Expanded Measures of Price and Quantity Structures Over Space and Time

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The main focus of this project is to provide an updated, revised and expanded Penn World Table (PWT) data set of economic aggregates that is consistent across time and space for over 150 countries for the whole post World War II period, known as Penn World Table. This continuing effort is built upon the framework of the detailed benchmark purchasing power parity studies organized on a regional basis through the United Nations. To prepare this large Table , it is necessary to combine the regional benchmarks for the latest benchmark year, 1993, into a world comparison for the 100 odd countries that are expected to participate. The results of previous world comparisons will then be integrated with the 1993 benchmark to provide the base for estimating values for non-benchmark countries, and the base for moving estimates of all countries backward and forward in time. This project also includes the addition of some variables in PWT proper, as well as the inclusion of subsidiary price and expenditure from the benchmark comparisons that researchers will be more readily accessible by. Software will be provided with the benchmark data that will help researchers make comparisons between any pair of benchmark countries that may be of interest. It is also planned to develop a spatial measure of consumption and add it to the PWT data set. This spatial consumption measure will also be designed on an experimental basis to provide interarea comparisons within a few large and geographically diverse countries. The wide use of these data,, the extensive country participation in the benchmark studies, and the continued focus on international income comparisons in conferences and journals demonstrate the importance of the PWT to the research community.