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Understanding National Accounts

Second Edition

image of Understanding National Accounts

This second edition of Understanding National Accounts, that provides a comprehensive explanation of how national accounts are compiled, contains new data and new chapters, and is adapted to the new systems of national accounts, SNA 2008 and ESA 2010, that came into effect in September 2014. It approaches national accounts from a truly global perspective, with special chapters dedicated to international comparisons, globalisation and well-being as well as to the national systems used in major OECD economies, such as the United States.

Each chapter of the manual uses practical examples to explain key concepts in national accounts in a clear and accessible way. And, each chapter concludes with a synthesis of key points covered in the chapter, followed by resources for further exploring the topic, and by a set of exercises to test your knowledge. It is an ideal guide to national accounts for students and other interested readers.

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Distinguishing between volume and price increases

This chapter considers growth, the overall change in the quantity of goods and services produced and made available to consumers and investors, as measured by changes in volume. The main task of national accounts is to separate out, within the change in the observed monetary aggregates, the part of growth that comes from a change in quantities from the part of growth due to a change in prices. The chapter explains in detail how statisticians set about distinguishing these changes through what is known as the volume/price breakdown.

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