USE AND MISUSE OF NATIONAL ACCOUNTS FROM A MODELING PERSPECTIVE

Josef Richter

Review of Income and Wealth, 1994, vol. 40, issue 1, 99-110

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.

Date: 1994
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