Purchasing Power Parities

Aggregation of price relativities to basic heading level: review and comparison

Cuthbert, J.R. :invited paper, proceedings of International Statistical Institute 51st Session, Istanbul (1997)

Technical paper examining comparative properties of some of the techniques, (EKS and CPD), used in aggregating purchasing power parities at the lowest level.

Categorisation of additive purchasing power parities
Cuthbert, J.R.: Review of Income and Wealth, series 45, no.2, (1999).

The paper answers, in the negative, a long standing question as to whether the Geary-Khamis method was the only strongly additive aggregation method for PPPs: and defines a new class of strongly additive Generalised Geary Khamis methods.
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Theoretical and practical issues in purchasing power parities, illustrated with reference to the 1993 Organisation for Economic Co-operation and Development data

Cuthbert, J.R.: Journal of Royal Statistical Society, Series A, 163, (2000).

Provides a comparative analysis of the results of applying 13 different PPP aggregation methods to the 1993 OECD data set, relating the comparative properties of the different methods to underlying features of the data set, as revealed by certain proposed indicators of price and quantity structure.

Using Price and Quantity Indicators to Explore Data Structure

Cuthbert, J.R.: World Bank/OECD Seminar on Recent Advances in Purchasing Power Parities: Washington, (2001).

Extension of some of the techniques developed in the previous paper.
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On the variance/covariance structure of the Log Fisher Index and implications for aggregation techniques

Cuthbert, J.R.:  Review of Income and Wealth, series 49, no. 1, (March 2003).
Derives estimates of the variance covariance structure of the logarithms of bilateral Fisher indices in the presence of measurement error, and uses these estimates to show that the standard EKS technique is likely to be near optimal under commonly occurring circumstances.

Comparative Properties of Additive Purchasing Power Parities

Cuthbert, J.R.:invited paper at Colloquium on Purchasing Power Parities, Taiwan, (September 2003).

Further extension of work on comparative properties of additive PPP indices.
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See also accompanying charts: ( apart from two of the charts, which are hand drawn, which are available here and here.)


Implicit Data Structures, and Properties of Selected Additive Indices

Cuthbert, J.R.: Chapter 7 in the book "Purchasing Power Parities of Currencies: Recent Advances in Methods and Applications", edited by Professor Prasada Rao, published by Edward Elgar, September 2009.

This chapter analyses the comparative properties of a number of additive aggregation methods, and relates these to underlying properties of the data. Draws upon above papers presented at Washington and in Taiwan.


The Mismanagement of Britain: A Record of the UKs Declining Competitiveness, and Why it Matters

Cuthbert, J.R.: report published by the Jimmy Reid Foundation, 15th April 2013.

This paper examines data on international competitiveness, and on the UKs balance of payments. It shows how the UK has suffered a long running decline in overall competitiveness against other advanced economies, which is reflected in a chronic deterioration in its balance of trade in goods and services. The effects of this have been masked, first, by North Sea oil revenues, and latterly, by the expansion of the financial sector. The result is a UK economy which is now unstable. Finally, the paper examines the implications for the forthcoming Scottish referendum.

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