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Computing Additive Chained Volume Measures of GDP Subaggregates

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  • Jesus C. Dumagan

    (Philippine Institute for Development Studies)

Abstract

This paper derives formulas for additive chained volume measures (CVMs) of GDP subaggregates depending on the underlying GDP quantity index. In turn, this paper explains why the formulas used in current practice yield non-additive CVMs. This papers additive formulas have significant practical implications given that non-additivity prevails in all countries that have adopted the CVM framework for GDP and considering that more countries will be adopting this framework.

Suggested Citation

  • Jesus C. Dumagan, 2010. "Computing Additive Chained Volume Measures of GDP Subaggregates," Macroeconomics Working Papers 23094, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:macroe:23094
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    References listed on IDEAS

    as
    1. Balk, Bert M., 2004. "Decompositions of Fisher indexes," Economics Letters, Elsevier, vol. 82(1), pages 107-113, January.
    2. Whelan, Karl, 2002. "A Guide to U.S. Chain Aggregated NIPA Data," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(2), pages 217-233, June.
    3. Jesus C. Dumagan, 2008. "Implementing US GDP in Chained Prices for Cross-country GDP Growth and Sectoral Comparisons : Application to Selected ASEAN Countries," Macroeconomics Working Papers 22631, East Asian Bureau of Economic Research.
    4. Joe Robjohns, 2007. "Methods explained: Contributions to growth rates under annual chain-linking," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 1(6), pages 53-56, June.
    5. Dumagan, Jesus C., 2008. "Avoiding Anomalies of GDP in Constant Prices by Conversion to Chained Prices: Accentuating Shifts in Philippine Economic Transformation," Discussion Papers DP 2008-24, Philippine Institute for Development Studies.
    6. Diewert, W Erwin, 1978. "Superlative Index Numbers and Consistency in Aggregation," Econometrica, Econometric Society, vol. 46(4), pages 883-900, July.
    7. Dumagan, Jesus C., 2002. "Comparing the superlative Tornqvist and Fisher ideal indexes," Economics Letters, Elsevier, vol. 76(2), pages 251-258, July.
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    Cited by:

    1. Dumagan, Jesus C., 2011. "Deriving Weights for Additivity of Chained Volume Measures in the National Accounts," Discussion Papers DP 2011-08, Philippine Institute for Development Studies.
    2. Dumagan, Jesus C., 2011. "Implementing Weights for Additivity of Chained Volume Measures in the National Accounts," Discussion Papers DP 2011-09, Philippine Institute for Development Studies.

    More about this item

    Keywords

    Chained indexes; chained volume measure; additivity;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

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