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Robert Feenstra awarded an NSF and a Sloan Foundation Grant

Robert Feenstra has been awarded two recent grants for his research: one from the National Science Foundation for $750,000 over three years (shared with colleagues at the University of Pennsylvania and the University of Chicago), and a second from the Sloan Foundation for $500,000 over three years (shared with colleagues at the University of Pennsylvania and the University of Groningen, The Netherlands). Both these grants are to support research on the comparison of “real GDP” across countries. In this topic, he will compare the standard of living of the average citizen in one country to that in another country, and also the productive capacity of one country to another. These comparisons are difficult to make because of differences in prices and exchange rate across countries, all of which must be corrected for. This work used do be done at the University of Pennsylvania in what was called the “Penn World Table,” or PWT. That project will now be taken over by UC Davis and the University of Groningen, where it will be called pwt@ucdavis.edu and pwt@ugroningen.edu.