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Using Online Prices for Measuring Real Consumption Across Countries

Alberto Cavallo, W. Erwin Diewert, Robert C. Feenstra, Robert Inklaar, Marcel P. Timmer

NBER Working Paper No. 24292
Issued in February 2018
NBER Program(s):International Finance and Macroeconomics, International Trade and Investment

We show that online prices can be used to construct quarterly purchasing power parities (PPPs) with a closely-matched set of goods and identical methodologies in a variety of developed and developing countries. Our results are close to those reported by the International Comparisons Program (ICP) in 2011 and the OECD in 2014, and can be used to obtain more up-to-date estimates of real consumption across countries without the need for consumer price index extrapolations. We discuss advantages and limitations associated with the use of online prices for PPs, including issues of representativeness and limited coverage of product categories and countries.

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Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w24292

Published: Alberto Cavallo & W. Erwin Diewert & Robert C. Feenstra & Robert Inklaar & Marcel P. Timmer, 2018. "Using Online Prices for Measuring Real Consumption across Countries," AEA Papers and Proceedings, vol 108, pages 483-87.

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