Trend 1950 - 2011. Groningen Growth and Development Centre. Penn World Table 8.0: Price Level of Government Consumption, Price Level of US GDPO in 2005=1 | Country: Iceland, 1950-2011. Data-Planet™ Statistical Ready Reference by Conquest Systems, Inc. Dataset-ID: 071-001-032.

• Main Author: Groningen Growth And Development Centre
• Format: Article in Journal/Newspaper
• Language: English
• Published: Data-Planet™ Statistical Ready Reference by Conquest Systems, Inc. 2015
• Subjects: Purchasing Power; Gross Domestic Product GDP; Social Development; Economic Development; Government Spending; Price Indexes; Iceland
• Online Access: https://dx.doi.org/10.6068/dp14bade9fd9449; http://statisticaldatasets.data-planet.com/dataplanet/Datasheet_DOI_Servlet?ID=14bade9fd9449&type=datasheet&version=1

Groningen Growth and Development Centre (2015). Penn World Table 8.0: Price Level of Government Consumption, Price Level of US GDPO in 2005=1 | Country: Iceland, 1950-2011. Data-Planet™ Statistical Ready Reference by Conquest Systems, Inc. [Data-file]. Dataset-ID: 071-001-032. Dataset: Shows the price level of the share of output-based gross domestic product (GDP) that is represented by government consumption, relative to the price level of output-based GDP in the United States, where 2005=1. Output-side real GDP allows comparison of productive capacity across countries and over time. 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. Following 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 (CICUP) 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 final version of the PWT (7.1) produced at CICUP was released in 2011. After 2012 PWT is being jointly maintained by Robert Feenstra at University of California-Davis, and Marcel Timmer and Robert Inklaar at the University of Groningen, and hosted at the Groningen Growth and Development Centre. The current version PWT 8.0 was prepared by Robert C. Feenstra, Robert Inklaar and Marcel P. Timmer, and was released in July 2013. This substantially revised version purchasing power parity and national income accounts converted to international prices for 167 countries and territories, 1950-2011. As in 7.0 and 7.1, V8.0 uses the World Bank International Comparison Program data, the 146-country benchmark ICP detailed price comparisons. Major changes include (1) relative prices of exports and imports are measured, which permits a distinction between two measures of real gross national product (GDP), one aimed at capturing relative living standards (as before) and one aimed at capturing relative productive capacity; (2) the method by which PPPs over time are estimated uses more of the historical price survey material; and (3) measures of capital stock and (total factor) productivity are introduced. Category: Industry, Business, and Commerce, International Relations and Trade Source: Groningen Growth and Development Centre The Groningen Growth and Development Centre was founded in 1992 within the Economics Department of the University of Groningen by a group of researchers working on comparative analysis of levels of economic performance and differences in growth rates. The research activities of the Centre are largely based on a range of comprehensive databases on indicators of growth and development that the Centre compiles and maintains on a regular basis. The Centre hosts updates of the Penn World Table, originally produced at the Center for International Comparisons of the University of Pennsylvania, beginning with v8.0. http://www.rug.nl/research/ggdc/data/penn-world-table Subject: Purchasing Power, Gross Domestic Product (GDP), Social Development, Economic Development, Government Spending, Price Indexes