New Penn World 8.0 Purchasing power parity

The Penn World Purchasing Power Parity GDP tables are out for version 8.0.

They have improved the internet interface to the data.
They have different GDP measures. By some measures China should have passed the USA in PPP in 2012.

They provide a lot of new cross-country data (on capital stock, factor shares, etc.), For the first time, there are separate output- and expenditure-based estimates of GDP (previous versions contained only the latter).

GDP estimates for 2005 are based on actual (and detailed) cross-country prices collected in the International Comparison of Prices (ICP, 2005) project. Estimates beyond 2005 (for non-Organization for Economic Cooperation and Development countries) are extrapolated according to procedures that are still not robust.

The new International Comparison of Prices (ICP, 2011) will be available from the World Bank in December of this year.

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