Consistent Space-Time Comparisons of Real Income (2005-2007)
Abstract
Over the last two decades there has been a significant increase in the use of internationally comparable economic aggregates like real per capita incomes investment government expenditure on health and education in economic analyses designed to assess the impact of globalisation on standards of living. The International Comparison Program (ICP) provides such data for a few countries for some years. The main aim of the proposed project is to construct a panel data set covering 120 countries and a 50-year period using an econometric approach based on spatial regressions and constrained state-space models. This project will make full use of all available data and the panel data generated will be consistent with the existing ICP data
