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Correctly Measuring Real Value Added

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  • Shirley Cassing

Abstract

This paper examines issues involved in calculating a value added index in order to measure real value added at the industry level. Three methods of calculating real value added are considered; the Laspeyres double‐deflation method recommended by the United Nations System of Nation Accounts, the commonly used single‐deflation method, and the double‐deflation Divisia method. Actual data are employed to clarify and illustrate the issues involved, and the paper concludes with a recommendation for an appropriate index to use when calculating industry real value added.

Suggested Citation

  • Shirley Cassing, 1996. "Correctly Measuring Real Value Added," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(2), pages 195-206, June.
    • Handle: RePEc:bla:revinw:v:42:y:1996:i:2:p:195-206
    DOI: 10.1111/j.1475-4991.1996.tb00166.x
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    Cited by:

    1. Gianluigi Nocella, 2015. "Competitività e distribuzione funzionale nell'Eurozona," a/ Working Papers Series 1504, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    2. Mitra, Aruni, 2024. "The productivity puzzle and the decline of unions," Journal of Economic Dynamics and Control, Elsevier, vol. 159(C).
    3. de Mey, Yann & Vancauteren, Mark & Van Passel, Steven, 2011. "Input-output Concepts, Profits and Productivity Growth: An Application Using Flemish Farm Level Data," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114448, European Association of Agricultural Economists.
    4. Prados de la Escosura, Leandro, 2014. "Mismeasuring long run growth : the bias from spliced national accounts," IFCS - Working Papers in Economic History.WH wp14-04, Universidad Carlos III de Madrid. Instituto Figuerola.
    5. Sathre, Roger & Gustavsson, Leif, 2009. "Process-based analysis of added value in forest product industries," Forest Policy and Economics, Elsevier, vol. 11(1), pages 65-75, January.
    6. Lai, Pingyao & Zhu, Tian, 2022. "Deflating China's nominal GDP: 2004–2018," China Economic Review, Elsevier, vol. 71(C).
    7. Lavan Mahadeva & Javier Gómez Pineda, 2009. "The international cycle and Colombian monetary policy," Borradores de Economia 5406, Banco de la Republica.

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