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Computing Additive Chained Volume Measures of GDP Subaggregates

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  • Dumagan, Jesus C.

Abstract

This paper derives formulas for additive "chained volume measures" (CVMs) of GDP subaggregates depending on the underlying GDP quantity index. In turn, this paper explains why the formulas used in current practice yield nonadditive CVMs. This paper's additive formulas have significant practical implications given that nonadditivity prevails in all countries that have adopted the CVM framework for GDP and considering that more countries will be adopting this framework.

Suggested Citation

  • Dumagan, Jesus C., 2010. "Computing Additive Chained Volume Measures of GDP Subaggregates," Discussion Papers DP 2010-16, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2010-16
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    References listed on IDEAS

    as
    1. Whelan, Karl, 2002. "A Guide to U.S. Chain Aggregated NIPA Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(2), pages 217-233, June.
    2. Balk,Bert M., 2012. "Price and Quantity Index Numbers," Cambridge Books, Cambridge University Press, number 9781107404960.
    3. Jesus C. Dumagan, 2008. "Avoiding Anomalies of GDP in Constant Prices by Conversion to Chained Prices," Macroeconomics Working Papers 22632, East Asian Bureau of Economic Research.
    4. Dumagan, Jesus C., 2008. "Avoiding Anomalies of GDP in Constant Prices by Conversion to Chained Prices: Accentuating Shifts in Philippine Economic Transformation," Discussion Papers DP 2008-24, Philippine Institute for Development Studies.
    5. Diewert, W Erwin, 1978. "Superlative Index Numbers and Consistency in Aggregation," Econometrica, Econometric Society, vol. 46(4), pages 883-900, July.
    6. Balk, Bert M., 2004. "Decompositions of Fisher indexes," Economics Letters, Elsevier, vol. 82(1), pages 107-113, January.
    7. Dumagan, Jesus C., 2008. "Implementing US GDP in Chained Prices for Cross-country GDP Growth and Sectoral Comparisons: Application to Selected ASEAN Countries," Discussion Papers DP 2008-28, Philippine Institute for Development Studies.
    8. Karl Whelan, 2002. "A Guide To U.S. Chain Aggregated Nipa Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(2), pages 217-233, June.
    9. Dumagan, Jesus C., 2002. "Comparing the superlative Tornqvist and Fisher ideal indexes," Economics Letters, Elsevier, vol. 76(2), pages 251-258, July.
    10. Joe Robjohns, 2007. "Methods explained: Contributions to growth rates under annual chain-linking," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 1(6), pages 53-56, June.
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    Cited by:

    1. Dumagan, Jesus C., 2011. "Deriving Weights for Additivity of Chained Volume Measures in the National Accounts," Discussion Papers DP 2011-08, Philippine Institute for Development Studies.
    2. Dumagan, Jesus C., 2011. "Implementing Weights for Additivity of Chained Volume Measures in the National Accounts," Discussion Papers DP 2011-09, Philippine Institute for Development Studies.

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    More about this item

    Keywords

    chained index; additivity; chained volume measure;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

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