New price adjustments reshape the world, yet again

Angus Deaton, Bettina Aten, 16 July 2014

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When the international comparison project (ICP) published its latest estimates of purchasing power parity (PPP) exchange rates in April (World Bank 2014), there was considerable surprise and some consternation. Poor countries became richer overnight, at least relative to the rich countries; expressed in US dollars, world average GDP increased.

Topics: Development, Exchange rates
Tags: exchange rates, PPP, World Bank

A better indicator for standard of living: The Gross National Disposable Income

Clara Capelli, Gianni Vaggi, 6 March 2014

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Traditionally, the Gross Domestic Product is the most widely accepted indicator of an economy’s size and performance, although in the last decades many contributions have suggested to adopt alternative tools to measure people’s wellbeing (see Stiglitz, Sen, and Fitoussi 2008).

Topics: Development
Tags: GNDI, GNI, PPP, Remittances

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