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Economic growth in the system of national accounts: the introduction of the previous-year price base in the German statistics

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  • Wolfgang Nierhaus

Abstract

Up to now the real gross domestic product (GDP) has been listed in constant prices (fixed-price base) in the German national accounts (VGR). Both the 1993 revision of the System of National Accounts (SNA) of the United Nations as well as the European system of national accounts (ESVG 1995) recommends the use of an up-to-date price structure for the calculation of the annual volume change of GDP and its components (previous year price base). For the next pending national-accounts revision, which is to be published in April 2005, the previous-year price base will be introduced into the German statistics. This article discusses the two methods of calculating economic growth

Suggested Citation

  • Wolfgang Nierhaus, 2004. "Economic growth in the system of national accounts: the introduction of the previous-year price base in the German statistics," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(05), pages 28-34, March.
    • Handle: RePEc:ces:ifosdt:v:57:y:2004:i:05:p:28-34
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    1. Wolfgang Nierhaus, 2001. "Economic growth in national accounting: a comparison between Germany and the U.S," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(03), pages 41-51, March.
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    1. Wolfgang Nierhaus, 2005. "Previous-year price basis: Calculating rules for aggregation," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(22), pages 12-16, November.
    2. Thomas Strobel & Stefan Sauer & Klaus Wohlrabe, 2013. "Analysing the Structure of German Investments – The Ifo Investment Database," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(01), pages 64-68, May.
    3. Wolfgang Nierhaus, 2014. "Real value of GDP: Purchasing Power Plus Through Terms-of-Trade Profits," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(14), pages 27-30, July.
    4. Wolfgang Nierhaus, 2016. "Quarterly Real Value of GDP: Latest Results," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(15), pages 34-37, August.
    5. Quaas, Georg, 2008. "Das Problem der Spezifikation einer Konsumfunktion im Rahmen der VGR 2005 [The specification problem of the consumption function in the framework of the NIA-system 2005]," MPRA Paper 18497, University Library of Munich, Germany, revised 09 Nov 2009.
    6. Thomas Strobel & Stefan Sauer & Klaus Wohlrabe, 2013. "The Ifo Investment Database," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 133(3), pages 449-460.
    7. Klaus Abberger & Gebhard Flaig & Wolfgang Nierhaus, 2007. "ifo Konjunkturumfragen und Konjunkturanalyse : ausgewählte methodische Aufsätze aus dem ifo Schnelldienst," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 33.
    8. Quaas, Georg, 2009. "Die Umsetzung der Annual-Overlap-Methode in ökonometrischen Modellen – eine Analyse der programmtechnischen Möglichkeiten von E-Views [The implementation of the annual-overlap method in econometric," MPRA Paper 19435, University Library of Munich, Germany.
    9. Wolfgang Nierhaus, 2004. "Zur Einführung der Vorjahrespreisbasis in der deutschen Statistik: Besonderheiten der Quartalsrechnung," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(15), pages 14-21, August.
    10. Wolfgang Nierhaus, 2006. "Aggregate production and price level: Volume calculations in comparison," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 59(14), pages 13-18, July.
    11. Michael Flor, 2014. "Post Reunification Economic Fluctuations in Germany: A Real Business Cycle Interpretation," Working Papers 146, Bavarian Graduate Program in Economics (BGPE).
    12. Thomas Strobel & Stefan Sauer & Klaus Wohlrabe, 2013. "Analysing the Structure of German Investments – The Ifo Investment Database," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(1), pages 64-68, May.
    13. Wolfgang Nierhaus, 2005. "Previous year price basis and chain linking in the National Accounts: the most important features of the new volume calculation," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(15), pages 29-35, August.
    14. Wolfgang Nierhaus, 2007. "Vierteljährliche volkswirtschaftliche Gesamtrechnungen für Sachsen mit Hilfe temporaler Disaggregation," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(04), pages .24-36, August.
    15. Wolf-Dietmar Speich, 2006. "Revision 2005 in den regionalen Gesamtrechnungen," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 13(02), pages .33-41, April.
    16. Wolfgang Nierhaus, 2006. "On aggregate price developments," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 59(03), pages 28-31, February.
    17. Wolfgang Nierhaus, 2008. "Price-adjusted GDP and the practice followed by the Institutes in the Joint Economic Analysis," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 61(09), pages 15-18, May.
    18. Wolf-Dietmar Speich, 2006. "Revision 2005 in den regionalen Gesamtrechnungen," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 13(02), pages 33-41, 04.
    19. Quaas, Georg, 2009. "Realgrößen und Preisindizes im alten und im neuen VGR-System [Macro-economic aggregates in real terms and price indices in the old and the new system of national accounts]," MPRA Paper 22316, University Library of Munich, Germany, revised 25 Apr 2010.
    20. Wolfgang Nierhaus & Timo Wollmershäuser, 2016. "ifo Konjunkturumfragen und Konjunkturanalyse: Band II," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 72.
    21. Thomas Strobel & Stefan Sauer & Klaus Wohlrabe, 2013. "Ifo Investment Database: a Tool for Analysing Investment Structures in Germany," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 66(06), pages 29-33, March.
    22. Wolfgang Nierhaus, 2005. "The introduction of the previous-year price basis in German National Accounts: Consequences for business-cycle analysis," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 58(05), pages 19-27, March.
    23. Wolfgang Nierhaus, 2007. "Vierteljährliche volkswirtschaftliche Gesamtrechnungen für Sachsen mit Hilfe temporaler Disaggregation," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(04), pages 24-36, 08.

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    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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