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Previous Year’s Prices: Aggregation and Growth Contributions

Author

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  • Wolfgang Nierhaus

Abstract

In its revision of the national accounts system in 2005, the German Federal Statistical Office switched its calculation of real gross domestic product from the fixed price basis to the previous year’s price basis. A central problem of this volume measurement is the non-additivity of the results. Special paths must therefore be taken to determine aggregates and growth contributions. This article recapitulates the key calculation rules and looks at methodical further developments.

Suggested Citation

  • Wolfgang Nierhaus, 2016. "Previous Year’s Prices: Aggregation and Growth Contributions," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(11), pages 39-45, June.
    • Handle: RePEc:ces:ifosdt:v:69:y:2016:i:11:p:39-45
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    File URL: https://www.ifo.de/DocDL/sd-2016-11-nierhaus_aggregation-vorjahrespreisniveau-2016-06-09.pdf
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    References listed on IDEAS

    as
    1. Marcus Cobb, 2013. "Industry Contributions to GDP Quarterly Growth," Economic Statistics Series 100, Central Bank of Chile.
    2. Cobb, Marcus, 2014. "Explaining GDP Quarterly Growth from its Components in the Context of the Annual Overlap Method: A Comparison of Approaches," MPRA Paper 58022, University Library of Munich, Germany.
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    Cited by:

    1. Franziska Fobbe & Robert Lehmann, 2016. "Electric Motors, Energy Supply and Education: the Quality of Ifo’s Production-Side Short-Term Forecast," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(12), pages 58-63, June.
    2. Wolfgang Nierhaus, 2020. "Real Value of Gross Domestic Product and Terms of Trade: Results for 2019," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(03), pages 55-57, March.

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    1. Cobb, Marcus, 2014. "Identifying the Sources of Seasonal Effects in an indirectly adjusted Chain-Linked Aggregate: A Framework for the Annual Overlap Method," MPRA Paper 58033, University Library of Munich, Germany.
    2. Marcus Cobb, 2014. "GDP Forecasting Bias due to Aggregation Inaccuracy in a Chain- Linking Framework," Working Papers Central Bank of Chile 721, Central Bank of Chile.

    More about this item

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

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