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Commodity Balances And National Accounts: A Sam Perspective

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  • Graham Pyatt

Abstract

This paper is concerned with the treatment of commodity and activity balances in a national accounts context. It makes use of a general method for reducing the size of a social accounting matrix (SAM) by apportioning the elements of one or more accounts to the rest. The national accounts are looked at in terms of their usefulness for policy analysis, not least analysis of the impact of price changes. The SNA convention of separately distinguishing activities and commodities is endorsed. However, in contrast to the SNA, it is argued that for analytic purposes commodity transactions should be recorded at market prices, with a separate account for each of the markets for a given commodity in which a distinct price prevails. The SNA SAM is shown to be a reduced form of the SAM resulting from this recommended treatment of commodity transactions, while a further round of reductions (apportionments) yields SAMs which are familiar from input‐output analysis, in which activities and commodities are not separately distinguished. It is argued that no special effort would be required to produce SAMs in which commodity balances are recorded at market prices as recommended here (the necessary data are also required to produce the conventional SNA tableaux), and that all reduced form versions of such SAMs, including the SNA, are inferior as a basis for the analysis of price effects on the structure of production.

Suggested Citation

  • Graham Pyatt, 1985. "Commodity Balances And National Accounts: A Sam Perspective," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 31(2), pages 155-169, June.
    • Handle: RePEc:bla:revinw:v:31:y:1985:i:2:p:155-169
    DOI: 10.1111/j.1475-4991.1985.tb00505.x
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    Cited by:

    1. Manuel Alejandro Cardenete & Ferran Sancho, 2012. "The Role Of Supply Constraints In Multiplier Analysis," Economic Systems Research, Taylor & Francis Journals, vol. 24(1), pages 21-34, June.
    2. Zafar Iqbal & Rizwana Siddiqui, 1999. "Distributional Impact of Structural Adjustment on Income Inequality in Pakistan: A SAM-based Analysis," MIMAP Technical Paper Series 1999:02, Pakistan Institute of Development Economics.
    3. Hanson, Kenneth A. & Robinson, Sherman, 1989. "Data, Linkages, And Models: U.S. National Income And Product Accounts In The Framework Of A Social Accounting Matrix," Staff Reports 278155, United States Department of Agriculture, Economic Research Service.
    4. M. Alejandro Cardenete & M. Carmen Lima & Ferran Sancho, 2013. "Are There Key Sectors? An Appraisal Using Applied General Equilibrium," The Review of Regional Studies, Southern Regional Science Association, vol. 43(2,3), pages 111-129, Winter.
    5. Zafar Iqbal & Rizwana Siddiqui, 1998. "The Impact of Structural Adjustment on Income Distribution in Pakistan A SAM-based Analysis," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 37(4), pages 377-397.
    6. Finn Tarp & David Roland-Holst & John Rand, 2002. "Trade and Income Growth in Vietnam: Estimates from a New Social Accounting Matrix," Economic Systems Research, Taylor & Francis Journals, vol. 14(2), pages 157-184, June.
    7. Javier Ferri & Ezequiel Uriel, 2000. "Multiplicadores contables y análisis estructural en la matriz de contabilidad social. Una aplicación al caso español," Investigaciones Economicas, Fundación SEPI, vol. 24(2), pages 419-453, May.
    8. Rizwana Siddiqui & Zafar Iqbal, 1999. "Social Accounting Matrix of Pakistan for 1989-90," PIDE-Working Papers 1999:171, Pakistan Institute of Development Economics.
    9. De Miguel Vélez, F.J. & Manresa Sánchez, A., 2004. "Modelos SAM lineales y distribución de renta: una aplicación para la economía extremeña," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 22, pages 1-22, Diciembre.
    10. Ezequiel Uriel & Javier Ferri & Maria Luisa Molto, 2005. "Estimation of an Extended SAM with household production for Spain 1995," Economic Systems Research, Taylor & Francis Journals, vol. 17(3), pages 255-278.
    11. Tarp, Finn & Roland-Holst, David, 2002. "Household Income Determination in Vietnam: A Structural Analysis with Implications for Market Reform," MPRA Paper 29416, University Library of Munich, Germany.
    12. Santos, Susana, 2011. "Measuring (socio-)economic systems using the SNA. A SAM approach," MPRA Paper 32758, University Library of Munich, Germany.
    13. Rizwana Siddiqui & Zafar Iqbal, 1999. "Salient Features of Social Accounting Matrix of Pakistan for 1989-90: Disaggregation of the Households Sector," MIMAP Technical Paper Series 1999:01, Pakistan Institute of Development Economics.
    14. Masaru Ichihashi & Shinji Kaneko, 2011. "Impact Analysis of Changes in The Price of Water Resources in China and Beijing," IDEC DP2 Series 1-5, Hiroshima University, Graduate School for International Development and Cooperation (IDEC).
    15. Alejandro CARDENETE & Patricia FUENTES SAGUAR & Clemente POLO, 2008. "Energy System and CO2 emissions: a SAM Analysis," EcoMod2008 23800022, EcoMod.
    16. Herve Guyomard & Nadine Herrard & Thierry Trochet & Yves Dronne & Alexandre Gohin & Yves Léon & Elisabeth Samson & Yves Surry, 1996. "La matrice de comptabilité sociale française du modèle MEGAAF et de la maquette MEGALEX," Working Papers hal-01594992, HAL.
    17. Cardenete Flores, M.A. & Congregado Ramírez De Aguilera, E. & De Miguel Vélez, F.J. & Pérez Mayo, J., 2000. "Una comparación de las economías andaluza y extremeña a partir de matrices de contabilidad social y multiplicadores lineales," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 15, pages 47-73, Agosto.
    18. Wiese, Arthur M., 1995. "On the construction of the total accounts from the U.S. national income and product accounts: How sensitive are applied general equilibrium results to initial conditions?," Journal of Policy Modeling, Elsevier, vol. 17(2), pages 139-162, April.
    19. Juan Carlos Collado & Ferran Sancho, 2002. "Recovering Hidden Indirect Tax Rates for Improved Calibration in Multisectoral Modelling," Economic Systems Research, Taylor & Francis Journals, vol. 14(1), pages 81-88.
    20. Wiese, Arthur M., 1994. "Contructing Data for Use in Applied General Equilibrium Models from the U.S. National Income and Product Accounts: An ERS Data Base," Staff Reports 278749, United States Department of Agriculture, Economic Research Service.

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