OxTalks is Changing
OxTalks will soon move to the new Halo platform and will become 'Oxford Events.' There will be a need for an OxTalks freeze. This was previously planned for Friday 14th November – a new date will be shared as soon as it is available (full details will be available on the Staff Gateway).
In the meantime, the OxTalks site will remain active and events will continue to be published.
If staff have any questions about the Oxford Events launch, please contact halo@digital.ox.ac.uk
International Comparisons: Multilateral Indices and Nonparametric Bounds
In a world where prices differ across countries, constructing valid international comparisons of prices and incomes is crucial for understanding global poverty, inequality, and growth. Multilateral index number methods aim to facilitate such comparisons, but their interpretation from an economic welfare standpoint can be questionable. To study and clarify this issue, I develop a theory-consistent approach by constructing non-parametric bounds on multilateral cost-of-living indices. These bounds leverage the existence of a reference consumer whose preferences can account for 98% of world output in 2017. The multilateral bounds tighten the classical bilateral bounds by an average of 23%. I then use these bounds to assess the welfare validity of widely-used international comparison methods.
Date:
7 June 2024, 12:45
Venue:
Manor Road Building, Manor Road OX1 3UQ
Venue Details:
Seminar Room G or https://zoom.us/j/96595245637?pwd=dEdBSGpXN0xoNEdhSUs4Z3JlVHl3dz09
Speaker:
Hubert Wu (University of Oxford)
Organising department:
Department of Economics
Part of:
Student Research Workshop in Micro Theory
Booking required?:
Not required
Audience:
Members of the University only
Editor:
Edward Valenzano
