Repositorio Institucional Universidad EAFIT :: Examinando por Materia "Price Indices"

Mostrando 1 - 2 de 2

ICP 2005 Construction Prices: Underestimated in Developing Countries?
(Universidad EAFIT, 2013-04-10) Breton, Theodore R.; García, John J.
Construction prices in developing countries in ICP 2005 are lower relative to prices in developed countries than in earlier versions of the ICP. Our estimates of the Colombia/U.S. ratio of prices for office buildings demonstrate that the ICP 2005 price ratio for these countries is substantially underestimated. We confirm the validity of our results by comparing construction component prices in these countries. Since the ICP 2005 estimate of the Colombia/U.S. price ratio is representative of its ratio of construction prices between all developing and developed countries, we suspect there is a problem with the ICP 2005 estimation methodology.
Penn world table 7.0: are the data flawed?
(Universidad EAFIT, 2012-05-08) Breton, Theodore R.
Penn World Table (PWT) 7.0 is the newest PWT data set, based in part on benchmarked prices collected in 2005. In theory the data in PWT 7.0 should be more accurate than the data in PWT 6.3 since 1996 and similar in earlier years. I show that PWT 7.0 GDP/capita and price data for 1970 to 1996 deviate substantially from prior PWT data that are benchmarked to prices across countries for those years. I conclude that overall the PWT 7.0 data are much less accurate than the data in PWT 6.2 and 6.3.