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Value ``added'': Why consistency in aggregation is essential for global accounting standards, and how to achieve it

Author

Listed:
  • Reich, Utz-Peter

    (Mainz University of Applied Sciences (em.))

Abstract

The paper argues that additive inconsistencies in national accounts may be admissible, and coped with, within the scope of a national economy, and over a short period of time, but they are destructive when carried up to a supranational, or even global level, and over the long run. The paper proves that in contrast to current tenets an additive chain index consistent in aggregation exists, and it demonstrates the theoretical fact by application to actual data from Denmark, and Germany. The theory behind is simple, not mathematics but pure logic: a value added which is not additive is a contradiction, in itself. The paper has been presented to the IARIW-OECD Special Conference on ``The Future of the SNA'' held at Paris, France, on April 16-17, 2015.

Suggested Citation

  • Reich, Utz-Peter, 2016. "Value ``added'': Why consistency in aggregation is essential for global accounting standards, and how to achieve it," Journal of Economic and Social Measurement, IOS Press, issue 3, pages 307-327.
    • Handle: RePEc:ris:iosjes:0060
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    Citations

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    Cited by:

    1. Maciej Grodzicki, 2018. "Prices of Value Added and Competitiveness in Global Value Chains," SPRU Working Paper Series 2018-14, SPRU - Science Policy Research Unit, University of Sussex Business School.

    More about this item

    Keywords

    National accounts; value added; volume measures; consistency; aggregation;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values

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