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Previous year price basis: Aggregation and linked difference

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  • Wolfgang Nierhaus

Abstract

In spring 2005 the Federal Statistical Office readjusted its calculation of real GDP from a fixed price basis to a previous year price basis. A central problem is the non-additivity of linked volume values, that is, the sum of linked partial aggregates deviates, as a rule, from the value of the linked total aggregate. In general, a linked difference (residue) arises. This article examines the calculation procedure and its associated problems.

Suggested Citation

  • Wolfgang Nierhaus, 2007. "Previous year price basis: Aggregation and linked difference," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 60(06), pages 29-33, March.
    • Handle: RePEc:ces:ifosdt:v:60:y:2007:i:06:p:29-33
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    References listed on IDEAS

    as
    1. Tödter, Karl-Heinz, 2005. "Umstellung der deutschen VGR auf Vorjahrespreisbasis," Discussion Paper Series 1: Economic Studies 2005,31, Deutsche Bundesbank.
    2. Wolfgang Nierhaus, 2005. "Previous-year price basis: Calculating rules for aggregation," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(22), pages 12-16, November.
    3. Wolfgang Nierhaus, 2005. "Previous year price basis and chain linking in the National Accounts: the most important features of the new volume calculation," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(15), pages 29-35, August.
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    Cited by:

    1. Wolfgang Nierhaus, 2013. "Economic Growth in Germany's Quarterly National Accounts: Previous Year's Price Basis Revisited," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 66(03), pages 29-36, February.
    2. 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.
    3. Michael Flor, 2014. "Post Reunification Economic Fluctuations in Germany: A Real Business Cycle Interpretation," Working Papers 146, Bavarian Graduate Program in Economics (BGPE).
    4. Wolfgang Nierhaus, 2008. "Price-adjusted GDP and the practice followed by the Institutes in the Joint Economic Analysis," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 61(09), pages 15-18, May.
    5. Wolfgang Nierhaus & Timo Wollmershäuser, 2016. "ifo Konjunkturumfragen und Konjunkturanalyse: Band II," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 72.

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    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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