Purchasing power parity research papers

In addition, economists have argued that neither nominal nor PPP forms of GDP can adequately describe the overall strength of China's economy. Leland Miller, whose China Beige Book surveys firms to measure China's economy, believes that the country's statistics are largely inaccurate, as political and logistical considerations preclude accuate data collection. And according to Bao Beibei, a China analyst at Rhodium Group, a New York-based consultancy, GDP's deficiencies -- including its failure to measure environmental and social costs -- have led economists to seek alternative tools for measuring the country's economic wellbeing. 

Purchasing power parity solves the problem of comparing countries with different standards of living. It recalculates the value of a country's goods and services as if they were being sold at . prices. Under PPP, a Chinese Big Mac costs $, the same as it does in the United States. As a result, China's  GDP  under PPP is $ trillion. That makes it the  world's largest economy , ahead of the European Union and the United States. That's why the CIA provides GDP estimates on both an official exchange rate and a purchasing power parity basis.

As of June 20, 2014, the full set of detailed  2011 International Comparison Program results  can be accessed by downloading the data in Excel. This data are available for ICP 2011 regions or economic groupings: Africa, Asia and the Pacific, the Caribbean, the Commonwealth of Independent States (CIS), Eurostat-OECD, Latin America, Western Asia, singleton economies, and the Pacific Islands. Also included are estimates for non-benchmark economies. The data covers 26 expenditures categories for goods and services, and several indicators including PPPs, expenditure shares of GDP, total and per capita expenditures in USD both in exchange rate terms and PPP terms, and price level indices.

Purchasing power parity research papers

purchasing power parity research papers

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