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Reconciliation of National Income and Expenditure : Balanced Estimates of National Income for the United Kingdom, 1920-1990 - James Sefton

Reconciliation of National Income and Expenditure

Balanced Estimates of National Income for the United Kingdom, 1920-1990

Hardcover Published: 23rd February 1996
ISBN: 9780521496353
Number Of Pages: 344

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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. A disk with the dataset in machine readable form is available separately.

Industry Reviews

"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

The Theory of Data Reconciliation
The reconciliation of national accounts
Basic issues in data reconciliation
Reconciliation without knowledge of data reliabilities
Application to UK National Accounts
Patterns of autocorrelation
The data and their reliability, 1920-48
The data and their reliability, 1948-90
Sectoral income/expenditure and capital accounts
The results of the balancing exercise
Balanced Nationali Accounts for the United Kingdom: 1920-1990
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521496353
ISBN-10: 0521496357
Series: Studies in the National Income & Expenditure of the United Kingdom
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 344
Published: 23rd February 1996
Country of Publication: GB
Dimensions (cm): 23.5 x 15.8  x 2.46
Weight (kg): 0.64