Vol. 9 No. 17 (2013)

Artículos

On the Measurement of Gross Domestic Product (Measurement of GDP for Dummies)

Published 2013-07-01

  • Carlos Guerrero-de-Lizardi

Carlos Guerrero-de-Lizardi
Escuela de Graduados en Administración Pública, Gobierno y Política Pública, Tecnológico de Monterrey

Abstract

The measurement of the emblematic variable of the National Accounts System represents a formidable challenge for any Statistical Office. We analyze the full meaning of the GDP taking as a backdrop the Economics Science. In order to understand the complex process of GDP's estimation as a second step we take a historical perspective. In the third, we compare the international recommendations and the practical approach used by the INEGI, among others Statistical Offices. In the fourth and five steps, we show errors and potential biases linked with any statistical measure, and we introduce a political economy of measurement perspective, respectively. Indeed, compilations of the National Accounts constitute a tour de force, or a miracle according to Frits Bos.

Keywords

Economic measurement, biases and errors, statistical challenge

PDF (Spanish)

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