Reconciliation of National Income and Expenditure
Reconciliation of National Income and Expenditure
Martin Weale, National Institute of Economic and Social Research, London
$49.00
USDThis book was first published in 1995. The problem of disparities between different estimates of GDP is well known and widely discussed. Here, the authors describe a method for examining the discrepancies using a technique allocating them with reference to data reliability. The method enhances the reliability of the underlying data and leads to maximum-likelihood estimates. It is illustrated by application to the UK national accounts for the period 1920–1990. The book includes a full set of estimates for this period, including runs of industrial data for the period 1948–1990, which are longer than those available from any other source. The statistical technique allows estimates of standard errors of the data to be calculated and verified; these are presented both for data in levels and for changes in variables over 1-, 2- and 5-year periods.
- Outlines the method for testing reliability of economic data
- Offers lists of long-run economic data
- Includes UK industrial data 1948–1990, longer than from any other source
Reviews & endorsements
"This book is number seven in the distinguished series Studies in the National Income and Expenditure of the United Kingdom, founded by the late Sir Richard Stone. Fortunately, the authors have maintained the high standards of their illustrious predecessors." Journal of Economic History
Product details
October 2009Paperback
9780521120074
344 pages
229 × 152 × 20 mm
0.51kg
Available
Table of Contents
- Part I. The Theory of Data Reconciliation:
- 1. The reconciliation of national accounts
- 2. Basic issues in data reconciliation
- 3. Reconciliation without knowledge of data reliabilities
- Part II. Application to UK National Accounts:
- 4. Patterns of autocorrelation
- 5. The data and their reliability, 1920–48
- 6. The data and their reliability, 1948–90
- 7. Sectoral income/expenditure and capital accounts
- 8. The results of the balancing exercise
- Part III. Balanced National Accounts for the United Kingdom:
- 1920–1990
- Bibliography
- Index.
