PWT 9.1: Release information
|Date:||11 July 2018|
Work on a new version of the Penn World Table (PWT) is progressing and has advanced to the point where we can provide more information on the timing and content of this new release:
- The new version will be PWT 9.1. The reference year will be 2011, like in PWT 9.0. PWT 9.1 also continues to rely on the 2011 global price comparison of the International Comparison Program (ICP).
- Our initial goal was to release PWT 9.1 in the summer of 2018. We will not meet this goal. Instead PWT 9.1 will be released in the fall of 2018. If you want to be informed of this release as it happens, please follow @PennWorldTable.
- The focus for PWT 9.1 is to extend coverage of the data from the period 1950–2014 (for PWT 9.0) to 1950–2016. This extended period will be based on new data from the UN National Accounts and incorporate more recent (regional) price comparisons for consumption and investment for countries in the (ICP regions) of Eurostat, OECD and CIS. New estimates of relative export and import prices will also be incorporated.
- The main conceptual change is to improve our measurement of capital. Starting in PWT 8.0, we have included measures of capital stocks and measures of (total factor) productivity based on capital stocks. Yet these capital stock measures do not accurately reflect the productive contribution (or service flow) of the different assets, which is the goal in productivity measurement. PWT 9.1 will continue to include capital stock measures, but we will introduce new measures of capital services – one for comparisons over time, one for comparisons across countries. PWT's productivity measures will then be based on capital services instead of stocks. As a result, productivity growth measures will (conceptually) match those published by the OECD and The Conference Board.
- The ICP is currently working on a new global price comparison for 2017, which is expected to be released by late 2019. This release will be incorporated in PWT 10.0, which we expect to be the version following 9.1. A release in the summer of 2020 is the most likely (earliest) time for the release of PWT 10.0. At that time, we will also extend our period of data coverage until 2018.