Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Review of income and wealth
41 (1995), S. 0
ISSN:
1475-4991
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
How accurately do we measure the external deficit of the U.S. or the surplus of Japan? If checked at the global level, statistics on international trade and finance show large discrepancies. Such global statistical discrepancies hamper the analysis and understanding of world economic developments. An accounting framework—labelled World Accounting Matrix (WAM)—is proposed to cross-check the statistical consistency of commodity flows, international payments and internal balances across countries. The framework is applied to data for 1990. To obtain global consistency, substantial adjustments had to be made to the estimates of the external balances of the U.S. and Japan. The implications for global modelling work are potentially vast.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1475-4991.1995.tb00105.x
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