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Real Value of Gross Domestic Product and Terms of Trade: Results for 2019

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  • Wolfgang Nierhaus

Abstract

In addition to the price-adjusted gross domestic product, the German Federal Statistical Office also publishes the real value of the gross domestic product. The two key indicators differ in their terms-of-trade effect. Accordingly, the German economy has been able to record gains in purchasing power for 2019 due to improved terms of trade; real incomes have increased more strongly than is reflected in the rise in overall economic production.

Suggested Citation

  • Wolfgang Nierhaus, 2020. "Real Value of Gross Domestic Product and Terms of Trade: Results for 2019," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(03), pages 55-57, March.
    • Handle: RePEc:ces:ifosdt:v:73:y:2020:i:03:p:55-57
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    References listed on IDEAS

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    1. Wolfgang Nierhaus, 2019. "Real value of gross domestic product and terms of trade: methodology and results for 2018," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(04), pages 44-52, February.
    2. Wolfgang Nierhaus, 2016. "Previous Year’s Prices: Aggregation and Growth Contributions," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(11), pages 39-45, June.
    3. Klaus Abberger & Wolfgang Nierhaus, 2018. "Terms of Trade and Trading Gain in Germany and Switzerland: A Country Comparison," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(06), pages 38-42, March.
    4. Gutmann, Pierre, 1981. "The Measurement of Terms of Trade Effects," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(4), pages 433-453, December.
    5. 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.
    6. Pierre Gutmann, 1981. "The Measurement Of Terms Of Trade Effects," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(4), pages 433-453, December.
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    Cited by:

    1. Wolfgang Nierhaus, 2021. "Real Value of Gross Domestic Product and Terms of Trade: Results for 2020," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(02), pages 55-60, February.

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    More about this item

    Keywords

    Bruttoinlandsprodukt; Terms of Trade; VGR;
    All these keywords.

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • F30 - International Economics - - International Finance - - - General
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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