National accounts

The National Accounts ( now often used in the plural national accounts; abbreviated VGR) is a branch of macroeconomics within the economics and provides a statistical work of several partial invoices represents the central focus forms generation, distribution and use of the gross domestic product (GDP ) and the gross National Income ( GNI). Basis of the national accounts is the cycle theory, in which all the exchange processes between companies and households. All goods and services produced form the value, unless it is an advance. The change in the value added to the previous year is used as a measure of the development of an economy. The national accounts recorded only economic processes. The unofficial economy is included, but for practical reasons in accordance with internationally accepted definition, not unpaid work, even though this also is economical production. To process other than purely economic issues, however, are the environmental-economic accounting and other sustainability indicators.

Objectives and significance

" The National Accounts aims to describe economic activity in an economy for a past period, and therefore concluded quantitatively as comprehensively as possible. " The determined values ​​are captured in the form of an accounts system and presented in the form of tables. The national accounts serve politics as an information base for economic developments and political decisions. Without these data, no conditions could be created. The national accounts data also serve as a macro-economic basis for decision. Information such as income, productivity and price level developments are required by trade unions and employers' associations for collective bargaining. Many research institutions require for their analyzes on the data of the national accounts. The data obtained are as a measure of compliance with the Stability Act of 1967. International organizations are dependent on the material for the determination of the funding contributions and benefits, in particular the EU's own resources. Furthermore, the European Central Bank is dependent on the values ​​of the national accounts.

History of the NA

The Basics has created Pacioli. He helped with his Summa de Arithmetica publication, Geometria, Proportioni et Proportionality in 1494 the double entry for breakthrough. In the 18th century, François Quesnay was the suggestion of a systematic representation. He developed the model Tableau Economique was present in a closed freight and economic cycle. He distinguished between the three sectors of farmers, landowners and merchants. In addition, he also recorded all current movements between sectors. A further development of the cycle theory led John Maynard Keynes in 1936. Keynes provided the basis for the systems now used internationally. These were designed for the OECD and UN in various versions by Richard Stone. Currently, the third edition of the System of National Accounts exists (SNA 1993). In the European regions of the European System of Accounts (ESVG 1995) is still in use. It is based on guidelines of the UN. The goal was the unification of the various national binding methods, concepts, classifications, definitions and accounting rules for better comparability between the Member States of the EU. The 1995 ESA is from September 2014 replaced retroactively by the ESA 2010.

Calculation

The calculation of national income, gross national income and gross domestic product will be explained with reference to the distribution account. This table shows the components on the left side of the bill and on the right the corresponding data for Germany from the year 2007.

Other calculation methods can be found at gross domestic product.

In addition to accounts of the national accounts

Input-output accounts

Is closely related to the domestic product calculation. The central focus is the description of the goods and production moderate interdependence between production areas, as well as their share in the total value of production, income generation and use.

Statement of net assets

The resource accounting aims to capture all the stocks to property, assets and liabilities. Furthermore, the insight into the composition of the assets is possible. To help serve the data of the Federal Statistical Office and the Deutsche Bundesbank.

Financial Accounts

The financial accounts calculated ex post and (ex post ) adjusted ( net) financial asset changes (changes in net financial assets and net financial liabilities) of the economic sectors (households, corporations, financial institutions, government, foreign ) per period (usually a calendar year ). The cash flow statement is implemented by the central bank.

In a closed economy, the aggregate net financial assets can not be changed ( excluding the foreign ), because the deficit of a sector facing the surplus of another sector: the monetary liabilities of a sector, the monetary claims of another sector and stand out so far on each other. Domestic financial investment is fundamentally against the exports.

The financial accounts involves the deficit of foreign countries in the height at which it has contributed to a domestic surplus during the relevant period, and " it being understood that the sum of the financial balances of each sector must equal (difference between revenue and expenditure ) is zero. "

The financial accounts is usually interpreted as orthodox, that of taking surplus surplus expenditure to be financed. However, the link for the purposes of credit balances theory and the mechanics can be seen rather in reverse causal relationship: The height of the output surplus funds the amount of the surplus revenue of the complementary sector.

Example

Excess liquidity derived from the excess spending of foreign countries can, of course, to compensate tends abließende liquidity from the banking sector of the country's deficit to be (re) set the foreign banks for refinancing purposes. Nevertheless, applies with respect to current account ( just as on the following marketing period related): Output surpluses to finance surplus revenue complementary group (s) in the same amount.

Foreign trade account

The foreign trade account registered all goods and capital flows between domestic and foreign. Equally important is the development of exchange rates, export and import prices and terms of trade, and terms of trade is called. The most important point represents the balance of payments, this shows changes in credit relations with foreign countries.

Working volume calculation

The working volume calculation determines the number of employees and self-employed.

Income for households

Displays the income distribution of households by groups of self-employed workers and the inactive households.

Comparability

The comparison of GDP can also be carried out in two different methods. Firstly, a comparison over time and on the other an international comparison can be performed. In the temporal comparisons, the difficulty is that all produced goods are valued at market prices. Therefore, to distinguish yet mandatory if production has increased or whether only the prices have risen. For this purpose the domestic product in a quantity component and a value component to be disassembled. Because only the actual increase in production also leads to a higher prosperity of the economy. For better comparison, it is therefore necessary to determine the real development. This is done using the GDP deflator.

An international comparison leads to further difficulties: the biggest, the conversion to a common currency is, because in this case there arises the problem of an appropriate exchange rate. The starting point is the purchasing power parity. This states that the same goods are to cost the same in two different countries. From this, the purchasing power parity rate ( PPP rate ) can be derived. This tells you how high the exchange rate should be such that the real prices are subject to a uniform price level. In the long run, the actual exchange rate and the PPP rate should be equal.

When comparing countries with strong differences in development may cause distortion due to the lower quality of the statistical data and changed procedures. The now globally accepted system of national accounts of the United Nations in facilitating the international comparability.

Detection accuracy

The national accounts data are subject to varying degrees with inaccuracies. The complete non-detection of unpaid work weighs most heavily, but it may include a separate account to be created. Many data have to be estimated by different methods. In particular, smaller companies are often not required to submit statistical declarations, the underground economy is not covered by these. Some statistics, particularly in the service will be charged only every few years. Often, however, data can also be calculated in other ways. Among others, are available for some areas, several sources with different data available, there is an unclear demarcation and thus provide various assignments. Due to the complexity of the invoice inaccuracies are unavoidable. " The inaccuracy of the domestic product figures are often estimated at a magnitude of about three percent."