scholarly journals Measuring GDP and Economic Growth: An Economic Barometer

2019 ◽  
Vol 2 (1) ◽  
pp. 42-58
Author(s):  
Alpa Tarun Mohanty
Keyword(s):  
Purchasing Power Parity ◽  
Market Value ◽  
Living Standards ◽  
Power Parity ◽  
Cost Of Living ◽  
Goods And Services ◽  
Inflation Rates ◽  
Per Capita ◽  
The Cost ◽  
8Th Edition

This essay based on Michaele Parkin, Macroeconomics, 8th edition. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

scholarly journals Gross Domestic Product & it’s Various Approaches

2018 ◽  
Vol 1 (2) ◽  
pp. 70-85
Author(s):  
Satish Chandra Agarwal
Keyword(s):  
Gross Domestic Product ◽  
Purchasing Power Parity ◽  
Market Value ◽  
Living Standards ◽  
Domestic Product ◽  
Power Parity ◽  
Goods And Services ◽  
Inflation Rates ◽  
Per Capita ◽  
The Cost

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

Learning from the Past: A Fifty-year Perspective on Pakistan’s Development (Distinguishedl Lecture)

1997 ◽  
Vol 36 (4I) ◽  
pp. 355-402 ◽  
Author(s):  
Parvez Hasan
Keyword(s):  
Purchasing Power Parity ◽  
Capita Income ◽  
Living Standards ◽  
Per Capita Income ◽  
Power Parity ◽  
Average Income ◽  
The Past ◽  
Short Period ◽  
Economic Ground ◽  
Per Capita

In some ways, Pakistan’s economic growth since 1947 has been remarkable. The country’s economic viability was considered, in some quarters,1 in serious doubt at its emergence, but it has managed, despite a quadrupling of the population, to bring about significant improvement in the average living standards. Per capita GNP growth, on average around 2 percent per annum over a long stretch of nearly fifty years, has been the best among countries of the subcontinent. This growth has meant an increase in average income of about 150 percent over 1950–96. But Pakistan, like many other developing countries, has not been able to narrow the gap between itself and rich industrial nations which have grown faster on a per head basis. Also, Pakistan has lost substantial economic ground to the rapidly growing economies of East Asia notably China, South Korea, Thailand, Malaysia and Indonesia. In 1960, South Korea’s per capita income was only marginally ahead of Pakistan’s. In the short period of one generation, Korea had an income level which on purchasing power parity basis five times that of Pakistan in 1995. On the same basis, Thailand and Malaysia enjoyed a per capita income advantage of 200 to 300 percent over Pakistan (Table 2).

scholarly journals Comparing Costs of Living across World Cities

2019 ◽  
Vol 34 (Supplement_1) ◽  
pp. S79-S88
Author(s):  
Shohei Nakamura ◽  
Rawaa Harati ◽  
Somik V Lall ◽  
Yuri M Dikhanov ◽  
Nada Hamadeh ◽  
...  
Keyword(s):  
Low Income ◽  
Purchasing Power Parity ◽  
National Level ◽  
Low Income Countries ◽  
Power Parity ◽  
Cost Of Living ◽  
World Cities ◽  
Price Data ◽  
Price Levels ◽  
The Cost

Abstract This paper compares costs of living across world cities. The International Comparison Program (ICP) reports price levels across world economies in its calculation of purchasing power parity through an extensive scale of price data collection and rigorous methodology. While the price levels are reported only at the national level, some modification makes it possible to compare the cost of living across a group of world cities. In addition, various agencies report costs of living rankings for world cities on a regular basis, and some of them, such as the Economist Intelligence Unit (EIU)’s World Cost of Living Survey, systematically collect a wide variety of items from a host of cities, even covering low-income countries. This article's application of the ICP method to the EIU price data yields an overall reasonable result: richer cities have higher price levels, and the rankings of cities based on their price levels are similar when using the ICP and EIU data. Nevertheless, the results based on the EIU data differ from the ICP data relatively widely in some nonfood items and among cities with low price levels. This result highlights important issues regarding the data and methodology required to measure costs of living for development purposes.

Wage disparities between high and low wage cities with and without the cost of living within Punjab and Sindh: An application of Oaxaca-Blinder using PSLM with HIES

2020 ◽  
Vol 4 (4) ◽  
pp. 1-14
Author(s):  
Farrukh Mahmood ◽  
Shumaila Hashim ◽  
Uzma Iram ◽  
Muhammad Zubair Chishti
Keyword(s):  
Estimation Method ◽  
Living Standards ◽  
Wage Dispersion ◽  
Cost Of Living ◽  
Wage Policy ◽  
Essential Component ◽  
Sindh Province ◽  
Economic Survey ◽  
The Cost ◽  
Wage Disparities

Wage disparities research hardly incorporate for the cost of living differences due to data restriction, while the wage disparity issue is the crucial area of economist interest. The study aims to examine the wage disparities between high and low wage cities for Punjab and Sindh province of Pakistan with and without the cost of living, deploying the data of Pakistan Social and Living Standards Measurement Survey (PSLM) with Household Integrated Economic Survey (HIES) for 2005, 2007, 2010, and 2013. Applying the Oaxaca-Blinder estimation method, the findings infer that wage dispersion is high without the cost of living model for both provinces (Punjab and Sindh) as compared to with cost of the living model. Moreover, the results reveal that the wage dispersion is greater in Punjab province than Sindh province. For policymakers, our study suggests that the cost of living is an essential component of the wage dispersion in Pakistan’s cities; it should be considered while formulating for wage policy.

A new index to measure cost of living for expatriates in cities

2018 ◽  
Vol 28 (3) ◽  
pp. 295-317
Author(s):  
Khee Giap Tan ◽  
Nguyen Trieu Duong Luu ◽  
Le Phuong Anh Nguyen
Keyword(s):  
New York ◽  
Hong Kong ◽  
Quality Data ◽  
Cost Of Living ◽  
Content Type ◽  
Goods And Services ◽  
Commercial Research ◽  
The Cost ◽  
Cost Of Living Index ◽  
The City

Purpose Cost of living is an important consideration for the decision-making of expatriates and investment decisions of businesses. As competition between cities for talent and capital becomes global instead of national, the need for timely and internationally comparable information on global cities’ cost of living increases. While commercial research houses frequently publish cost of living surveys, these reports can be lacking in terms of scientific rigour. In this context, this paper aims to contribute to the literature by formulating a comprehensive and rigorous methodology to compare the cost of living for expatriates in 103 world’s major cities. Design/methodology/approach A cost of living index for expatriates composed of the ten consumption categories is constructed. The results from the study covers a study period from 2005 to 2014 in 103 cities. More than 280 individual prices of 165 goods and services have been compiled for each city in the calculation of the cost of living index for expatriates. New York has been chosen as the base city for the study, with other cities being benchmarked against it. A larger cost of living index for expatriates implies that the city is more expensive for expatriates to live in and vice versa. Findings While the authors generate the cost of living rankings for expatriates for 103 cities worldwide, in this paper, the authors focus on five key cities, namely, London, Hong Kong, Singapore, Tokyo and Zurich, as they are global financial centres. In 2013, the latest year for which data are available, Zurich was the most expensive for expatriates among the five cities, followed by Singapore, Tokyo, London and Hong Kong. These results pertain to the cost of living for expatriates, and cities compare very differently in terms of cost of living for ordinary residents, as ordinary residents follow different consumption patterns from expatriates. Originality/value Cost of living in the destination city is a major consideration for professionals who look to relocate, and organisations factor such calculations in their decisions to post employees overseas and design commensurate compensation packages. This paper develops a comprehensive and rigorous methodology for measuring and comparing cost of living for expatriates around the world. The value-addition lies in the fact that the authors are able to differentiate between expatriates and ordinary residents, which has not been done in the existing literature. They use higher quality data and generate an index that is not sensitive to the choice of base city.

scholarly journals Food Affordability and Economic Growth

TEM Journal ◽  
2020 ◽  
pp. 1571-1579
Author(s):  
Ruslan Mudrak ◽  
Volodymyr Lagodiienko ◽  
Nataliia Lagodiienko ◽  
Vitalii Rybchak
Keyword(s):  
Purchasing Power Parity ◽  
Functional Characteristic ◽  
Alcoholic Beverages ◽  
Power Parity ◽  
Per Capita Gdp ◽  
Food Expenditures ◽  
Per Capita ◽  
Food Affordability ◽  
Constant Prices

The conducted correlation-andregression analysis revealed a close inverse connection between the functional characteristic "share of the expenditures for food and non-alcoholic beverages in the structure of the total expenditures of the households" and the factorial characteristic "GDP per capita by purchasing power parity, at constant prices". The response of the share of food expenditures in the structure of the total expenditures of the households to per capita GDP growth corresponds to the law of diminishing returns. The pattern is manifested in the long-term period.

The effects of the economic crisis on income convergence in the European Union

2012 ◽  
Vol 62 (2) ◽  
pp. 161-182 ◽  
Author(s):  
Nenad Stanišić
Keyword(s):  
European Union ◽  
Economic Crisis ◽  
Purchasing Power Parity ◽  
Gdp Per Capita ◽  
The European Union ◽  
Income Convergence ◽  
Power Parity ◽  
Trade Theory ◽  
Per Capita

This paper evaluates income convergence in the European Union, between “old” (EU15) and “new” member states from Central and East Europe (CEE10), and among the countries within these two groups. The GDP per capita convergence should be expected according to the exogenous economic growth model and neoclassical trade theory. The presence of σ-convergence and both absolute and conditional β-convergence is tested for on a sample of 25 European Union countries (EU25). Results confirm the existence of β-convergence of GDP per capita at purchasing power parity among EU25, but not among EU15 and CEE10 countries. σ-convergence has been confirmed among EU25 and CEE10 countries, while GDP per capita has been diverging in the EU15 group of countries. Moreover, the results reveal that recent economic crisis has reversed long-term tendencies and led to income convergence within EU15 and divergence within CEE10. During the crisis, the income differences among the EU25 countries have increased, but the scope and duration of this effect has been limited and has not affected the long term convergence path. However, the obtained long term speed of convergence is significantly lower compared with the previous researches.

Abstract 3225: Gross Domestic Product and Health Expenditure Associated with Incidence, 30-Day Fatality and Age at Stroke Onset: A Systematic Review

Stroke ◽  
2012 ◽  
Vol 43 (suppl_1) ◽  
Author(s):  
Luciano Sposato ◽  
Gustavo Saposnik
Keyword(s):  
Socioeconomic Status ◽  
Gross Domestic Product ◽  
Purchasing Power Parity ◽  
Case Fatality ◽  
Population Based ◽  
Stroke Onset ◽  
Power Parity ◽  
Day Case ◽  
Scatter Plots ◽  
Per Capita

Background: Differences in definitions of socioeconomic status (SES) and between study designs hinder their comparability across countries. We aimed to analyze the correlation of three widely used macro-SES indicators with stroke incidence and age at stroke onset. Methods: We selected population-based studies reporting incident stroke risk and/or 30-day case fatality according to pre-specified criteria. We used three macro-SES indicators that are consistently defined by international agencies: per capita gross domestic product adjusted for purchasing power parity (PPP-aGDP), total health expenditures per capita at purchasing power parity (PPP-aTHE) and unemployment rate. We used two-tailed Spearman’s test and scatter-plots for analyzing the correlation of each macro-SES indicator with incident risk of stroke, 30-day case fatality rates, proportion of hemorrhagic strokes and age at stroke onset. Results: Twenty-three manuscripts comprising 30 population-based studies fulfilled the eligibility criteria. Age-adjusted incident risk of stroke using standardized World Health Organization World population, 30-day case fatality rates, proportion of hemorrhagic strokes and age at stroke onset were associated to lower PPP-aGDP and PPP-aTHE ( Table 1 and Figures 2 and 3). There was no correlation between unemployment rates and outcome measures. Table 1. Correlation Analyses of Macro-Indicators of Socioeconomic Status Figures 1. Scatter Plots for PPP-aGDP Figures 2. Scatter Plots for PPP-aTHE Conclusions: Lower PPP-aGDP and PPP-aTHE were associated with higher incident risk of stroke, higher case fatality, greater proportion of hemorrhagic strokes and lower age at stroke onset. As a result, these macro-SES indicators may be used as proxy measures of quality of primary prevention and acute care and considered as important factors for developing strategies aimed at improving worldwide stroke care.

scholarly journals Financial Impact of Complex Cancer Surgery in India: A Study of Pancreatic Cancer

2018 ◽  
pp. 1-9
Author(s):  
Guruchanna Basavaiah ◽  
Priyanka D. Rent ◽  
Eugene G. Rent ◽  
Richard Sullivan ◽  
Margaret Towne ◽  
...  
Keyword(s):  
Purchasing Power Parity ◽  
Insurance Coverage ◽  
Government Expenditure ◽  
Time Frame ◽  
Cancer Surgery ◽  
Cancer Center ◽  
Power Parity ◽  
Catastrophic Expenditure ◽  
Public And Private ◽  
The Cost

Purpose The rapidly increasing burden of cancer in India has profound impacts on health care costs for patients and their families. High out-of-pocket (OOP) expenditure, lack of insurance, and low government expenditure create a vicious cycle, leading to household impoverishment. Complex cancer surgery is now increasingly important for emerging countries; however, little is understood about the macro- and microeconomics of these procedures. After the Lancet Oncology Commission on Global Cancer Surgery, we evaluated the OOP expenditure for patients undergoing pancreatico-duodenectomy (PD) at a government tertiary cancer center in India. Methods Prospective data from 98 patients who underwent PD between January 2014 and June 2015 were collected and analyzed. The time frame for consideration of expenses, including all preoperative investigations, was from the first hospital visit to the day of discharge. Catastrophic expenditure was calculated by assessing the percentage of households in which OOP health payments exceeded 10% of the total household income. Results The mean expenditure for PD by patients was Rs.295,679.57 (US$74,420, purchasing power parity corrected). This amount was significantly higher among those admitted to a private ward and those with complications. Only 29.6% of the patients had insurance coverage. A total of 76.5% of the sample incurred catastrophic expenditure, and 38% of those with insurance underwent financial catastrophe compared with 93% of those without insurance. The percentage of patients facing catastrophic impact was highest among those in semiprivate wards, at 86.7%, followed by those in public and private wards. Conclusion The cost of PD is high and is often unaffordable for a majority of India’s population. A review of insurance coverage policies for better coverage must be considered.

Sensitivity of Purchasing Power Parity Estimates to Estimation Procedures and their Effect on Living Standards Comparisons

2017 ◽  
Vol 8 (1) ◽  
Author(s):  
Amita Majumder ◽  
Ranjan Ray ◽  
Sattwik Santra
Keyword(s):  
Purchasing Power Parity ◽  
Living Standards ◽  
Purchasing Power ◽  
Power Parity ◽  
Empirical Comparison ◽  
Entire Country ◽  
Estimation Procedures ◽  
The Rich ◽  
Cost Of Living Index ◽  
Purchasing Power Parities

AbstractThe motivation of this exercise is to compare the Purchasing Power Parities (PPPs) calculated using different procedures and study the sensitivity of global rankings of regions based on living standards to the PPPs used. The empirical comparison involves the GEKS, weighted CPD, GK, EWGK and the True Cost of Living Index (TCLI) based PPP estimation procedures with the Indian Rupee used as the numeraire currency. The published ICP PPPs for 2011 are used as benchmark for the non ICP PPPs obtained in this study. Evidence confirming the “Gershenkeron effect,” that affects the additive GK procedure, is provided. The results suggest that the EWGK PPPs, which are also additive, do not suffer from the extent of bias of the GK PPPs. The paper also provides evidence on the large variation in the TCLI based PPPs across expenditure quintiles originating from variation in preferences between expenditure classes. This suggests departure from the current ICP practice of providing one PPP for the entire country and points to the need to estimate PPPs by different expenditure classes. The empirical evidence points to the rich potential for the rarely used TCLI in future PPP calculations.

Sign in / Sign up

Export Citation Format

Share Document