Premium
Australia, Japan and the OECD: GDP Rankings and Revealed Preference
Author(s) -
Dowrick Steve,
Quiggin John
Publication year - 1993
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/j.1467-8462.1993.tb00769.x
Subject(s) - consumption (sociology) , per capita , economics , investment (military) , real gross domestic product , gdp deflator , preference , gross private domestic investment , revealed preference , international economics , monetary economics , macroeconomics , econometrics , return on investment , production (economics) , demography , political science , social science , population , open ended investment company , sociology , politics , microeconomics , law
Data on volumes and prices of consumption and investment are used to compare Australian real GDP for 1990 with the other OECD countries. Australian consumption patterns, including leisure, and price structure are very different from most other countries and especially from those of Japan. The Australian bundle of consumption, investment and leisure is revealed preferred to that of Japan and a number of other countries which are conventionally ranked above Australia in comparisons of real GDP per capita at international prices.