Re: Euro Rates Slashed

[Dennis R Redmond <dredmond@xxxxxxxxxxxxxxxxxx>]

On Mon, 7 Dec 1998, Alan G. Isaac wrote:

> PS Time to revisit the PENN World Tables, I'd say.

The EU core economies and Japan *are* richer per capita than the US in
exchange rate terms (using decade averages, and not picking, say, early
1998, when the dollar was 140 yen). That doesn't mean their population
lives better; prices for lots of goods are higher in Japan,
living-quarters are more crowded in Europe, etc. Unless you have direct
evidence that the official OECD statistics are wrong (which they could
well be)?

-- Dennis