Differences in Canadian and US Income Levels, 1961 to 2008

John Baldwin

Insights on the Canadian Economy from Statistics Canada, Economic Analysis Division

Abstract: This paper examines the different types of deflators that are used to compare volume estimates of national income and production across countries. It argues that these deflators need to be tailored to the specific income concept used for study. If the potential to spend concept is employed, a purchasing power deflator is needed. If a production based concept is used, a producing power deflator is necessary. The paper argues that present practice produces a hybrid deflator that fails both purposes when terms of trade shifts are large and offers a solution.

Keywords: Economic accounts; Gross domestic product; Income and expenditure accounts (search for similar items in EconPapers)
Date: 2010-01-12
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Persistent link: https://EconPapers.repec.org/RePEc:stc:stcp2e:2010025e

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