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  • INTERNATIONAL AND INTERAREA COMPARISONS OF INCOME, OUTPUT, AND PRICES
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    INTERNATIONAL AND INTERAREA COMPARISONS OF INCOME, OUTPUT, AND PRICES
    ALAN HESTON
    Economists wish to compare prices, real income, and output across countries and regions for many purposes. In the past, such comparisons were made in nominal terms, or by using exchange rates across countries, ignoring differences in price levels and thus distorting the results. Great progress has been made in interspatial comparisons in the past thirty years, but descriptions ...

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