Is newer better? Penn World Table Revisions and their impact on growth estimates

Journal of Monetary Economics

Volumn 60, Issue 2, 2013, Pages 255-274

  Johnson, Simon ^a,b   Larson, William ^c   Papageorgiou, Chris ^d   Subramanian, Arvind ^e,f  

^a MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c GEORGE WASHINGTON UNIVERSITY   (United States)

^d INTERNATIONAL MONETARY FUND   (United States)

^e PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS   (United States)

^f JOHNS HOPKINS UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84875611644     PISSN: 03043932     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jmoneco.2012.10.022     Document Type: Article

References (42)

1. Acemoglu Daron, Johnson Simon, Robinson James, Thaicharoen Yunyong Institutional causes, macroeconomic symptoms. volatility, crises and growth. Journal of Monetary Economics 2003, 50:49-123.
2. Aghion Philippe, Howitt Peter, Mayer-Foulkes David The effect of financial development on convergence. theory and evidence. Quarterly Journal of Economics 2005, 120:173-222.
3. Almas, Ingvild. International income inequality: measuring PPP bias by estimating Engel curves for food. American Economic Review, forthcoming. 102, 1093-1117.
4. Barro Robert J. Determinants of democracy. Journal of Political Economy 1999, 107:S158-S183.
5. Burnside Craig, Dollar David Aid, policies, and growth. American Economic Review 2000, 90:847-868.
6. Ciccone, Antonio, Jarocinski, Marek, 2008. Determinants of economic growth: will data tell? European Central Bank Working Paper 852. European Central Bank, Frankfurt.
7. Dawson John W., DeJuan Joseph P., Seater John J., Frank Stephenson E. Economic information versus quality variation in cross-country data. Canadian Journal of Economics 2001, 34:988-1009.
8. Deaton, Angus, 2006. Purchasing power parity exchange rates for the poor: using household surveys to construct PPPs. In: Princeton University Research Program in Developing Studies Working Paper, Princeton University, Princeton, NJ.
9. Deaton Angus Price indexes, inequality, and the measurement of world poverty. American Economic Review 2010, 100:5-34.
10. Deaton Angus, Heston Alan Understanding PPPs and PPP-based national accounts. American Economic Journal-Macroeconomics 2010, 2:1-35.
11. De Long J.Bradford, Summers Lawrence H. Equipment investment and economic growth. Quarterly Journal of Economics 1991, 106:445-502.
12. Demirguc-Kunt Asli, Laeven Luc, Levine Ross Market structure, institutions, and the cost of financial intermediation. Journal of Money Credit and Banking 2004, 36:593-622.
13. Dowrick Steve The Penn World Table. a review. Australian Economic Review 2005, 38:223-228.
14. Dowrick Steve, Quiggin John True measures of GDP and convergence. American Economic Review 1997, 87:41-64.
15. Easterly William, Michael Kremer Lant Pritchett, Summers Lawrence H. Good policy or good luck?. country growth performance and temporary shocks. Journal of Monetary Economics 1993, 32:459-483.
16. Feenstra Robert, Heston Alan, Timmer Marcel P., Deng Haiyan Estimating real production and expenditures across nations. a proposal for improving the Penn World Tables. Review of Economics and Statistics 2009, 91:201-212.
17. Feenstra, Robert, Hong Ma, Prasada Rao, D.S., 2009. Consistent Comparisons of Real Incomes Across Space and Time. UC Davis Department of Economics working paper, UC Davis, Davis, CA.
18. Handbook of the International Comparison Program 〈〉. http://unstats.un.org/unsd/methods/icp/ipc6-htm.
19. Hausmann Ricardo, Pritchett Lant, Rodrik Dani Growth accelerations. Journal of Economic Growth 2005, 10:303-329.
20. Henderson, J. Vernon, Adam Storeygard, David N. Weil, 2009. Measuring Economic Growth from Outer Space. NBER Working Papers No. 15199. National Bureau of Economic Research, Cambridge, MA.
21. Heston Alan National accounts. a brief review of some problems in using national accounts data in level of output comparisons and growth studies. Journal of Development Economics 1994, 44:29-52.
22. Heston, Alan. 2001. Treatment of China in PWT 6. University of Pennsylvania 〈〉. http://www.pwt.econ.upenn.edu/Documentation/China.pdf.
23. IMF (International Monetary Fund), 2008. World Economic Outlook. Washington.
24. Jones Ben, Olken Benjamin Do leaders matter? National leadership and growth since world war II. Quarterly Journal of Economics 2005, 120:835-864.
25. Katayama Hajime, Ponomareva Natalia Does the version of the Penn World Tables matter? An analysis of the relationship between growth and volatility. Canadian Journal of Economics 2010, 43:152-179.
26. Kravis Irving B., Heston Alan, Summers Robert Real GDP per capita for more than one hundred countries. Economic Journal 1978, 88:215-242.
27. Mankiw N.Gregory, Romer David, Weil David N. A contribution to the empirics of economic growth. Quarterly Journal of Economics 1992, 107:407-437.
28. Miguel Edward, Satyanath Shanker, Sergenti Ernest Economic shocks and civil conflict. an instrumental variables approach. Journal of Political Economy 2004, 112:725-753.
29. Neary J.Peter Rationalizing the Penn world table. true multilateral indices for international comparisons of real income. American Economic Review 2004, 94:1411-1428.
30. Nuxoll Daniel A. Differences in relative prices and international differences in growth rates. American Economic Review 1994, 84:1423-1436.
31. Ramey Garey, Ramey Valerie A. Cross-country evidence on the link between volatility and growth. American Economic Review 1995, 85:1138-1151.
32. Rao, Prasada D.S., Alicia N. Rambaldi, Howard E. Doran, 2009. An Econometric Approach to Construct World Tables of Purchasing Power Parities and Real Incomes: Analytical Properties and Tables for 1970-2005. Working Paper, University of Queensland.
33. Rao Prasada D.S., Selvanathan E.A. Computation of standard errors for Geary-Khamis parities and international prices. a stochastic approach. Journal of Business and Economics Statistics 1992, 10:109-115.
34. Sachs Jeffrey D., Warner Andrew M. Economic reform and the process of global integration. Brookings Papers on Economic Activity 1995, 1995:1-118.
35. Samuelson Paul A. Facets of Balassa-Samuelson thirty years later. Review of International Economics 1994, 3:201-226.
36. Srinivasan T.N. Data base for development analysis. an overview. Journal of Development Economics 1994, 44:3-27.
37. Summers Robert, Heston Alan A new set of international comparisons of real product and price levels estimates for 130 countries, 1950-1985. Review of Income and Wealth 1980, 26:19-66.
38. Summers Robert, Heston Alan Improved international comparisons of real product and its composition, 1950-1980. Review of Income and Wealth 1984, 30:207-261.
39. Summers Robert, Heston Alan The Penn world table (mark 5). an expanded set of international comparisons, 1950-1988. Quarterly Journal of Economics 1991, 106:327-368.
40. Summers Robert, Heston Alan International price and quantity comparisons. potentials and pitfalls. American Economic Review 1996, 86:20-24.
41. van Veelen Matthijs An impossibility theorem concerning multilateral international comparisons of volumes. Econometrica 2002, 70:369-375.
42. Young, Alwyn. 2009. Real Consumption Measures for the Poorer Regions of the World. London School of Economics working paper. London School of Economics, London.