Values, Volumes, and Price-Volume Decompositions: On Some Issues Raised (Again) by the Health Crisis

Didier Blanchet and Marc Fleurbaey

Post-Print from HAL

Abstract: The health crisis has underscored the need for national accounts that can track the activity and financial situations of various groups of economic agents as quickly as possible. It also raises several questions about how real GDP aggregates quantities of heterogenous goods and services that meet very different needs whose relative priorities have been affected by the crisis, at least temporarily. We focus on two aspects of this question: the theoretical properties of aggregation by chaining at market prices for the market share of GDP and the joint problems of measurement and significance of the aggregate for its non-market components. Beyond the short-term shock, the crisis provides an opportunity to revisit some substantive issues regarding the interpretation of output and real growth indicators, issues that the post-crisis period should continue to fuel.

Keywords: National accounts; GDP; Production and income; Aggregation; Volume and price components; Chain indices (search for similar items in EconPapers)
Date: 2022
Note: View the original document on HAL open archive server: https://hal.science/hal-03907594v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Economie et Statistique / Economics and Statistics, 2022, 532-533, pp.71-88. ⟨10.24187/ecostat.2022.532.2072⟩

Downloads: (external link)
https://hal.science/hal-03907594v1/document (application/pdf)

Related works:
Journal Article: Values, Volumes, and Price-Volume Decompositions: On Some Issues Raised (Again) by the Health Crisis (2022)
Working Paper: Values, Volumes, and Price-Volume Decompositions: On Some Issues Raised (Again) by the Health Crisis (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03907594

DOI: 10.24187/ecostat.2022.532.2072

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().