Computing Additive Chained Volume Measures of GDP Subaggregates
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 nonadditive CVMs. This paper's additive formulas have significant practical implications given that nonadditivity prevails in all countries that have adopted the CVM framework for GDP and considering that more countries will be adopting this framework.
|Date of creation:||2010|
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Macroeconomics Working Papers
22631, East Asian Bureau of Economic Research.
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