Titlebook: Essays in Economic History; Purchasing Power Par Lawrence H. Officer Book 2022 The Editor(s) (if applicable) and The Author(s), under exclu

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Salamancans and Gerard Malyneswer-parity [PPP] theory. The Salamancans are the victors, for two reasons. First, they wrote their pertinent treatises prior to Malynes’ work on the topic. Second, the best of the Salamancans present a complete model of PPP, whereas Malynes has only the ingredients of the theory and does not put the

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Purchasing Power Parity in Economic Historyssed, 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 Emp

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Law of One Price aggregation, a model is developed to test equality of the prices of tradables and nontradables domestically and equality of the price of tradables internationally. The disaggregative approach exhibits biases that lead to rejection of the law of one price. In contrast, the results of the aggregative

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Terms of Trade and services. While the terms of trade for goods increase over time, in line with conventional finding; the terms of trade for services decrease. Improvement in the balance of goods relative to the balance of services suggests a shift in U.S. comparative advantage from services to goods, favorable

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Consumer Price Indexf payments for the United States. The second section is a review of a book that takes a broad historical view of the official consumer price index and its responsible authority (Bureau of Labor Statistics). The book goes behind statistical analysis and highlights the tensions between technical work