Response to some dude on MR
A response to Preston Becker (and related inquiries)
Note: Both the dependent and independent variables are per capita and adjusted with AIC PPP, as opposed to some other analyses I have conducted wherein the variables are estimates of real volume (adjusting for category specific price levels). These tend to have a markedly wider variance the the volume ones due to the interaction of volume and price effects!
With selected comps (UK, Japan, Greece, Norway, and Sweden)
source: WorldBank 2011 ICP and WHO