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Real Income and Terms of Trade

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  • Wolfgang Nierhaus

Abstract

Since the general revision of Germany’s national public accounts in 1999, the German Federal Statistical Office has calculated real gross domestic product alongside the price-adjusted figure, or the purchasing power of income generated by the economic process. The disclosure of this variable, one of the key indicators of an economy, closed a major data gap in Germany’s public national accounts. This article throws light on the methods used to calculate and present current results.

Suggested Citation

  • Wolfgang Nierhaus, 2013. "Real Income and Terms of Trade," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 66(16), pages 31-34, August.
    • Handle: RePEc:ces:ifosdt:v:66:y:2013:i:16:p:31-34
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    File URL: https://www.ifo.de/DocDL/ifosd_2013_16_3.pdf
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    References listed on IDEAS

    as
    1. Kohli, Ulrich, 2004. "Real GDP, real domestic income, and terms-of-trade changes," Journal of International Economics, Elsevier, vol. 62(1), pages 83-106, January.
    2. Wolfgang Nierhaus, 2000. "Real income in the new European System of Accounts," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 53(04), pages 07-13, February.
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    Cited by:

    1. 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.
    2. Wolfgang Nierhaus, 2014. "Real Value of Gross Domestic Product: Latest Results," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(03), pages 52-55, February.

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    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F30 - International Economics - - International Finance - - - General
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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