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Understanding National Accounts

image of Understanding National Accounts

This manual explains what GDP and GNI and their components are and what they mean. It shows how they are used and what they are used for. And it does this in an easily understood way. Opening with a chapter showing how national accounts concepts relate to macroeconomics, the books goes on to systematically deal with volume and prices, international comparability, production, final uses, household accounts, business accounts, government accounts, and financial accounts. It also has chapter on how national accounts data are gathered and the history of the national accounts system. Three special chapters examine national accounts in China, India, and the United States. Previously published only in French, this manual has been revised and expanded to have a truly global perspective. 

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The financial and balance sheet accounts

Household final consumption expenditure accounts for 60% of GDP, so that a change of one or two percentage points in this aggregate can decide whether the economy does well or badly. The OECD economists therefore keep a close eye on the factors that influence household consumption. The most important of these is their disposable income during the period in question, but it is not the only one. Another variable influencing consumption is the change in household wealth.

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