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Penn World Table 7.0: Are the Data Seriously Flawed?

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  • Theodore Breton

Abstract

Penn World Table (PWT) 7.0 is the newest PWT data set, based in part on benchmarked prices collected in 2005. In theory the data in PWT 7.0 should be more accurate than the data in PWT 6.3 since 1996 and similar in earlier years. I show that PWT 7.0 GDP/capita and price data for 1970 to 1996 deviate substantially from prior PWT data that are benchmarked to prices across countries for those years. I conclude that overall the PWT 7.0 data are much less accurate than the data in PWT 6.2 and 6.3.

Suggested Citation

  • Theodore Breton, 2012. "Penn World Table 7.0: Are the Data Seriously Flawed?," Documentos de Trabajo de Valor Público 10574, Universidad EAFIT.
    • Handle: RePEc:col:000122:010574
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    Cited by:

    1. Michael Jetter & David Stadelmann, 2019. "Terror per Capita," Southern Economic Journal, John Wiley & Sons, vol. 86(1), pages 286-304, July.
    2. Lionel Roger, 2015. "Foreign Aid, Poor Data, and the Fragility of Macroeconomic Inference," Discussion Papers 2015-06, University of Nottingham, CREDIT.

    More about this item

    Keywords

    Penn World Table; Economic Data; Data Measurement;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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