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| Author: | Hill, R. |
| Title: | Comparing price levels across countries using minimum-spanning trees |
| Journal: | Review of Economics and Statistics
1999 : FEB, VOL. 81:1, p. 135-142 |
| Index terms: | STATISTICS ECONOMICS PRICE LEVEL |
| Language: | eng |
| Abstract: | In this article it is shown haw a comparison of price levels across a group of countries can be made by chaining bilaterial price indexes across a spanning degree. It is argued that we should use the spanning tree whose resulting multilateral price indexes are least sensitive to the choice of bilateral formula. This minimum-spanning tree can be easily computed using Kruskal's algorithm. Results obtained by chaining Fisher indexes across a minimum-spanning tree are compared with the Penn World Table. |
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