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Real Value of Gross Domestic Product and Terms of Trade: Results for 2020

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  • Wolfgang Nierhaus

Abstract

In addition to price-adjusted GDP, the German Federal Statistical Office also publishes the real value of GDP. The two indicators differ by the terms of trade effect. In 2020, the German economy recorded strong gains in purchasing power due to significantly improved terms of trade, which counteracted the production-related sharp decline in real domestic incomes in the wake of the Covid-19 pandemic.

Suggested Citation

  • 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.
    • Handle: RePEc:ces:ifosdt:v:74:y:2021:i:02:p:55-60
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    References listed on IDEAS

    as
    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. 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.
    3. 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.
    4. von der Lippe, Peter, 2005. "Aggregationseigenschaften (Additivität) von Kettenindizes," EconStor Conference Papers 40926, ZBW - Leibniz Information Centre for Economics.
    5. 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.
    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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