Premium
AN ANNUAL CHAIN INDEX OF ITALY'S “REAL” PRODUCT, 1861–1989
Author(s) -
Fuå Giorgio,
Gallegati Mauro
Publication year - 1996
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.1475-4991.1996.tb00167.x
Subject(s) - index (typography) , economics , periodization , product (mathematics) , chain (unit) , econometrics , mathematics , geography , physics , geometry , archaeology , astronomy , world wide web , computer science
The construction and application of a Paasche annual chain index to the Italian GDP figures between 1861 and 1989 is the subject of this article. Comparison with product at constant prices shows, except for war periods, a revaluation of GDP in favour of the annual chain index of around 0.10 percent. The most striking differences are concentrated into periods of marked changes in relative prices, and the new index modifies the temporal pattern of the growth trend by accentuating, without altering the periodization, cyclical fluctuations.