Actions for Purchasing Power Parity (PPP) over GDP from the Penn World Table 7.1 database shown in Local Currency Units per U.S. Dollar Date Type: Year; Country: Vanuatu Sage Data. Sage Publishing Ltd Sage Data [electronic resource]

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Purchasing Power Parity (PPP) over GDP from the Penn World Table 7.1 database shown in Local Currency Units per U.S. Dollar Date Type: Year; Country: Vanuatu Sage Data. Sage Publishing Ltd Sage Data [electronic resource]

Corporate Author
Center for International Comparisons of Production, Income and Prices
Published
Thousand Oaks, CA : Sage Publications, Inc. 2025
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Summary
Purchasing power parity (PPP) is the number of currency units required to buy goods equivalent to what can be bought with one unit of the base country. Values for PPP in the Penn World Table (PWT) are calculated as PPP over Gross Domestic Product (GDP), ie, PPP is the national currency value of GDP divided by the real value of GDP in international dollars. (An international dollar has the same purchasing power over total GDP of the United States as the US dollar in a given base year, here 2005.) The Penn World Table (PWT) displays a set of national accounts economic time series covering many countries. Its expenditure entries are denominated in a common set of prices in a common currency so that real quantity comparisons can be made, both between countries and over time. It also provides information about relative prices within and between countries, as well as demographic data and capital stock estimates. Since the regionalization of the United Nations International Comparison Programme (ICP) beginning with the 1980 benchmark, Robert Summers and Alan Heston at the Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania have been using ICP benchmark comparisons as a basis for estimating PPPs (purchasing power parities) for non-benchmark countries and extrapolations backward and forward in time. The Penn World Tables are described in Summers and Heston "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988" (Quarterly Journal of Economics, May 1991, 327-368). The current version of Penn World Tables, PWT 7.1, was prepared by Heston, Summers, and Bettina Akens, and was released in June 2011. V7.1 provides purchasing power parity and national income accounts converted to international prices for 189 countries and territories, 1950-2010, with 2005 as reference year. Major differences between PWT 7.0-7.1 and prior versions include use of the World Bank International Comparison Program data, the 146-country benchmark ICP detailed price comparisons. Other changes include (1) use of actual household consumption vs household consumption expenditures; also, government expenditures on education and health are included in actual but not household consumption, meaning that government expenditures are current expenditures on collective consumption; and (2) domestic Absorption and Gross Domestic Product is provided in each year as one measure. Estimates for non-benchmark countries are derived in a way similar to earlier versions.
Subject(s)
ISBN
9781544332048 Sage Data CORE
Type of File/Data
Statistical data with bibliographic citation and abstract.
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