The Next Generation of the Penn World Table
Robert C. FeenstraDepartment of Economics, University of California-Davis, 1 Shields Avenue, Davis, CA 95616, and NBER (e-mail: )Robert InklaarFaculty of Economics and Business, University of Groningen, PO Box 800, 9700 AV Groningen, Netherlands (e-mail: )Marcel P. TimmerFaculty of Economics and Business, University of Groningen, PO Box 800, 9700 AV Groningen, Netherlands (e-mail: )
2015en
ABI
Annotatsiya
We describe the theory and practice of real GDP comparisons across countries and over time. Version 8 of the Penn World Table expands on previous versions in three respects. First, in addition to comparisons of living standards using components of real GDP on the expenditure side, we provide a measure of productive capacity, called real GDP on the output side. Second, growth rates are benchmarked to multiple years of cross-country price data so they are less sensitive to new benchmark data. Third, data on capital stocks and productivity are (re)introduced. Applications including the Balassa-Samuelson effect and development accounting are discussed. (JEL C43, C82, E01, E23, I31, O47)
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