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Price and Volume Measures in the System of National Accounts

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  • W. Erwin Diewert

Abstract

The paper is an extensive review of chapter 16 in the System of National Accounts, 1993 written by Peter Hill. The basic principles for measuring price and quantity change in the National Accounts are explained. The paper also presents some new material on the consistency of superlative indexes with indexes which are additive in their components. Some new material on the treatment of quality change is also presented which indicates that traditional Statistical Agency treatments of this issue will lead to upward bias in price indexes. The literature on sources of bias in consumer price indexes is also reviewed.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5103.

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Date of creation: May 1995
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Publication status: published as Kendrick, John W. (ed.) The new system of national accounts, Recent Economic Thought Series. Boston; Dordrecht and London: Kluwer Academic, 1996.
Handle: RePEc:nbr:nberwo:5103

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Cited by:
  1. Robert J. Gordon, 1996. "Problems in the Measurement and Performance of Service-Sector Productivity in the United States," NBER Working Papers 5519, National Bureau of Economic Research, Inc.
  2. Barbara M. Fraumeni & Marshall B. Reinsdorf & Brooks B. Robinson & Matthew P. Williams, 2008. "Price and Real Output Measures for the Education Function of Government: Exploratory Estimates for Primary & Secondary Education," NBER Working Papers 14099, National Bureau of Economic Research, Inc.
  3. Barbara M. Fraumeni & Marshall B. Reinsdorf & Brooks B. Robinson & Matthew P. Williams, 2009. "Price and Real Output Measures for the Education Function of Government: Exploratory Estimates for Primary and Secondary Education," NBER Chapters, in: Price Index Concepts and Measurement, pages 373-403 National Bureau of Economic Research, Inc.
  4. Sultan, Muyed, 2008. "The Tertiary Sector Is Going to Dominate the World Economy; Should We Worry?," MPRA Paper 14681, University Library of Munich, Germany.
  5. Ariel Coremberg, 2008. "The Measurement of TFP in Argentina, 1990-2004: A Case of the Tyranny of Numbers, Economic Cycles and Methodology," International Productivity Monitor, Centre for the Study of Living Standards, Centre for the Study of Living Standards, vol. 17, pages 52-74, Fall.

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