IS THE SIZE OF GOVERNMENT UNDERESTIMATED? ON THE TREATMENT OF MARKET IN MACROECONOMIC STATISTICS

Vaclav Rybacek ()
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Vaclav Rybacek: Jan Evangelista Purkyne University in Usti nad Labem, Czech Republic

Romanian Economic Business Review, 2016, vol. 11, issue 4, 85-90

Abstract: Statistical measurement of government has become one of the main challenges for statisticians as the extent of government interventionism has been extending over last decades. Higgs has dealt with some aspects of how the size of government is commonly expressed (Higgs,1991; Higgs, 2015). Aim of this paper is to add some relevant facts of the methodological nature leading to the underestimation of government in official statistics. We consider this issue essential even though rather ignored in the mainstream literature. As it is illustrated in the text, the size of government tends to be underestimated in the macroeconomic statistics due a number of issues -the immeasurability of several interventions, lacking information and the inappropriate treatment of market mechanism in the currently methodology.

Keywords: the size of government; national accounts; market mechanism (search for similar items in EconPapers)
Date: 2016
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