Understanding Purchasing Power Parities (PPPs)pubdocs.worldbank.org › ... › pdf ›...
Transcript of Understanding Purchasing Power Parities (PPPs)pubdocs.worldbank.org › ... › pdf ›...
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Understanding Purchasing
Power Parities (PPPs)
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Introduction to the seminar
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Introduction to PPPs (…by Sir
Angus Deaton)
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PPP Concepts (…from the PPP
eLearning)
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History of PPPs and the
International Comparison
Program (ICP)
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HISTORY AND EVOLUTION
1500s 1918 1940 1950 1960
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HISTORY AND EVOLUTION 1968
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2017
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Y2020
Y2022 Y2025
GOING FORWARD: FREQUENT & PERMANENT ICP
ICP 2017
Cycle
Revised 2011 ICP
PPP Timeseries for 2011-17
ICP 2020
Cycle
3-YEAR ICP CYCLES, RESULTS T+2
ICP 2023
Cycle
…Timeseries…
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ICP PARTNERSHIPS
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ICP Data Value Chain
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & ApplicationsDATA VALUE CHAIN
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications01 RESEARCH AGENDA
� Build consistent PPP time series
� Improve PPP reliability and quality
� Address difficult-to-measure areas
� Strengthen alignment between ICP and national statistical programs
� Advocate wider uses and applications of PPPs
� Explore innovations in technology and new data sources
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications02 STANDARDS & GUIDELINES
� Ensure quality and comparability of data across countries
� Help design ICP surveys to allow the production of more frequent PPPs
� Strengthen synergies between ICP and CPI surveys
� Make use of national accounts, census and administrative data
� Guide countries to produce sub-national PPPs
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications03 IDENTIFICATION
� WHAT? o Consumer goods and
serviceso Housing typeso Government occupationso Investment goods and
services� WHERE?
o Locations and outlets� WHEN?
o Survey schedule and frequency
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications04 COLLECTION & COMPILATION
� Collect prices for consumer and investment goods and services
� Collect rents for housing types
� Compile compensation of government employees from admin data
� Compile GDP expenditures, exchange rates, and population estimates from existing national statistics
� Collect metadata
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications05 VALIDATION
� Collaborative and iterative effort between countries and multilateral agencies
� Ensure the quality of prices, rents and compensation data
� Evaluate GDP expenditure data, exchange rates, and population estimates
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications06 PROCESSING & RESULTS
� Process input data to produce results for reference years [every three years]
� Interpolate between reference years to produce a PPP time series
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications07 QUALITY ASSURANCE
� Assess quality and relevance of results
� Determine the level of detail to publish
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications08 DISSEMINATION
� Produce reports and tables of results
� Publish through online channels: database, dashboards, etc.
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications09 ANALYSIS & VISUALIZATION
� Analyze results
� Visualize findings
� Create country profiles
� Produce topic-specific policy notes
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01 Research & Methodology
02 Standards & Guidelines
03Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications10 USES & APPLICATIONS
� Promote:
o Uses of PPPs and related indicators
o Uses of underlying ICP data
o Applications of PPPs (e.g. sub-national PPPs)
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Uses of PPPs and ICP data
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USES: SDGS
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USES: SDGS AND PPPS
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USES: SDGS
What % of people around the world
live on less than US$1.90/day?
Source: United Nations (2017). The Sustainable Development Goals Report 2017.
1999
2013
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USES: SDGS
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USES: SDGS
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St Kitts
& Nevis
Country UsesAllowances for foreign
services officers
USES: OTHER USES
Institutional UsesShareholding formulas
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Future of ICP and PPPs
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PPPs ..
… of higher quality
… faster to generate
… with more metadata
… more cost effective
LOOKING AHEAD
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A VIEW INTO THE FUTURE
19682068
2018
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01 Research & Methodology
02 Standards & Guidelines
03 Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & ApplicationsWEB SCRAPING: Prices
from online retailers and
other online sources
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01 Research & Methodology
02 Standards & Guidelines
03 Identification
04 Collection & Compilation
05 Validation
06 Processing & Results
07 Quality Assurance
08Dissemination
09 Analysis & Visualization
10 Uses & Applications
SCANNER DATA: Data
from retailers’ point of
sale
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CROWDSOURCING: IN PRACTICE
� World Bank ICP pilot to collect prices, images & metadata
for 150+ goods and services in 15 countries
� Privately-operated network of local contributors (not
trained collectors!) using smart-phone data collection app
Key findings
� Crowdsourcing approach proved feasible
� More timely data = faster collection and validation
� More metadata available to users (e.g. shop locations)
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ADMINISTRATIVE DATA DISRUPTIVE TECHNOLOGIES PRIVATE SECTOR DATA
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THANK YOU!
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Questions …and answers
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http://icp.worldbank.org
https://olc.worldbank.org/content/fundamenta
ls-purchasing-power-parities-ppps-self-paced