Integrating Expenditure and Income Data: What to Do with the Statistical Discrepancy?

58 Pages Posted: 23 Nov 2004  

Joe Beaulieu

Board of Governors of the Federal Reserve - Division of Research and Statistics - Industrial Output Section; National Bureau of Economic Research (NBER)

Eric J. Bartelsman

Vrije Universiteit Amsterdam; Tinbergen Institute; IZA Institute of Labor Economics

Date Written: August 2004

Abstract

The purpose of this paper is to build consistent, integrated datasets to investigate whether various disaggregated data can shed light on the possible sources of the statistical discrepancy. Our strategy is first to use disaggregated data to estimate consistent sets of input-output models that sum to either GDP or GDI and compare the two in order to see where the discrepancy resides. We find a few problem industries that appear to explain most of the statistical discrepancy. Second, we explore what combination of the expenditure data and the income data seem to produce the most sensible data according to a few economic criteria. A mixture of data that do not aggregate either to GDP or to GDI appears optimal.

Keywords: Industry data, input-output, national accounts, statistical discrepancy

JEL Classification: C67, C82

Suggested Citation

Beaulieu, Joe and Bartelsman, Eric J., Integrating Expenditure and Income Data: What to Do with the Statistical Discrepancy? (August 2004). FEDS Working Paper No. 2004-39. Available at SSRN: https://ssrn.com/abstract=622341 or http://dx.doi.org/10.2139/ssrn.622341

J. Joseph Beaulieu (Contact Author)

Board of Governors of the Federal Reserve - Division of Research and Statistics - Industrial Output Section

20th and Constitution Ave., NW
Washington, DC 20551
United States
202-452-3819 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Eric J. Bartelsman

Vrije Universiteit Amsterdam ( email )

Amsterdam, ND North Holland
Netherlands
+31 (0)20 44 46044 (Phone)

Tinbergen Institute ( email )

Burg. Oudlaan 50
Rotterdam, 3062 PA
Netherlands

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

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