal shipments data for highly disaggregate classes of semiconductor devices. These data may be used to construct indexes under different assumptions from those used in indexes that are currently available
Persistent link: https://www.econbiz.de/10014119328
world due to arbitrage. The popularity and following of the Big Mac Index led us to the following two questions: 1) How … Economist and from the World Bank for 54 countries. The importance of these findings lie on the widespread use of the index and …
Persistent link: https://www.econbiz.de/10013055284
The Big Mac Index was introduced to (semi-humorously) test the theory of purchasing power parity and measure the disparity in currency values. Instead, in this paper, we consider this index to find out the per capita real-income disparity across 54 countries. We find that the per capita...
Persistent link: https://www.econbiz.de/10013055289
This paper describes the primary framework associating the four principal price indices in the system of economic statistics-the Producer Price Index (PPI), the Consumer Price Index (CPI), and the Export and Import Price Indices (XPI and MPI)-with the macroeconomic value aggregates they...
Persistent link: https://www.econbiz.de/10013317951
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