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Convert a value to its historical equivalent using a GDP deflator

Source: R/historical_real.R
historical_real.Rd

Takes a monetary amount from a recent year and returns what it would have been worth in a specified historical year, using GDP deflator data sourced from the World Bank Development Indicators (indicator: NY.GDP.DEFL.ZS). This is the inverse of adjust_real.

Usage

historical_real(amount, to_year, currency, from_year = NULL, round = 2)

Arguments

amount

Numeric (scalar or vector). The monetary amount(s) in the reference year.

to_year

Integer. The historical year to convert back to.

currency

Character. Currency code ("GBP", "AUD", "USD", "EUR", "CAD", "JPY", "CNY", "CHF", "NZD", "INR", "KRW", "BRL", "NOK") or country name ("Australia", "United States", etc.) — case-insensitive.

from_year

Integer. The year the amount is from. Defaults to the latest year available in the deflator series.

round

Integer or NULL. Number of decimal places to round to (default 2). Use NULL for full precision.

Value

A numeric value (or vector) representing the historical equivalent amount.

Details

For converting consumer or personal values, use historical_value which uses CPI instead.

See also

Other GDP deflator adjustment: adjust_real()

Examples

# What would UK GDP of £2 trillion today have been in 1990 terms?
historical_real(2e12, 1990, "GBP")
#> [1] 823440738647

# What would USD 1 trillion in 2020 have been worth in 2000?
historical_real(1e12, 2000, "USD", from_year = 2020)
#> [1] 6.99844e+11