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Concepts and Methods Involved in the Last Revision of Italy's GDP
Author(s) -
Siesto Vincenzo
Publication year - 1987
Publication title -
labour
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.403
H-Index - 34
eISSN - 1467-9914
pISSN - 1121-7081
DOI - 10.1111/j.1467-9914.1987.tb00125.x
Subject(s) - goods and services , production (economics) , circulation (fluid dynamics) , economy , immigration , national economy , national accounts , value (mathematics) , economics , statistical analysis , geography , macroeconomics , economic system , statistics , mathematics , engineering , archaeology , aerospace engineering
The general revision of Italy's national economic accounts set out by ISTAT in 1987 was originated by two main factors: the structural changes of the economy detected by the 1981‐82 censuses and through surveys on labour force, the internal offer and demand as a whole, and the need to include the typical activities of the underground economy widespread in Italy into the national accounts. The GDP has been adjusted partly according to the improvement of normal statistical sources in collecting data on the production and circulation of goods and services, especially those deriving from small establishments, and partly from statistical research covering the contributions of activities of clandestine immigrants in Italy, second jobs and minor legal activities in the underground economy. Finally, a breakdown of value added by type of economy (the regular and the parallel) is presented. The presumed extent of the parallel economy is estimated for the year 1982 up to 19‐20|X% of GDP.