1.

Record Nr.

UNINA990009315890403321

Autore

Godley, Wynne <1926-2010>

Titolo

Monetary economics : an integrated approach to credit, money, income, production and wealth / Wynne Godley and Marc Lavoie

Pubbl/distr/stampa

Basingstoke : Palgrave Macmillan, 2007

ISBN

978-0-230-50055-6

Descrizione fisica

XLIII, 530 p. ; 22 cm

Altri autori (Persone)

Lavoie, Marc

Locazione

DTE

Collocazione

XV M1 433

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

2.

Record Nr.

UNINA9910788222603321

Autore

Silver Mick

Titolo

The Hedonic Country Product Dummy Method and Quality Adjustments for Purchasing Power Parity Calculations / / Mick Silver

Pubbl/distr/stampa

Washington, D.C. : , : International Monetary Fund, , 2009

ISBN

1-4623-6282-6

1-4518-7416-2

9786612844584

1-282-84458-X

1-4527-8537-6

Descrizione fisica

28 p

Collana

IMF Working Papers

Soggetti

Purchasing power parity

Purchasing power

Investments: Metals

Foreign Exchange

Macroeconomics

Public Finance

National Government Expenditures and Related Policies: Infrastructures

Other Public Investment and Capital Stock

Labor Economics: General



Metals and Metal Products

Cement

Glass

Ceramics

Price Level

Inflation

Deflation

Currency

Foreign exchange

Public finance & taxation

Labour

income economics

Investment & securities

Public investment and public-private partnerships (PPP)

Labor

Silver

Price adjustments

Public-private sector cooperation

Labor economics

Prices

United States

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Bibliographic Level Mode of Issuance: Monograph

Nota di bibliografia

Includes bibliographical references.

Sommario/riassunto

The 2005 International Comparison Program's (ICP) estimates of economy-wide purchasing power parity (PPP) are based on parity estimates for 155 basic expenditure headings, mainly estimated using country product dummy (CPD) regressions. The estimates are potentially inefficient and open to omitted variable bias for two reasons. First, they use average prices across outlets as the left-hand-side variable. Second, quality-adjusted prices of non-comparable replacements, required when products in outlets do not match the required specifications, cannot be effectively included. This paper provides an analytical framework based on panel data and hedonic CPD regressions for ameliorating these sources of bias and inefficiency.