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Dualism of Methodologies in Macroeconomic Statistics and Analysis

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  • A. V. Gotovsky

    (Institute of Economics, National Academy of Sciences of Belarus)

Abstract

— The article considers the evolving methodology for the calculation of the gross domestic product (GDP) as a resulting indicator of the economy. It is shown that the three well-known methods for GDP calculation do not fully describe the economic circulation flow of the state budget, which was originally conditioned by the requirement for carrying out statistical calculation of national income by analogy with the household income/expenditure. Based on input–output tables, by bringing them to the GDP methodology, a calculation was made that makes it possible to visualize feedback from final demand to the generation of value added by domestic enterprises, it is sufficient to simply carry out analytical and forecast calculations of the impact on economic growth, take into account structural changes ignored by generally accepted models, and significantly improve the quality of predictive estimates. As a result, we can claim to deal with the fourth (analytical) method of calculating GDP.

Suggested Citation

  • A. V. Gotovsky, 2022. "Dualism of Methodologies in Macroeconomic Statistics and Analysis," Studies on Russian Economic Development, Springer, vol. 33(6), pages 618-630, December.
    • Handle: RePEc:spr:sorede:v:33:y:2022:i:6:d:10.1134_s1075700722060065
    DOI: 10.1134/S1075700722060065
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    References listed on IDEAS

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    1. Smith, Adam, 1977. "An Inquiry into the Nature and Causes of the Wealth of Nations," University of Chicago Press Economics Books, University of Chicago Press, number 9780226763743 edited by Cannan, Edwin, November.
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    3. E. A. Edinak & A. R. Sayapova & A. A. Shirov, 2022. "Endogenization of Household Consumption in the Expanded Input–Output Model," Studies on Russian Economic Development, Springer, vol. 33(1), pages 1-10, February.
    4. Stone, Richard, 1997. "The Accounts of Society," American Economic Review, American Economic Association, vol. 87(6), pages 17-29, December.
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