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Purchasing power

About: Purchasing power is a research topic. Over the lifetime, 2714 publications have been published within this topic receiving 36866 citations. The topic is also known as: adjusted for inflation.


Papers
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Journal ArticleDOI
TL;DR: In this article, the authors examined the economic growth prospects of China over the next two decades by extrapolating past real GDP growth rates into the future and showed that the size of the Chinese economy surpasses that of the U.S. in purchasing power terms around 2010.
Abstract: Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new economic superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms around 2010. Such extrapolations can be supported by standard growth patterns identified in economic development and trade theories (structural change, catching up, and factor price equalization). They can also be supported by an explanation of China's past GDP growth through growth of various labor variables, with a subsequent derivation of future GDP growth based on reliable information about future labor quantity and quality. China's demographic changes and economic growth have a number of implications for China and the world.

13 citations

Journal ArticleDOI
Rick Best1
TL;DR: In a report published in June 2012, the Business Council of Australia (BCA) reported that it costs considerably more to build a variety of types of infrastructure in Australia than it does in the US as mentioned in this paper.
Abstract: In a report published in June 2012 the Business Council of Australia (BCA) reported that it costs considerably more to build a variety of types of infrastructure in Australia than it does in the US. Airports (90% more costly) and hospitals (62%) were quoted as the worst cases with other projects ranging from 26% to 43% more. They used these figures to conclude that Australia is a high cost, low productivity environment for building infrastructure projects. These claims were based on cost/m2 figures published by a major international construction consultancy. The method used by the BCA is flawed in two ways: one is the in the use of costs that are recognised as giving only the broadest of indications of probable costs and the second is the use of exchange rates to convert Australian construction costs to US dollars. Careful analysis of the methodology used, supported by a series of other comparisons based on other data sources and other conversion factors (purchasing power parities or PPPs), suggests that in real terms it probably costs no more to build in Australia than it does in the US and that it may well be cheaper to build in Australia than it is in the US.

13 citations

Journal ArticleDOI
TL;DR: In this article, a central bank can influence an economy's holdings of foreign bonds through their sterilized interventions, allowing policymakers to affect the terms of trade, which can simultaneously reduce real exchange rate and inflation volatility.

13 citations

ReportDOI
TL;DR: The quality of the money stock declined during the banking crisis of the early 1930s as mentioned in this paper, and the decline in the quality of money stock contributed to the severity of the economic contraction.
Abstract: The quality of the money stock declined during the banking crises of the early 1930s. Bank deposits did not serve as a secure short- term store of purchasing power for use in an emergency as well as they had previously, and during the periods of restricted deposits in late 1932 and early 1933, bank deposits could not fulfill their basic function of being a medium of exchange. This paper presents some evidence to show that the decline in the quality of the money stock contributed to the severity of the contraction.

13 citations

Book
01 May 1984
TL;DR: In this paper, the authors provided an empirical basis for discussion of changes in the agricultural terms of trade, growth of agricultural productivity and incomes, pricing of agricultural inputs and outputs, and subsidies and taxation of agriculture.
Abstract: Despite the importance of agriculture to the national economy of Pakistan and the major role played by the government in its development, a number of key issues have not been adequately addressed by existing studies This paper provides an empirical basis for discussion of changes in the agricultural terms of trade, growth of agricultural productivity and incomes, pricing of agricultural inputs and outputs, and subsidization and taxation of agriculture It notes that the terms of trade between agriculture and the other sectors have not significantly deteriorated during the period 1960-83, and farmers' purchasing power has actually improved Net returns to farmers increased until the recent sharp increases in fertilizer prices reversed this trend Economic taxation of wheat and basmati rice in contrast to the economic subsidies provided to sugar should be a matter of concern This paper argues that appropriate price policies which are responsive to changes in international prices are likely to have as salutary an effect as any attempt to reduce financial subsidies or to increase taxes

13 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023158
2022393
202190
2020113
2019103
2018110