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Chain-weighting: the new approach to measuring GDP

Author

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  • Charles Steindel

Abstract

Recent dramatic changes in the U.S. economy's structure have compelled BEA to revise the way in which it measures real GDP levels and growth. By switching to a chain-weighted method of computing aggregate growth--which relies heavily on current price information--BEA will be able to measure GDP growth more accurately by eliminating upward biases in the incoming data.

Suggested Citation

  • Charles Steindel, 1995. "Chain-weighting: the new approach to measuring GDP," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 1(Dec).
  • Handle: RePEc:fip:fednci:y:1995:i:dec:n:v.1no.9
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    References listed on IDEAS

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    1. Stephen D. Oliner & Daniel E. Sichel, 1994. "Computers and Output Growth Revisited: How Big Is the Puzzle?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(2), pages 273-334.
    2. Ethan S. Harris & Charles Steindel, 1990. "The decline in U.S. saving and its implications for economic growth," Quarterly Review, Federal Reserve Bank of New York, vol. 15(Win), pages 1-19.
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    Cited by:

    1. Jonathan McCarthy, 2004. "What investment patterns across equipment and industries tell us about the recent investment boom and bust," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 10(May).
    2. Robert Dippelsman & Venkat Josyula & Eric M├ętreau, 2016. "Fixed Base Year vs. Chain Linking in National Accounts; Experience of Sub-Saharan African Countries," IMF Working Papers 16/133, International Monetary Fund.
    3. Joseph H. Haimowitz, 1998. "Has the surge in computer spending fundamentally changed the economy?," Economic Review, Federal Reserve Bank of Kansas City, vol. 83(Q II), pages 27-42.
    4. Charles Steindel, 1997. "Measuring economic activity and economic welfare: what are we missing?," Research Paper 9732, Federal Reserve Bank of New York.
    5. Fix, Blair, 2014. "Rethinking Profit: How Redistribution Drives Growth," Working Papers on Capital as Power 2014/02, Capital As Power - Toward a New Cosmology of Capitalism.

    More about this item

    Keywords

    Gross domestic product;

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