Disparities in incomes and prices internationally / by Kenneth W. Clements, Grace Gao and Thomas Simpson
- Bib ID:
- 5980401
- Format:
- Book
- Author:
- Clements, Kenneth W. (Kenneth William), 1950-
- Online Version:
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- Description:
-
- [Nedlands, W.A.] : University of Western Australia, Business School, Economics, 2011
- 54 p. : ill. ; 21 cm.
- Series:
- Discussion paper (University of Western Australia. Business School. Economics) ; 12.01.
- Summary:
-
The dispersion of the distribution of relative prices in poor countries is substantially higher than that in the rich. As in 130+ countries relative prices are closely related to incomes, we develop a model that shows that the prices of luxeries (necessities) rise (fall) with income growth. This model provides a link between price dispersion and incomes that leads to several interesting concepts, including minimum-variance income and dispersion-equivalent income, the income needed to compensate for higher dispersion, which are illustrated with data from the International Comparison Program. The paper also contains an analysis of the welfare cost of higher dispersion in poorer countries.
- Notes:
-
- At head of title: November 2011.
- Includes bibliographical references (p. 17-18)
- Also available online. Address as at 12/06/2012: http://www.business.uwa.edu.au/school/disciplines/economics/2012-economics-discussion-papers
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- Copyright:
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In Copyright
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Copyright status was determined using the following information:
- Material type:
- Literary Dramatic Musical
- Published status:
- Published
- Publication date:
- 2011
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