Measuring The Real Size Of The World Economy

"This work is a product of the staff of The World Bank with external contributions"--T.p. verso.

This volume provides a comprehensive review of the statistical theory and methods underlying the estimation of purchasing power parities (PPPs) and real expenditures, the choices made for the 2005 International Comparison Program (ICP) round, and the lessons learned that led to improvements in the 2011 ICP.

The 2011 International Comparison Programme (ICP) is a worldwide statistical initiative that aims to estimate Purchasing Power Parities (PPPs) to be used as currency converters to compare the size and price levels of economies around the world -- crucial information for research in comparative analysis and policy making.

This highly readable and authoritative book on the social economics of job quality comes at a critical time as policy-makers, employers and unions seek to rebuild jobs after the economic crisis. The team of authors are leading experts on European employment trends and policy and have produced an excellent study that proposes a new index of job quality for Europe. Given its depth and breadth of coverage of theory and already existing indicators, the book is likely to be a landmark study. Readers will enjoy the engaging review of past and present works of classical political economy and behavioural economics and will benefit from the expert critical appraisal of more than 20 existing proposals for job quality indices. Most importantly, the authors design and test a new European Job Quality Index that provides a reliable and coherent measure of five critical dimensions of the character of contemporary jobs. Measuring More than Money is a much-needed analysis that will interest both specialists and anyone concerned about job quality. The proposed indicator deserves to be adopted and will enable policy-makers to make good their commitment to sustainability and equality across Europe by monitoring and responding to a good job quality measure. Damian Grimshaw, University of Manchester, UK Is a job a job? If you looked at unemployment data, you would think so. But economists since Adam Smith know that jobs differ in quality: difficulty or pleasure of doing it. Thus they tend to assume that market would equalize wage per unit of difficulty of a job, and that they do not need to worry about intrinsic job quality. Rafael de Bustillo shows that this wrong and that in an era of plenty for many (although not for all), the challenge is to create high-quality jobs and to find ways of comparing them in terms of fulfillment afforded to workers. The book thus addresses a new and growing field of study: for it certainly matters if we are happy or unhappy in an activity that takes almost one-third of our lives and often defines who we are. Branko Milanovic, World Bank and University of Maryland, US This is a book every labour economist or sociologist interested in job quality should read. It provides a well written overview of the depth and breadth of this field, presenting a systematic review of this complex multidimensional concept and discussing more than twenty of the indicators currently in use. The volume goes beyond the current literature by developing a sound, empirically tested Job Quality Index for the European Union. It was definitely a pleasure reading this volume. Kea Tijdens, University of Amsterdam, The Netherlands Mainstream economics traditionally restricts the analysis of the labour market to purely monetary factors, such as earnings, leaving aside many other characteristics that might affect the desirability of certain jobs. By contrast, this unique volume explores the alternatives and problems faced by researchers in quantifying and measuring a broader notion of job quality. The contributors expertly explore the different approaches to measurement and analyze both the advantages and disadvantages of the various methods within a European context. Job quality is a crucial link between the economy and well-being. This original book proves that it can and should be measured, proposing a theoretically based multidimensional Index of Job Quality that is tested in the EU member States. The index proves particularly useful to measure the differences in job quality by country, occupation, gender and age. Based on solid theory and data, this book will prove essential for postgraduate students, researchers and academics of labour economics, sociology, industrial relations, and European studies as it presents a coherent discussion of the concept and components of job quality, and of the difficulties of measuring it. The book also proposes a new aggregate index of job quality that can contribute to the evaluation of European employ

In 1991 "Communism" collapsed. The cold war was over and the West had won. Whole cities, Moscow, St Petersburg, Warsaw, Beijing, Budapest and Bucharest, whole countries indeed, were privatised for nothing or next to nothing. This was probably the greatest expansion of the world market in history. And yet, according to national income measurements of the CIA, OECD, World Bank and IMF, this gigantic expansion of market production, led to a decline in market production in the very countries where it was introduced. How to explain this paradox? This book traces the origin of the West’s national income measurements, from their origin in the 1923/4 Balance developed in the USSR, to the USA in the early 1930s via two Soviet exiles, Simon Kuznets and Wassily Leontief, and then back to the USSR again, after a vigorous debate, through a protégé of Kuznets, Abram Bergson. The AFC imputed national incomes to a centrally planned economy, based on physical not income measurements. This book provides a detailed assessment of the failure of the AFC method to measure the real growth of actual market production during the transition period. This book provides a detailed account of the application of national income measurements to the centrally planned economies. It assesses all of the major contributors to this debate, including Colin Clark, Naum Jasny, Alexander Gerschenkron, G.Warren Nutter and Abram Bergson. It provides a new much higher, estimate of the expansion of market production during the transition period, based on an estimate of the actual growth of real market production. It discusses the very significant implications of this re-estimate for contemporary theories of globalisation.

Measuring Economic Growth and Productivity: Foundations, KLEMS Production Models, and Extensions presents new insights into the causes, mechanisms and results of growth in national and regional accounts. It demonstrates the versatility and usefulness of the KLEMS databases, which generate internationally comparable industry-level data on outputs, inputs and productivity. By rethinking economic development beyond existing measurements, the book's contributors align the measurement of growth and productivity to contemporary global challenges, addressing the need for measurements as well as the Gross Domestic Product. All contributors in this foundational volume are recognized experts in their fields, all inspired by the path-breaking research of Dale W. Jorgenson. Demonstrates how an approach based on sources of economic growth (KLEMS – capital, labor, energy, materials and services) can be used to analyze economic growth and productivity Includes examples covering the G7, E7, EU, Latin America, Norway, China, Taiwan, Japan, Korea, India and other South Asian countries Examines the effects of digital, information, communication and integrated technologies on national and regional economies

With over 80 indicators based on the most up-to-date official statistics, this study provides a comprehensive international comparison of OECD Member countries' performance in the information economy.

Globalisation is a timely and controversial topic. Against the chorus of globalisation’s proponents and detractors, the authors propose an approach for measuring globalisation and its consequences. Undertaking a comprehensive review of the literature on globalisation and using data from the MGI and KOF indices, the well-respected authors build a framework for defining globalisation and analyzing the relationships among economic, political, and social variables.