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Product Variety, the Cost of Living and Welfare Across Countries / Alberto Cavallo, Robert C. Feenstra, Robert Inklaar.
- Format:
- Book
- Author/Creator:
- Cavallo, Alberto.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w28711.
- NBER working paper series no. w28711
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2021.
- Summary:
- We use the structure of the Melitz (2003) model to compare the cost of living and welfare across countries, while incorporating product variety measured by the count of barcodes or firms. For 47 countries, we compare welfare relative to the United States to conventional measures of real consumption. Relative welfare is similar to or higher than that indicated by real consumption for a select group of nations in Europe and some large countries like China and Russia, but lower in most other countries. This qualitative pattern has some similarities to that found in Jones and Klenow (2016), but for very different reasons.
- Notes:
- Print version record
- April 2021.
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