Measure up [electronic resource] : A Better Way to Calculate GDP.
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TextSeries: Staff Discussion NotesPublication details: Washington, D.C. : International Monetary Fund, 2017Description: 1 online resource (19 p.)ISBN: 1475572603 :ISSN: 2221-030XSubject(s): G20 Data Gaps Initiative | GDP At Constant Prices | GDP Deflator | Single And Double Deflation | ChinaAdditional physical formats: Print Version:: Measure up: A Better Way to Calculate GDPOnline resources: IMF e-Library | IMF Book Store Abstract: To derive real GDP, the System of National Accounts 2008 (2008 SNA) recommends a technique called double deflation. Some countries use single deflation techniques, which fail to capture important relative price changes and introduce estimation errors in official GDP growth. We simulate the effects of single deflation to the GDP data of eight countries that use double deflation. We find that errors due to single deflation can be significant, but their magnitude and direction are not systematic over time and across countries. We conclude that countries still using single deflation should move to double deflation.
To derive real GDP, the System of National Accounts 2008 (2008 SNA) recommends a technique called double deflation. Some countries use single deflation techniques, which fail to capture important relative price changes and introduce estimation errors in official GDP growth. We simulate the effects of single deflation to the GDP data of eight countries that use double deflation. We find that errors due to single deflation can be significant, but their magnitude and direction are not systematic over time and across countries. We conclude that countries still using single deflation should move to double deflation.
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