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NEW ESTIMATES OF GROSS NATIONAL PRODUCT FOR THE UNITED KINGDOM 1830–1914
Author(s) -
Deane Phyllis
Publication year - 1968
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.1968.tb00938.x
Subject(s) - economics , national accounts , gross fixed capital formation , deflation , gross domestic product , consumption (sociology) , national income and product accounts , econometrics , capital expenditure , relative price , product (mathematics) , macroeconomics , constant (computer programming) , mathematics , accounting , monetary policy , social science , geometry , sociology , computer science , programming language
This paper presents a new annual series for United Kingdom gross national product, at current and constant prices, calculated from the expenditure side. These results differ significantly from previous estimates in that they go back to the beginning of the railway age on an annual basis and also in that the constant price estimates involve a detailed deflation of the main components of expenditure on consumption and capital formation. The implications of the new results are summarised, with particular reference to rates of growth and relative price changes, and an appendix describes the sources of the estimates.