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

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The problem of disparities among 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 book includes a full set of estimates for the UK national accounts for the period 1920-1990, including runs of industrial data for the period 1948-1990. The statistical technique allows estimates of standard errors of the data to be calculated and verified.

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Editorial Reviews

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"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
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Product Details

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.

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