COMPILATION OF NATIONAL ACCOUNTS IN HIGH INFLATION COUNTRIES

Michel SSéaruzier

Review of Income and Wealth, 1989, vol. 35, issue 1, 81-102

Abstract: Due to inflation, the level of flows of funds is changing over time. Nevertheless, National Accounts aggregate flows annually. High inflation rates create additional difficulties in elaborating constant price accounts as well as current price accounts. Furthermore, one can notice that the accounts themselves partly lose their meaning: deformation of technical coefficients, lack of share between real interests and reimbursement of the debt, change of scale, within a single aggregate, of the flows that compose it. In that inflation context, the national accounts could be interpreted again if it could be possible to reprocess the evaluations: infra‐annual constant price accounts, and above all, “calibrated accounts” are proposed in the course of this paper. The author ends with a description of a simple method to elaborate those “calibrated accounts.”

Date: 1989
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