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Use And Misuse Of National Accounts From A Modeling Perspective

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  • Josef Richter

Abstract

National accounts aggregates are not only abused as welfare indicators, there is also a considerable misuse in economic analysis and in modeling. Characteristics of national accounts‐such as consistency, homogeneity and comprehensiveness‐may turn into major disadvantages in the case of improper use. The main sources of misuse are the confusion of concepts, inadequate statistical units, the role of aggregation and what might be called “modeling on the basis of the results of modeling.” A plea is made for different data sets for different analytical purposes, for separate treatment of descriptive data, analytical data and modeling results, correct labeling and for a more open information strategy.

Suggested Citation

  • Josef Richter, 1994. "Use And Misuse Of National Accounts From A Modeling Perspective," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 40(1), pages 99-110, March.
    • Handle: RePEc:bla:revinw:v:40:y:1994:i:1:p:99-110
    DOI: 10.1111/j.1475-4991.1994.tb00047.x
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    Cited by:

    1. Bos, Frits, 1996. "The future of the national accounts," MPRA Paper 5956, University Library of Munich, Germany.
    2. Bos, Frits, 1995. "Economic theory and national accounting," MPRA Paper 5955, University Library of Munich, Germany.
    3. Bos, Frits, 2011. "Three centuries of macro-economic statistics," MPRA Paper 35391, University Library of Munich, Germany.
    4. Bos, Frits, 2009. "The National Accounts as a Tool for Analysis and Policy; History, Economic Theory and Data Compilation Issues," MPRA Paper 23582, University Library of Munich, Germany.

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