Chain-weighting: The New Approach to Measuring GDP
نویسنده
چکیده
The U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) is changing its method of measuring the growth of the U.S. economy. Shifts in the structure of the economy—particularly the spectacular fall in computer prices—have meant that BEA’s traditional “fixed-base-year” method of tracking the nation’s gross domestic product (GDP) has tended to overstate growth in recent years. As a result, BEA is using a new, “chain-weighted” procedure to measure GDP growth more accurately.1 In mid-December, BEA plans to release newly revised data, based on this procedure, for the post-1992 period.2
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