Trend 1950 - 2000. Center for International Comparisons of Production, Income and Prices. Penn World Table 6.1: Price Level of Consumption | Country: Iceland, 1950-2000. Data-Planet™ Statistical Ready Reference by Conquest Systems, Inc. Dataset-ID: 070-001-009.

• Main Author: Center For International Comparisons Of Production, Income
• Format: Article in Journal/Newspaper
• Language: English
• Published: Data-Planet™ Statistical Ready Reference by Conquest Systems, Inc. 2015
• Subjects: Purchasing Power; Consumer Spending; Gross Domestic Product GDP; Consumption; Social Development; Economic Development; Price Indexes; Milton; Iceland
• Online Access: https://dx.doi.org/10.6068/dp14bad2bd35c97; http://statisticaldatasets.data-planet.com/dataplanet/Datasheet_DOI_Servlet?ID=14bad2bd35c97&type=datasheet&version=1

Center for International Comparisons of Production, Income and Prices (2015). Penn World Table 6.1: Price Level of Consumption | Country: Iceland, 1950-2000. Data-Planet™ Statistical Ready Reference by Conquest Systems, Inc. [Data-file]. Dataset-ID: 070-001-009. Dataset: Price level of the share of gross domestic product (GDP) that is represented by consumption is the purchasing power parity (PPP) over the consumption share of GDP divided by the exchange rate times 100. The PPP of any component of GDP is the national currency value divided by the real value in international dollars. (An international dollar [also known as the Geary-Khamis dollar] has the same purchasing power over GDP as a US dollar has in the United States in a given base year, here, 1996.) The PPP and the exchange rate are both expressed as national currency units per US dollar. Current price figures show data where the value for each item is expressed in terms of the prices in that period. Values are obtained from an aggregation using price parities and domestic currency expenditures. The benchmark dataset consisted of 32 heading parities and expenditure shares produced by the World Bank for 115 countries from various regional United Nations International Comparison Programme studies. For countries that were not in the 1996 benchmark study, the price parities are estimated using either a short-cut method or extrapolated from previous benchmarks. The Penn World Table (PWT) displays a set of national accounts economic time series covering many countries. Its expenditure entries are denominated in a common set of prices in a common currency so that real quantity comparisons can be made, both between countries and over time. It also provides information about relative prices within and between countries, as well as demographic data and capital stock estimates. Since the regionalization of the United Nations International Comparison Programme (ICP) beginning with the 1980 benchmark, Robert Summers and Alan Heston at the Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania have been using ICP benchmark comparisons as a basis for estimating PPPs (purchasing power parities) for non-benchmark countries and extrapolations backward and forward in time. The Penn World Tables are described in Summers and Heston "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988" (Quarterly Journal of Economics, May 1991, 327-368). The current version of Penn World Tables, PWT 6.1, was prepared by Bettina Aten, Heston, and Summers with the assistance of Mark McMullen, Feng Zhu, Sham Shah, and Prajesh Parekh and was released in October 2002. V6.1 provides purchasing power parity and national income accounts converted to international prices for 168 countries and territories, 1950-2000, where available, with 1996 as the reference year. Category: Industry, Business, and Commerce, International Relations and Trade Source: Center for International Comparisons of Production, Income and Prices The Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania (CICUP) was established in 1990 to continue an intellectual tradition begun at Penn during the 1940s by Simon Kuznets. Kuznets was on the faculty and was further elaborating the system of national accounts that he had helped create. Irving B. Kravis, a student of Kuznets’, moved forward research in the area of spatial national accounts, first with his work for the Organization for European Economic Cooperation with Milton Gilbert. Another Kuznets student, Richard Easterlin, engaged in a number of historical studies of the regional growth of the United States economy. CICUP was established as a center that would include these traditions in addition to other areas of research involving cross-country and inter-area comparisons of incomes and prices. https://pwt.sas.upenn.edu/ Subject: Purchasing Power, Consumer Spending, Gross Domestic Product (GDP), Consumption, Social Development, Economic Development, Price Indexes