Comparing the Consistency of Price Parities for Regions of the U.S. in an Economic Approach Framework

摘要

Real comparisons of incomes generally imply either (1) an adjustment of nominal incomes for price changes over time, that is, an adjustment to separate volume from price changes, or (2) an adjustment for relative price differences across space, or a purchasing power parity adjustment. If both those adjustments exist for a set of geographic entities and time periods, the question then becomes one of obtaining a measure that is consistent across both space and time.