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PPP Converted GDP Laspeyres per Person Engaged from the Penn World Table 7.0 database shown in 2005 International dollar per person engaged Date Type: Year; Country: Greece 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
Real gross domestic product (GDP) per person engaged (Laspeyres2) as presented here is derived from the growth rate of domestic absorption (DA) applied to the reference year DA to derive real DA in each year, plus the net foreign balance, multiplied by population, and divided by number of persons engaged in work. Per person engaged is defined in the Penn World Table (PWT) to include all persons aged 15 years and over, who during the reference week performed work, even just for one hour a week, or were not at work but had a job or business from which they were temporarily absent. DA is the sum of private consumption, general government consumption, and gross domestic investment. It will differ from national growth rates of GDP only by the difference between the value of the net foreign balance relative to GDP in national prices and the prices used in the PWT. The reference year shares of consumption, investment, and government spending will not play a role in the way they do for PPP converted GDP per capita (Laspeyres) derived from growth rates of consumption, investment, and government spending. Real GDP in the PWT means GDP converted to international dollars using purchasing power parity (PPP) rates. (An international dollar has the same purchasing power over GDP as a US dollar has in the United States 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 7.0, was prepared by Heston, Summers, and Bettina Akens, and was released in June 2011. V7.0 provides purchasing power parity and national income accounts converted to international prices for 189 countries and territories, 1950-2009, with 2005 as reference year. Major differences with 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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