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Date: 2024-09-18 Page is: DBtxt001.php txt00021593

ECONOMICS
THE PENN WORLD TABLE
The Next Generation of the Penn World Table

Open PDF: PWT 8.0 ... The-Next-Generation-of-the-Penn-World-Table-2015

Original material: https://www.rug.nl/ggdc/productivity/pwt/

Burgess COMMENTARY

Peter Burgess

The Next Generation of the Penn World Table

By Robert C. Feenstra, Robert Inklaar, and Marcel P. Timmer*

ABSTRACT

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.
(JEL C43, C82, E01, E23, I31, O47)

The text being discussed is available at

and

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