Australia, Japan and the OECD: GDP Rankings and Revealed Preference
Steve Dowrick and
John Quiggin ()
Australian Economic Review, 1993, vol. 26, issue 1, 21-34
Data on volumes and prices of consumption and investment are used to compare Australian real GDP for 1990 with the other OECD countries. Australian consumption patterns, including leisure, and price structure are very different from most other countries and especially from those of Japan. The Australian bundle of consumption, investment and leisure is revealed preferred to that of Japan and a number of other countries which are conventionally ranked above Australia in comparisons of real GDP per capita at international prices.
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