Added Title
DLSU-AKI Working Paper Series 2014-009
College
School of Economics
Department/Unit
Economics
Document Type
Working Paper
Publication Date
11-5-2014
Abstract
This paper applies relative price weights–where relative price is the ratio of a sector’s GDP deflator to the aggregate GDP deflator–to convert sectoral real GDP to homogeneous units using the economy’s GDP as “numeraire” in an alternative framework for GDP level aggregation and growth decomposition. This alternative and the “traditional” framework–without relative price weights–are compared and applied to Philippine GDP to show that the latter framework is deficient and misleading for its inability to determine the effects on GDP growth of changes and differences in sectoral relative prices that need to be taken into account.
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Recommended Citation
Dumagan, J. C. (2014). An Alternative Framework for Sectoral Contributions to GDP Level and Growth: Application to the Philippines. Retrieved from https://animorepository.dlsu.edu.ph/res_aki/53
Disciplines
Growth and Development
Keywords
Real GDP; relative prices; index numbers; aggregation; additivity
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