On Purchasing Power Parities, the Big Mac Index, and the International Comparison Programme

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The GDP per capita of the Philippines exceeds that of India by 55%, but the cost of living is so much cheaper in India that if you account for cheaper goods and services, that difference narrows to only 20%. In this first installment of Numbersense, we will take a look at purchasing power parities and why they are important for cross-country comparisons.

TJ Palanca https://www.twitter.com/tjpalanca