The Stochastic Approach to International Price Comparisons

Gholamreza Hajargasht ()
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Gholamreza Hajargasht: University of Queensland

Chapter Chapter 12 in Advances in Economic Measurement, 2022, pp 607-632 from Springer

Abstract: Abstract This paper provides an overview of the stochastic approach to the construction of purchasing power parities (PPPs) and their reliability measures. We first describe the Country-Product-Dummy method (CPD) and derive a range of multilateral index numbers including Geary-Khamis (GK), Rao and Ikle-Dikhanov-Balk (IDB) indexes and their reliability measures at the basic heading level as well as higher levels of aggregation. Derivation of reliability measures for Gini-Elteto-Koves-Szulc (GEKS) is briefly reviewed as well.

Keywords: Purchasing Power Parities; International Comparison Program; Stochastic Approach; Country Product Dummy (CPD); Reliability Measures (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-2023-3_12

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DOI: 10.1007/978-981-19-2023-3_12

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