A guide to the use of chain aggregated NIPA data

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Title: A guide to the use of chain aggregated NIPA data
Authors: Whelan, Karl
Permanent link: http://hdl.handle.net/10197/253
Date: Jun-2000
Abstract: In 1996, the U.S. Department of Commerce began using a new method to construct all aggregate "real" series in the National Income and Product Accounts (NIPA). This method employs the so-called "ideal chain index" pioneered by Irving Fisher. The new methodology has some extremely important implications that are unfamiliar to many practicing empirical economists; as a result, mistaken calculations with NIPA data have become very common. This paper explains the motivation for the switch to chain aggregation and then illustrates the usage of chain-aggregated data with three topical examples, each relating to a different aspect of how information technologies are changing the economy.
Type of material: Working Paper
Publisher: Federal Reserve
Keywords: NIPA Data;Chain aggregation;Information technologies
Subject LCSH: Information technology--United States
National income--Statistical methods
Chain indexing--United States
DOI: 10.2139/ssrn.239400
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Research Collection

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