Journal Article

Comparing Costs of Living across World Cities

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collection.link.102
https://openknowledge.worldbank.org/handle/10986/2211
collection.name.102
A. World Bank Economic Review
dc.contributor.author
Nakamura, Shohei
dc.contributor.author
Harati, Rawaa
dc.contributor.author
Lall, Somik V.
dc.contributor.author
Dikhanov, Yuri M.
dc.contributor.author
Hamadeh, Nada
dc.contributor.author
Oliver, William Vigil
dc.contributor.author
Rissanen, Marko Olavi
dc.contributor.author
Yamanaka, Mizuki
dc.date.accessioned
2021-08-17T18:47:33Z
dc.date.available
2021-08-17T18:47:33Z
dc.date.issued
2020-02
dc.date.lastModified
2021-08-18T05:10:39Z
dc.description.abstract
This paper compares costs of living across world cities. The International Comparison Program (ICP) reports price levels across world economies in its calculation of purchasing power parity through an extensive scale of price data collection and rigorous methodology. While the price levels are reported only at the national level, some modification makes it possible to compare the cost of living across a group of world cities. In addition, various agencies report costs of living rankings for world cities on a regular basis, and some of them, such as the Economist Intelligence Unit (EIU)’s World Cost of Living Survey, systematically collect a wide variety of items from a host of cities, even covering low-income countries. This article's application of the ICP method to the EIU price data yields an overall reasonable result: richer cities have higher price levels, and the rankings of cities based on their price levels are similar when using the ICP and EIU data. Nevertheless, the results based on the EIU data differ from the ICP data relatively widely in some nonfood items and among cities with low price levels. This result highlights important issues regarding the data and methodology required to measure costs of living for development purposes.
en
dc.identifier.citation
World Bank Economic Review
dc.identifier.issn
1564-698X
dc.identifier.uri
http://hdl.handle.net/10986/36152
dc.publisher
Published by Oxford University Press on behalf of the World Bank
dc.rights
CC BY-NC-ND 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subject
PURCHASING POWER PARITY
dc.subject
PRICE
dc.subject
URBANIZATION
dc.subject
INTERNATIONAL COMPARISON PROGRAM
dc.subject
ECONOMIC GROWTH
dc.title
Comparing Costs of Living across World Cities
en
dc.type
Journal Article
en
okr.date.disclosure
2021-08-17
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Journal Article
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1093/wber/lhz037
okr.journal.nbpages
S79-S88
okr.language.supported
en
okr.peerreview
Academic Peer Review
okr.region.administrative
Africa
okr.region.geographical
Sub-Saharan Africa
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Economic Theory & Research
okr.topic
Macroeconomics and Economic Growth :: Inflation
okr.volume
34(Supplement)

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