Publication

The Next Generation of the Penn World Table

Feenstra, R. C., Inklaar, R. & Timmer, M. P., 2-Oct-2015, In : American Economic Review. 105, 10, p. 3150-3182 33 p.

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DOI

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.
Original languageEnglish
Pages (from-to)3150-3182
Number of pages33
JournalAmerican Economic Review
Volume105
Issue number10
Early online date29-Apr-2015
Publication statusPublished - 2-Oct-2015

    Keywords

  • INTERNATIONAL COMPARISONS, INDEX NUMBERS, PRICE LEVELS, REAL GDP, TRADE, PRODUCTIVITY, COUNTRIES, OUTPUT, QUALITY, TERMS
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  1. The Next Generation of the Penn World Table

    Feenstra, R. C., Inklaar, R. & Timmer, M., 2-Jul-2013, NBER, (NBER Working Paper).

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  1. Penn World Table 9.0

    Feenstra, R. C. (Creator), Inklaar, R. (Creator), Timmer, M. (Creator), Groningen Growth and Development Centre, 9-Jun-2016

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  2. Penn World Table 8.1

    Feenstra, R. C. (Creator), Inklaar, R. (Creator), Timmer, M. (Creator), Groningen Growth and Development Centre, 13-Apr-2015

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