Add to ORKGIf official figures overstated the growth of banking output in the UK in the recent boom, does this mean that GDP growth was overstated too? The answer is no. It is truer to say that if banking output was overstated then the output of some other industry or industries must have been understated, leaving GDP relatively unaffected. The reason is that the Office for National Statistics measures the real growth of GDP primarily from the expenditure side. And from the expenditure side most of the problematic part of banking output drops out since it constitutes intermediate consumption not final expenditure. Consequently, the effect of any mis-measurement of banking output on GDP growth in the boom of 2000-2007 is likely to have been small: GDP ...
The rate of growth of output in the British economy appears to be slowing down in line with earlier ...
Real GDP measured from the output side, GDP(O), should equal real GDP measured from the expenditure ...
This paper argues that non-random measurement errors in the estimates of British Gross Domestic Pro...
In the decade before the financial crisis, the UK financial services sector grew more than twice as ...
At the peak of both the stock and housing bubbles, there were extraordinary shifts in the statistica...
China became the world’s largest economy in 2014”. “UK GDP grew by 0.2% in the first quarter of 2017...
In the NBER Working paper ”Measuring Economic Growth From Outer Space” it is suggested that 29 count...
Evidence is mixed on whether growth in the economy is beginning to turn down. Nevertheless, the grow...
Today the IMF cast doubt on the Chancellor’s deficit reduction programme and new figures suggested t...
Conventional estimates suggest that the 2007–2009 financial crisis reduced UK potential output by 3....
The growth of the UK economy continues at a brisk rate. Manufacturing output is especially buoyant. ...
The study of economic growth is central to macroeconomics. More than anything else, macroecon-omists...
Looking at the relationship between the UK’s public debt levels and economic growth using data from ...
Gross domestic product's high correlation with unemployment and inflation makes it a key measure of ...
Introduction The UK economy went into recession in 2008Q2. GDP fell in that quarter and continued fa...
The rate of growth of output in the British economy appears to be slowing down in line with earlier ...
Real GDP measured from the output side, GDP(O), should equal real GDP measured from the expenditure ...
This paper argues that non-random measurement errors in the estimates of British Gross Domestic Pro...
In the decade before the financial crisis, the UK financial services sector grew more than twice as ...
At the peak of both the stock and housing bubbles, there were extraordinary shifts in the statistica...
China became the world’s largest economy in 2014”. “UK GDP grew by 0.2% in the first quarter of 2017...
In the NBER Working paper ”Measuring Economic Growth From Outer Space” it is suggested that 29 count...
Evidence is mixed on whether growth in the economy is beginning to turn down. Nevertheless, the grow...
Today the IMF cast doubt on the Chancellor’s deficit reduction programme and new figures suggested t...
Conventional estimates suggest that the 2007–2009 financial crisis reduced UK potential output by 3....
The growth of the UK economy continues at a brisk rate. Manufacturing output is especially buoyant. ...
The study of economic growth is central to macroeconomics. More than anything else, macroecon-omists...
Looking at the relationship between the UK’s public debt levels and economic growth using data from ...
Gross domestic product's high correlation with unemployment and inflation makes it a key measure of ...
Introduction The UK economy went into recession in 2008Q2. GDP fell in that quarter and continued fa...
The rate of growth of output in the British economy appears to be slowing down in line with earlier ...
Real GDP measured from the output side, GDP(O), should equal real GDP measured from the expenditure ...
This paper argues that non-random measurement errors in the estimates of British Gross Domestic Pro...