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Economic growth in national accounting: a comparison between Germany and the U.S

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  • Wolfgang Nierhaus

Abstract

Since 1996 the growth rate of real GDP in the U.S. has been measured on the basis of a chain-type annual-weighted Fisher quantity index, i.e. the growth rate of real GDP is independent of the basis year but it is no longer ensured that GDP is equal to the sum of its components. Despite this flaw, a change in the German national accounts system to a Fisher index would be necessary if also in the German price statistics hedonic methods were used to measure price developments in the area of IT investments. After such a revision, the results of German national accounting would again be compatible with the statistical data of the U.S. and other important industrial countries.

Suggested Citation

  • Wolfgang Nierhaus, 2001. "Economic growth in national accounting: a comparison between Germany and the U.S," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(03), pages 41-51, March.
    • Handle: RePEc:ces:ifosdt:v:54:y:2001:i:03:p:41-51
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    References listed on IDEAS

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    1. Stefano Scarpetta & Andrea Bassanini & Dirk Pilat & Paul Schreyer, 2000. "Economic Growth in the OECD Area: Recent Trends at the Aggregate and Sectoral Level," OECD Economics Department Working Papers 248, OECD Publishing.
    2. Wolfgang Nierhaus & Wolfgang Meister, 1999. "Harmonisierung der VGR : statistisches Bundesamt stellt revidierte Daten für 1991 bis 1998 vor," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 52(14), pages 03-07, October.
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    Cited by:

    1. Hense, Andreas & Stronzik, Marcus, 2005. "Produktivitätsentwicklung der deutschen Strom- und Gasnetzbetreiber: Untersuchungsmethodik und empirische Ergebnisse," WIK Discussion Papers 268, WIK Wissenschaftliches Institut für Infrastruktur und Kommunikationsdienste GmbH.
    2. Wolfgang Nierhaus, 2004. "Economic growth in the system of national accounts: the introduction of the previous-year price base in the German statistics," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(05), pages 28-34, March.
    3. Gebhard Flaig, 2001. "Is there a "new economy"? Effects on the American production potential," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(05), pages 16-21, October.
    4. Flor Michael, 2014. "Post reunification economic fluctuations in Germany: a real business cycle interpretation," Review of Business and Economics Studies, CyberLeninka;Федеральное государственное образовательное бюджетное учреждение высшего профессионального образования «Финансовый университет при Правительстве Российской Федерации» (Финансовый университет), issue 4, pages 5-17.
    5. Klaus Abberger & Gebhard Flaig & Wolfgang Nierhaus, 2007. "ifo Konjunkturumfragen und Konjunkturanalyse : ausgewählte methodische Aufsätze aus dem ifo Schnelldienst," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 33.
    6. Michael Flor, 2014. "Post Reunification Economic Fluctuations in Germany: A Real Business Cycle Interpretation," Working Papers 146, Bavarian Graduate Program in Economics (BGPE).
    7. Wolfgang Nierhaus, 2005. "The introduction of the previous-year price basis in German National Accounts: Consequences for business-cycle analysis," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(05), pages 19-27, March.

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    JEL classification:

    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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