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National Accounts Of Robinson ́s Economy


  • Vaclav Rybacek

    (PhD student at the University of Economics in Prague)


The system of national accounts provides data for economic analysis, especially analysis of business cycle. While properties of time series are continually under discussion, much less formation and predicative ability of the aggregates. Aim of this paper is to contribute to activation of this discussion, to draw the attention on possible weak points in the relationship between the national accounts system and business cycle. These points refer to key concepts of the system of national accounts as a value-added approach, production-borders, recording of capital goods, disposable income definition, definition of savings or the strong concentration on the consumption. In the paper, we use the model of the economy of Robinson Crusoe that enable us to record the effects of economic activity from the very beginning and to show the effects of this activity on the aggregates of the national accounts system.

Suggested Citation

  • Vaclav Rybacek, 2010. "National Accounts Of Robinson ́s Economy," Romanian Economic Business Review, Romanian-American University, vol. 5(3), pages 63-78, September.
  • Handle: RePEc:rau:journl:v:5:y:2010:i:3:p:63-78

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    References listed on IDEAS

    1. Roberto Frenkel & Martin Rapetti, 2009. "A developing country view of the current global crisis: what should not be forgotten and what should be done," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 685-702, July.
    2. Gabor Hunya & Monika Schwarzhappel, 2008. "Decline to Follow Uneven FDI Inflow Growth," wiiw FDI Reports 2008-06, The Vienna Institute for International Economic Studies, wiiw.
    3. Jesmin Rahman, 2008. "Current Account Developments in New Member States of the European Union; Equilibrium, Excess, and EU-Phoria," IMF Working Papers 08/92, International Monetary Fund.
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