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The property that requires transitive multilateral comparisons between members of a group of countries to retain the essential features of the intransitive binary comparisons that existed between them before transitivity. A transitive multilateral comparison between a pair of countries is influenced by the price and quantity data of all other participating countries.

Characteristicity requires that the impact of these influences should be kept to a minimum when they are introduced into the intransitive binary comparison. In other words, the multilateral PPP between two countries should deviate as little as possible from their binary PPP.

Source Publication:
Eurostat, OECD, 2007, Eurostat-OECD Methodological Manual on Purchasing Power Parities, OECD, Paris – Annex VII, Glossary of terms and abbreviations.

Statistical Theme: Prices and purchasing power partities

Created on Thursday, February 06, 2003

Last updated on Thursday, July 12, 2007