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Purchasing Power Parity in Economic History

In: Essays in Economic History

Author

Listed:
  • Lawrence H. Officer

    (University of Illinois at Chicago)

Abstract

Purchasing power parity (PPP) is given a sympathetic and expansive treatment from the standpoint of economic history. While only relative PPP is discussed, for lack of data on the absolute version in these early times, PPP is interpreted broadly in “augmented” form to include variables beyond exchange rate and price indexes. A wide range of techniques for testing and applying PPP is outlined and accepted. Periods examined range from the Roman Empire to the 1930s. In sum, PPP provides a perspective that enriches our understanding of the relationship between exchange rates and commodity prices over the vast expanse of human history.

Suggested Citation

  • Lawrence H. Officer, 2022. "Purchasing Power Parity in Economic History," Springer Books, in: Essays in Economic History, chapter 0, pages 43-75, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-95925-8_3
    DOI: 10.1007/978-3-030-95925-8_3
    as

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