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Aggregate production and price level: Volume calculations in comparison

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  • Wolfgang Nierhaus

Abstract

On the basis of a decision by the European Commission of 30 November 1998, in spring 2005 the Federal Statistical Office converted the calculation of real GDP for Germany from a fixed price basis to a previous year price basis. Since February of this year, the working group "national accounts calculation of the German federal states" has been applying this concept. The conversion to the previous year price basis with annually changeable weighting has been accompanied by considerable changes. This article shows the consequences of this change of method for the measurement of economic growth and aggregate price development.

Suggested Citation

  • Wolfgang Nierhaus, 2006. "Aggregate production and price level: Volume calculations in comparison," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 59(14), pages 13-18, July.
    • Handle: RePEc:ces:ifosdt:v:59:y:2006:i:14:p:13-18
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    References listed on IDEAS

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    1. Wolfgang Nierhaus, 2004. "Zur Einführung der Vorjahrespreisbasis in der deutschen Statistik: Besonderheiten der Quartalsrechnung," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(15), pages 14-21, August.
    2. 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.
    3. Wolfgang Nierhaus, 2006. "On aggregate price developments," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 59(03), pages 28-31, February.
    4. Tödter, Karl-Heinz, 2005. "Umstellung der deutschen VGR auf Vorjahrespreisbasis," Discussion Paper Series 1: Economic Studies 2005,31, Deutsche Bundesbank.
    5. 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.
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    Cited by:

    1. Karl-Heinz Tödter, 2007. "Replik zur Kritik an ,,Volumenanteile und Wachstumsbeiträge bei der Vorjahrespreismethode mit Verkettung‘‘," AStA Wirtschafts- und Sozialstatistisches Archiv, Springer;Deutsche Statistische Gesellschaft - German Statistical Society, vol. 1(1), pages 79-84, June.

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    More about this item

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)

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