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Previous year price basis and chain linking in the National Accounts: the most important features of the new volume calculation

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  • Wolfgang Nierhaus

Abstract

Since the major revision of the National Accounts in 2005, the Federal Statistical Office indicates the development of real GDP and its components on a previous-year-price basis. By means of chain linking, the initially non-comparable, individual annual results are transformed into comparable, long time-series. The change in method was made both for the annual accounts as well as for the quarterly accounts, which are based on the so-called annual-overlap procedure. Through the use of optimally current price structures, subsequent changes in the real development of components of GDP, which occurred in the previous fixed price system during the periodic change of the base year, are avoided. This article gives an overview of the most important features of the new volume calculation.

Suggested Citation

  • 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.
    • Handle: RePEc:ces:ifosdt:v:58:y:2005:i:15:p:29-35
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. repec:ces:ifosdt:v::y:2004:i::p:14-21 is not listed on IDEAS
    4. Wolfgang Nierhaus, 1999. "Aus dem Instrumentenkasten der Konjunkturanalyse : Veränderungen im Vergleich," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 52(27), pages 11-19, October.
    5. 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.
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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. Barabas, György & Döhrn, Roland, 2008. "Kurzfristige Arbeitsmarktanalyse und -projektionen: Weiterentwicklung, Aktualisierung und Anwendungsberatung der Arbeitsmarkt (IAB)-Version des RWI-Konjunkturmodells. IAB-Projekt 2-33-A. Endbericht - ," RWI Projektberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, number 70892.
    3. 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.
    4. Wolfgang Nierhaus, 2009. "Vierteljährliche VGR für Sachsen: Ergebnisse für das erste Quartal 2009," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 16(04), pages 22-27, August.
    5. 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.
    6. 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.
    7. Wolfgang Nierhaus, 2007. "Previous year price basis: Aggregation and linked difference," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 60(06), pages 29-33, March.
    8. 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.

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    More about this item

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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