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Integrating Expenditure and Income Data: What to do with the Statistical Discrepancy?

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Author Info
J. Joseph Beaulieu () (Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington)
Eric J. Bartelsman () (Faculty of Economics and Business Administration, Vrije Universiteit Amsterdam)

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Abstract

The purpose of this paper is to build consistent, integrated datasets to investigate whether various disaggregated data can shed light on the possible sources of the statistical discrepancy. Our strategy is first to use disaggregated data to estimate consistent sets of input-output models that sum to either GDP or GDI and compare the two in order to see where the discrepancy resides. We find a few “problem” industries that appear to explain most of the statistical discrepancy. Second, we explore what combination of the expenditure data and the income data seem to produce the most sensible data according to a few economic criteria. A mixture of data that do not aggregate either to GDP or to GDI appears optimal.

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Publisher Info
Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 04-078/3.

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Date of creation: 12 Jul 2004
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Handle: RePEc:dgr:uvatin:20040078

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Web page: http://www.tinbergen.nl/

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Related research
Keywords: industry data input-output national accounts statistical discrepancy

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Find related papers by JEL classification:
C67 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Input-Output Models
C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Forni, Mario & Reichlin, Lucrezia, 1998. "Let's Get Real: A Factor Analytical Approach to Disaggregated Business Cycle Dynamics," Review of Economic Studies, Blackwell Publishing, vol. 65(3), pages 453-73, July. [Downloadable!] (restricted)
  2. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: US Economic Growth in the Information Age," OECD Economics Department Working Papers 261, OECD Economics Department. [Downloadable!]
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  3. Horvath, Michael, 2000. "Sectoral shocks and aggregate fluctuations," Journal of Monetary Economics, Elsevier, vol. 45(1), pages 69-106, February. [Downloadable!] (restricted)
  4. Eric J. Bartelsman & J. Joseph Beaulieu, 2004. "A consistent accounting of U.S. productivity growth," Finance and Economics Discussion Series 2004-55, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  5. David E. Lebow, 1990. "The covariability of productivity shocks across industries," Working Paper Series / Economic Activity Section 102, Board of Governors of the Federal Reserve System (U.S.).
  6. Sawyer, John A, 1992. "Forecasting with Input-Output Matrices: Are the Coefficients Stationary?," Economic Systems Research, Taylor and Francis Journals, vol. 4(4), pages 325-48.
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