Entries by Fiona Considine

Centre for Economic Policy Research | Debating defence budgets: Why military purchasing power parity matters with Professor Peter Robertson

US military spending is said to be greater than the next 11 countries combined. However, the conventional use of market exchange rates to compare across countries dramatically overstates US spending relative to other countries. This column introduces a military purchasing power parity exchange rate for 59 countries based on the relative unit cost ratio across […]