The Next Generation of the Penn World Table

• 成果类型: Article
• 署名作者: Feenstra, Robert C.; Inklaar, Robert; Timmer, Marcel P.
• 署名单位: University of California System; University of California Davis; National Bureau of Economic Research; University of Groningen
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20130954
• 发表日期: 2015
• 页码: 3150-3182
• 关键词: real GDP; output; TRADE; PRODUCTIVITY; terms; revisions; prices; income; input; gains

摘要

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.