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The Next Generation of the Penn World Table
Open accessAbstract
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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Metadata
- Authors
- Feenstra, R. C., Inklaar, R., & Timmer, M. P.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2015-10-01
- Volume
- 105
- Issue
- 10
- Pages
- 3150-3182
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2161041152
- Cited by
- 4,799
- References
- 1
- FWCI
- 753.61
- Type
- journal article
- Language
- en
- Open access
- green
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