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Industry Contributions to GDP Quarterly Growth


  • Marcus Cobb


The use of chain-linked methods reduces significantly the problem of price structure obsolescence present in fixed base environments. However, price updating introduces a new dimension that may produce confusion if not accounted for. Probably the most notorious difficulty generated by the introduction of chain-linked indices has been that an aggregate is not the direct sum of its components, therefore, making it harder to explain its behaviour. This document develops a framework to understand, from the industry perspective, the elements that affect the behaviour of an aggregate obtained using the annual overlap chain-linking method. In the process, an exact expression for the industry contribution to the quarterly GDP growth is presented that is consistent with the annual contribution and that only requires the real quarterly figures and the nominal annual values.

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  • Marcus Cobb, 2013. "Industry Contributions to GDP Quarterly Growth," Economic Statistics Series 100, Central Bank of Chile.
  • Handle: RePEc:chb:bcchee:100

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    References listed on IDEAS

    1. Carmen Gloria Escobar & Marcelo Méndez, 2007. "Efecto de la Sustitución de Combustibles en el Valor Agregado de la Generación Eléctrica," Economic Statistics Series 61, Central Bank of Chile.
    2. Simón Guerrero & René Luengo & María Pilar Pozo & Sebastián Rébora, 2012. "Nuevas series de Cuentas Nacionales encadenadas: Métodos y fuentes de estimación," Economic Statistics Series 90, Central Bank of Chile.
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    Cited by:

    1. Wolfgang Nierhaus, 2016. "Vorjahrespreisbasis: Aggregation und Wachstumsbeiträge," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(11), pages 39-45, June.
    2. Marcus Cobb, 2014. "GDP Forecasting Bias due to Aggregation Inaccuracy in a Chain- Linking Framework," Working Papers Central Bank of Chile 721, Central Bank of Chile.

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