Output Growth and Inflation across Space and Time

Walter Diewert and Kevin Fox

No 2015-04, Discussion Papers from School of Economics, The University of New South Wales

Abstract: It is common for comparisons to be made of output growth and inflation across groups of countries, yet such comparisons can result in inconsistencies. We address two problems: (i) how to measure aggregate real output and inflation for groups of countries and (ii) how to construct measures of real GDP for a group of countries where the country measures of real GDP are consistent across time and space. A method is proposed for harmonizing conflicting estimates of OECD member-country real GDP, ensuring consistency over space and overall group consistency over time. A new measure of OECD inflation is also proposed.

Keywords: Purchasing Power Parities; PPPs; ICP; OECD country statistics; inflation; price and volume indexes; Fisher indexes; country competitiveness (search for similar items in EconPapers)
JEL-codes: C43 C82 E01 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2015-03
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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