IDEAS home Printed from https://ideas.repec.org/p/uwa/wpaper/22-18.html
   My bibliography  Save this paper

The Icp, Ppp And Household Expenditure Patterns

Author

Listed:
  • Kenneth W Clements

    (Business School, The University of Western Australia)

  • Yihui Lan

    (Business School, The University of Western Australia)

  • Haiyan Liu

    (Business School, The University of Western Australia)

  • Long Vo

    (Business School, The University of Western Australia)

Abstract

This paper reviews and synthetises three areas: The International Comparison Program (ICP), purchasing power parity (PPP) and patterns of household expenditure across countries. To compare countries consistently, the ICP uses relative price levels as PPPs. This approach is seemingly different to that of international finance, whereby PPP is now widely taken to mean that market exchange rates reflect national price levels over the longer term. A unification of the two approaches is suggested with a dependent-economy model. Detailed information on household expenditure patterns is another prominent component of the ICP. The prospectivity of these data is illustrated with several “laws” of consumption, a survey of research on cross-country consumption, and estimates of a global system of demand equations.

Suggested Citation

  • Kenneth W Clements & Yihui Lan & Haiyan Liu & Long Vo, 2022. "The Icp, Ppp And Household Expenditure Patterns," Economics Discussion / Working Papers 22-18, The University of Western Australia, Department of Economics.
    • Handle: RePEc:uwa:wpaper:22-18
    Note: MD5 = ef3aa527e161105f1cda918d5af273cc
    as

    Download full text from publisher

    File URL: https://ecompapers.biz.uwa.edu.au/paper/PDF%20of%20Discussion%20Papers/2022/DP%2022.18_Clements%20Lan%20Liu%20and%20Vo1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. James R. Lothian & Mark P. Taylor, 2008. "Real Exchange Rates Over the Past Two Centuries: How Important is the Harrod‐Balassa‐Samuelson Effect?," Economic Journal, Royal Economic Society, vol. 118(532), pages 1742-1763, October.
    2. Clements, Kenneth W. & Gao, Grace, 2015. "The Rotterdam demand model half a century on," Economic Modelling, Elsevier, vol. 49(C), pages 91-103.
    3. Martin Berka & Michael B. Devereux & Charles Engel, 2018. "Real Exchange Rates and Sectoral Productivity in the Eurozone," American Economic Review, American Economic Association, vol. 108(6), pages 1543-1581, June.
    4. Maurice Obstfeld & Kenneth Rogoff, 2001. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," NBER Chapters, in: NBER Macroeconomics Annual 2000, Volume 15, pages 339-412, National Bureau of Economic Research, Inc.
    5. Crucini, Mario J. & Shintani, Mototsugu, 2008. "Persistence in law of one price deviations: Evidence from micro-data," Journal of Monetary Economics, Elsevier, vol. 55(3), pages 629-644, April.
    6. Robert E. Cumby, 1996. "Forecasting Exchange Rates and Relative Prices with the Hamburger Standard: Is What You Want What You Get With McParity?," NBER Working Papers 5675, National Bureau of Economic Research, Inc.
    7. Charles Engel, 1999. "Accounting for U.S. Real Exchange Rate Changes," Journal of Political Economy, University of Chicago Press, vol. 107(3), pages 507-538, June.
    8. Alexander J. Holmes & Kym Anderson, 2019. "Convergence in National Alcohol Consumption Patterns: New Global Indicators," World Scientific Book Chapters, in: Kym Anderson (ed.), The International Economics of Wine, chapter 25, pages 631-670, World Scientific Publishing Co. Pte. Ltd..
    9. Seale, James Jr. & Walker, Wayne E. & Kim, In-Moo, 1991. "The demand for energy : Cross-country evidence using the Florida model," Energy Economics, Elsevier, vol. 13(1), pages 33-40, January.
    10. Joshua Aizenman & Eileen Brooks, 2008. "Globalization and Taste Convergence: the Cases of Wine and Beer," Review of International Economics, Wiley Blackwell, vol. 16(2), pages 217-233, May.
    11. Kravis, Irving B & Lipsey, Robert E, 1988. "National Price Levels and the Prices of Tradables and Nontradables," American Economic Review, American Economic Association, vol. 78(2), pages 474-478, May.
    12. Michael K. Wohlgenant, 2021. "Market Interrelationships and Applied Demand Analysis," Palgrave Studies in Agricultural Economics and Food Policy, Palgrave Macmillan, number 978-3-030-73144-1, November.
    13. István Kónya & Hiroshi Ohashi, 2007. "International Consumption Patterns among High‐income Countries: Evidence from the OECD Data," Review of International Economics, Wiley Blackwell, vol. 15(4), pages 744-757, September.
    14. Kenneth W. Clements & Yihui Lan & Haiyan Liu, 2020. "Understanding alcohol consumption across countries," Applied Economics, Taylor & Francis Journals, vol. 52(40), pages 4421-4439, August.
    15. Kravis, Irving B, 1986. "The Three Faces of the International Comparison Project," The World Bank Research Observer, World Bank, vol. 1(1), pages 3-26, January.
    16. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
    17. Alan M. Taylor & Mark P. Taylor, 2004. "The Purchasing Power Parity Debate," Journal of Economic Perspectives, American Economic Association, vol. 18(4), pages 135-158, Fall.
    18. Rudiger Dornbusch & Paul Krugman, 1976. "Flexible Exchange Rates in the Short Run," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(3), pages 537-584.
    19. Josip Tica & Ivo Družić, 2006. "The Harrod-Balassa-Samuelson Effect: A Survey of Empirical Evidence," EFZG Working Papers Series 0607, Faculty of Economics and Business, University of Zagreb.
    20. Kenneth W. Clements & Dongling Chen, 2010. "Affluence and Food: A Simple Way to Infer Incomes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(4), pages 909-926.
    21. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72(6), pages 584-584.
    22. George Alessandria & Joseph P. Kaboski, 2011. "Pricing-to-Market and the Failure of Absolute PPP," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 91-127, January.
    23. Kenneth W. Clements, 2019. "Four Laws of Consumption," The Economic Record, The Economic Society of Australia, vol. 95(310), pages 358-385, September.
    24. Lant Pritchett, Marla Spivack, 2013. "Estimating Income/Expenditure Differences across Populations: New Fun with Old Engel's Law-Working Paper 339," Working Papers 339, Center for Global Development.
    25. George B. Tawadros, 2017. "Revisiting the exchange rate disconnect puzzle," Applied Economics, Taylor & Francis Journals, vol. 49(36), pages 3645-3668, August.
    26. James Banks & Richard Blundell & Arthur Lewbel, 1997. "Quadratic Engel Curves And Consumer Demand," The Review of Economics and Statistics, MIT Press, vol. 79(4), pages 527-539, November.
    27. repec:pri:indrel:dsp01t435gd01h is not listed on IDEAS
    28. MarioJ. Crucini & Mototsugu Shintani & Takayuki Tsuruga, 2010. "The Law of One Price without the Border: The Role of Distance versus Sticky Prices," Economic Journal, Royal Economic Society, vol. 120(544), pages 462-480, May.
    29. Dornbusch, Rudiger, 1976. "Expectations and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1161-1176, December.
    30. Ingvild Almas, 2012. "International Income Inequality: Measuring PPP Bias by Estimating Engel Curves for Food," American Economic Review, American Economic Association, vol. 102(2), pages 1093-1117, April.
    31. E. A. Selvanathan, 1991. "Further Results on Aggregation of Differential Demand Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(4), pages 799-805.
    32. Kenneth Clements & Yanrui Wu & Jing Zhang, 2006. "Comparing international consumption patterns," Empirical Economics, Springer, vol. 31(1), pages 1-30, March.
    33. J. Vernon Henderson & Adam Storeygard & David N. Weil, 2012. "Measuring Economic Growth from Outer Space," American Economic Review, American Economic Association, vol. 102(2), pages 994-1028, April.
    34. Phillip Edmund Metaxas & Ernst Juerg Weber, 2016. "An Australian Contribution to International Trade Theory: The Dependent Economy Model," The Economic Record, The Economic Society of Australia, vol. 92(298), pages 464-497, September.
    35. Kenneth Clements & Yihui Lan, 2007. "Exchange rates, productivity, poverty and inequality," Applied Economics, Taylor & Francis Journals, vol. 39(4), pages 471-476.
    36. Christensen, Laurits R & Jorgenson, Dale W & Lau, Lawrence J, 1975. "Transcendental Logarithmic Utility Functions," American Economic Review, American Economic Association, vol. 65(3), pages 367-383, June.
    37. Saroja Selvanathan & Eliyathamby Selvanathan, 2007. "Another look at the identical tastes hypothesis on the analysis of cross-country alcohol data," Empirical Economics, Springer, vol. 32(1), pages 185-215, April.
    38. Clark, Peter B. & MacDonald, Ronald, 2004. "Filtering the BEER: A permanent and transitory decomposition," Global Finance Journal, Elsevier, vol. 15(1), pages 29-56.
    39. William A. Barnett, 1979. "Theoretical Foundations for the Rotterdam Model," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(1), pages 109-130.
    40. Alan M. Taylor & Mark P. Taylor, 2004. "The Purchasing Power Parity Debate," Journal of Economic Perspectives, American Economic Association, vol. 18(4), pages 135-158, Fall.
    41. Li Lian Ong & Yihui Lan, 2003. "The Growing Evidence on Purchasing Power Parity," Palgrave Macmillan Books, in: The Big Mac Index, chapter 2, pages 29-50, Palgrave Macmillan.
    42. Eliyathamby A. Selvanathan & Saroja Selvanathan & Lucille Wong & Maneka Savithri Jayasinghe, 2021. "Modelling Regional Consumption Patterns in Australia," The Economic Record, The Economic Society of Australia, vol. 97(317), pages 141-156, June.
    43. Clements, Kenneth W. & Lan, Yihui, 2010. "A new approach to forecasting exchange rates," Journal of International Money and Finance, Elsevier, vol. 29(7), pages 1424-1437, November.
    44. Parks, Richard W, 1978. "Inflation and Relative Price Variability," Journal of Political Economy, University of Chicago Press, vol. 86(1), pages 79-95, February.
    45. Mark Taylor, 2006. "Real exchange rates and Purchasing Power Parity: mean-reversion in economic thought," Applied Financial Economics, Taylor & Francis Journals, vol. 16(1-2), pages 1-17.
    46. James L. Seale & Anita Regmi, 2006. "Modeling International Consumption Patterns," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 52(4), pages 603-624, December.
    47. Parks, Richard W & Barten, Anton P, 1973. "A Cross-Country Comparison of the Effects of Prices, Income and Population Composition on Consumption Patterns," Economic Journal, Royal Economic Society, vol. 83(331), pages 834-852, September.
    48. Froot, Kenneth A. & Rogoff, Kenneth, 1995. "Perspectives on PPP and long-run real exchange rates," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 32, pages 1647-1688, Elsevier.
    49. Mr. Peter Isard & Mr. Hamid Faruqee, 1998. "Exchange Rate Assessment: Extension of the Macroeconomic Balance Approach," IMF Occasional Papers 1998/012, International Monetary Fund.
    50. Clements, Kenneth W & Selvanathan, Saroja, 1994. "Understanding Consumption Patterns," Empirical Economics, Springer, vol. 19(1), pages 69-110.
    51. Kenneth W Clements & Jiawei Si, 2018. "Engel’s Law, Diet Diversity, and the Quality of Food Consumption," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 100(1), pages 1-22.
    52. Mohsen Bahmani‐Oskooee & Amr Hosny & N. Kundan Kishor, 2015. "The Exchange Rate Disconnect Puzzle Revisited," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 20(2), pages 126-137, March.
    53. Barnett, William A., 1984. "On the flexibility of the Rotterdam model : A first empirical look," European Economic Review, Elsevier, vol. 24(3), pages 285-289, April.
    54. Parsley, David & Wei, Shang-Jin, 2008. "In search of a euro effect: Big lessons from a Big Mac Meal?," Journal of International Money and Finance, Elsevier, vol. 27(2), pages 260-276, March.
    55. Bhagwati, Jagdish N, 1984. "Why Are Services Cheaper in the Poor Countries?," Economic Journal, Royal Economic Society, vol. 94(374), pages 279-286, June.
    56. Seale, James L. & Solano, Alexis A., 2012. "The changing demand for energy in rich and poor countries over 25years," Energy Economics, Elsevier, vol. 34(6), pages 1834-1844.
    57. Michael R. Pakko & Patricia S. Pollard, 1996. "For here or to go? Purchasing power parity and the Big Mac," Review, Federal Reserve Bank of St. Louis, vol. 78(Jan), pages 3-22.
    58. Mussa, Michael, 1986. "Nominal exchange rate regimes and the behavior of real exchange rates: Evidence and implications," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 25(1), pages 117-214, January.
    59. Vining, Daniel R, Jr & Elwertowski, Thomas C, 1976. "The Relationship between Relative Prices and the General Price Level," American Economic Review, American Economic Association, vol. 66(4), pages 699-708, September.
    60. Pollak, Robert A & Wales, Terence J, 1987. "Pooling International Consumption Data," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 90-99, February.
    61. Mills, Terence C., 2018. "Is There Convergence in National Alcohol Consumption Patterns? Evidence from a Compositional Time Series Approach," Journal of Wine Economics, Cambridge University Press, vol. 13(1), pages 92-98, February.
    62. Mountain, Dean C, 1988. "The Rotterdam Model: An Approximation in Variable Space," Econometrica, Econometric Society, vol. 56(2), pages 477-484, March.
    63. Orley Ashenfelter, 2012. "Comparing Real Wage Rates: Presidential Address," American Economic Review, American Economic Association, vol. 102(2), pages 617-642, April.
    64. W. M. Corden, 1960. "The Geometric Representation of Policies to Attain Internal and External Balance," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 28(1), pages 1-22.
    65. John Williamson, 1994. "Estimating Equilibrium Exchange Rates," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 17, April.
    66. Lluch, Constantino & Powell, Alan, 1975. "International comparisons of expenditure patterns," European Economic Review, Elsevier, vol. 6(3), pages 275-303, July.
    67. Clements, Kenneth W., 2008. "Price elasticities of demand are minus one-half," Economics Letters, Elsevier, vol. 99(3), pages 490-493, June.
    68. G. M. Grossman & K. Rogoff (ed.), 1995. "Handbook of International Economics," Handbook of International Economics, Elsevier, edition 1, volume 3, number 3.
    69. Kenneth W. Clements & Long Hai Vo, 2021. "Global Consumption Patterns, Quality And Food Demand," Economics Discussion / Working Papers 21-17, The University of Western Australia, Department of Economics.
    70. Clements, Ken & Lan, Yihui & Liu, Haiyan, 2020. "Understanding Alcohol Consumption across Countries," 2020 Conference (64th), February 12-14, 2020, Perth, Western Australia 305249, Australian Agricultural and Resource Economics Society.
    71. T. W.Swan, 1960. "Economic Control In A Dependent Economy," The Economic Record, The Economic Society of Australia, vol. 36(73), pages 51-66, March.
    72. Orley Ashenfelter, 2012. "Comparing Real Wage Rates," Working Papers 1384, Princeton University, Department of Economics, Industrial Relations Section..
    73. Friedman, Milton, 1977. "Nobel Lecture: Inflation and Unemployment," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 451-472, June.
    74. Maureen T. Rimmer & Alan A. Powell, 1992. "Demand Patterns Across the Development Spectrum: Estimates for the AIDADS System," Centre of Policy Studies/IMPACT Centre Working Papers op-75, Victoria University, Centre of Policy Studies/IMPACT Centre.
    75. Howe, Howard & Pollak, Robert A & Wales, Terence J, 1979. "Theory and Time Series Estimation of the Quadratic Expenditure System," Econometrica, Econometric Society, vol. 47(5), pages 1231-1247, September.
    76. Choi, Jae Hoon & Song, Seongho, 2022. "Revisiting the PPP puzzle: Nominal exchange rate rigidity and region of inaction," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 78(C).
    77. Bennett, Merrill K., 1941. "Wheat in National Diets," Wheat Studies, Stanford University, Food Research Institute, vol. 18(02), pages 1-44, October.
    78. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
    79. Leon Podkaminer, 2011. "Why Are Goods Cheaper In Rich European Countries? Beyond The Balassa–Samuelson Effect," Metroeconomica, Wiley Blackwell, vol. 62(4), pages 712-728, November.
    80. Goldberger, Arthur S. & Gamaletsos, Theodore, 1970. "A cross-country comparison of consumer expenditure patterns," European Economic Review, Elsevier, vol. 1(3), pages 357-400.
    81. Steve Dowrick & Muhammad Akmal, 2005. "Contradictory Trends In Global Income Inequality: A Tale Of Two Biases," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(2), pages 201-229, June.
    82. Kenneth W. Clements & Yihui Lan & Shi Pei Seah, 2012. "The Big Mac Index two decades on: an evaluation of burgernomics," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 17(1), pages 31-60, January.
    83. Isard, Peter, 1977. "How Far Can We Push the "Law of One Price"?," American Economic Review, American Economic Association, vol. 67(5), pages 942-948, December.
    84. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
    85. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, September.
    86. Mr. Ronald MacDonald & Mr. Peter B. Clark, 1998. "Exchange Rates and Economic Fundamentals: A Methodological Comparison of BEERs and FEERs," IMF Working Papers 1998/067, International Monetary Fund.
    87. Bruce W. Hamilton, 2001. "Using Engel's Law to Estimate CPI Bias," American Economic Review, American Economic Association, vol. 91(3), pages 619-630, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Clements, Kenneth W. & Gao, Grace, 2015. "The Rotterdam demand model half a century on," Economic Modelling, Elsevier, vol. 49(C), pages 91-103.
    2. Hai Long Vo & Duc Hong Vo, 2023. "The purchasing power parity and exchange‐rate economics half a century on," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 446-479, April.
    3. Michael Fidora & Claire Giordano & Martin Schmitz, 2021. "Real Exchange Rate Misalignments in the Euro Area," Open Economies Review, Springer, vol. 32(1), pages 71-107, February.
    4. Clements, Kenneth & Lan, Yihui & Roberts, John, 2008. "Exchange-rate economics for the resources sector," Resources Policy, Elsevier, vol. 33(2), pages 102-117, June.
    5. Long Hai Vo, 2023. "Understanding International Price and Consumption Disparities," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 69(2), pages 443-473, June.
    6. Amita Majumder & Ranjan Ray, 2020. "National and subnational purchasing power parity: a review," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 47(2), pages 103-124, June.
    7. Kenneth W Clements & Grace Gao & Thomas Simpson, 2012. "Disparities in Incomes and Prices Internationally," Economics Discussion / Working Papers 12-01, The University of Western Australia, Department of Economics.
    8. Kenneth W Clements, 2023. "Tastes," Economics Discussion / Working Papers 23-01, The University of Western Australia, Department of Economics.
    9. Stephan Schulmeister, 2005. "Purchasing Power Parities for Tradables, Exchange Rates and Price Competitiveness," WIFO Studies, WIFO, number 25656, March.
    10. Claire Giordano, 2021. "How frequent a BEER? Assessing the impact of data frequency on real exchange rate misalignment estimation," Scottish Journal of Political Economy, Scottish Economic Society, vol. 68(3), pages 365-404, July.
    11. Clements, Kenneth W. & Mariano, Marc Jim M. & Verikios, George & Wong, Berwyn, 2022. "How elastic is alcohol consumption?," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 568-581.
    12. Martin Berka & Daan Steenkamp, 2018. "Deviations in real exchange rate levels in the OECD countries and their structural determinants," Working Papers 4, New Zealand Centre of Macroeconomics.
    13. Rod Tyers & Ying Zhang, 2014. "Real exchange rate determination and the China puzzle," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 28(2), pages 1-32, November.
    14. Bordo, Michael D. & Choudhri, Ehsan U. & Fazio, Giorgio & MacDonald, Ronald, 2017. "The real exchange rate in the long run: Balassa-Samuelson effects reconsidered," Journal of International Money and Finance, Elsevier, vol. 75(C), pages 69-92.
    15. Clements, Kenneth W. & Lan, Yihui, 2010. "A new approach to forecasting exchange rates," Journal of International Money and Finance, Elsevier, vol. 29(7), pages 1424-1437, November.
    16. Yihui Lan, 2001. "The Long-Run Value of Currencies: A Big Mac Perspective," Economics Discussion / Working Papers 01-17, The University of Western Australia, Department of Economics.
    17. DavidC. Parsley & Shang-Jin Wei, 2007. "A Prism into the PPP Puzzles: The Micro-Foundations of Big Mac Real Exchange Rates," Economic Journal, Royal Economic Society, vol. 117(523), pages 1336-1356, October.
    18. Marcos José Dal Bianco, 2008. "Argentinean real exchange rate 1900-2006, test purchasing power parity theory," Estudios de Economia, University of Chile, Department of Economics, vol. 35(1 Year 20), pages 33-64, June.
    19. Ashima Goyal, 2014. "Purchasing Power Parity, Wages and Inflation in Emerging Markets," Foreign Trade Review, , vol. 49(4), pages 327-347, November.
    20. David O. Cushman, 2008. "Real exchange rates may have nonlinear trends," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 13(2), pages 158-173.

    More about this item

    Keywords

    International Comparison Program; purchasing power parity; currency valuation; household expenditure patterns across countries;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwa:wpaper:22-18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sam Tang (email available below). General contact details of provider: https://edirc.repec.org/data/deuwaau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.