A Restricted-Domain Multilateral Test Approach to the Theory of International Comparisons(revised and extended version of CEP 96-03)

Keir G. Armstrong

No 99-16, Carleton Economic Papers from Carleton University, Department of Economics

Abstract: This paper develops a novel multilateral test approach to the problem of international comparisons. Many of the associated tests are justi¯ed as\reasonable" using the fact that they are direct analogues to properties of the cost-of-living index. Further support is bestowed upon the new approach by showing that it is equivalent to an extended version of Diewert's (1986) multilateral test approach. Finally, a number of alternative multilateral comparison formulae are evaluated and the relative superiority of two of them is established.

Keywords: Index numbers; test approaches to index number theory; multilateral comparisons, purchasing power parities. (search for similar items in EconPapers)
JEL-codes: C43 C81 E31 F31 F43 O18 O57 (search for similar items in EconPapers)
Date: 1999-09, Revised 2003-02
Note: revised & extended version of CEP 96-03
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Published: – further revised version in International Economic Review, Vol. 44, No. 1 (February 2003), pp. 31–86

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