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  • 11
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 13 (1967), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The technique of national income accounting is a part of what Hicks has termed “The Fixprice Method”. Deflation is an attempt to approximate a real economy to a fixprice economy. It is shown that if the propositions of macro-dynamics are to hold, this deflation cannot be done in accordance with the price structure prevailing at any particular historical time, but must use that given by the capital theory of value, viz., when returns to labour are equal to zero. For a labour-abundant developing economy this will correspond to prices based on opportunity cost principles.As an illustration, sectoral incomes on this basis have been calculated for the industrial sector of the Indian economy for the years 1951 to 1965.
    Type of Medium: Electronic Resource
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  • 12
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 13 (1967), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This report summarizes the proceedings of a series of meetings called by the Conference on Research in Income and Wealth of the National Bureau of Economic Research in June of 1966. The major conclusions of the conference, as transmitted to the Statistical Office of the United Nations, were as follows: (1) The aim of integrating the various parts of the system of national accounts, including input-output and financial transactions, is to be welcomed. (2) The more recently developed parts of the system need considerably more work to reach the same level of clarity and usefulness which the national income and product accounts have acquired. (3) Some simplification of the proposed basic system should be considered, involving the identification of a minimum of information that should and could be provided by all countries. (4) In line with the conference's overriding interest in national accounts as an instrument for economic analysis and a means of more informed policy formation, the proposed system needs considerable strengthening in the field of income distribution.
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  • 13
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 12 (1966), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 14
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 12 (1966), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper is concerned with the influence of different estimation procedures on the data for real output by industry group of a number of O.E.C.D. countries. The authors have examined the methods and indicators used in preparing sector real output data and have tried to assess the effect of the different methods on the recorded changes of sector real output. The data for real output, employment and productivity are compared for the different sectors and countries. The comparison between sectors lays particular emphasis on the dichotomy between the services and non-service sectors of the economy. In this comparison as well as in inter-country comparison it is seen that the data are influenced to a considerable extent by different methods. The survey of estimation methods also shows the incidence of use of double deflation techniques and other methods in the different countries, and the extent to which quality change, output specification and valuation problems are reflected in the different methods.
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  • 15
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 12 (1966), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 16
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 12 (1966), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 17
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 13 (1967), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Economists' use of the term “equality” in reference to a distribution of incomes has historically been in the sense of a consensus for some statistical characteristic(s) of the distribution rather than a firm concept of equality. Of course such a concept rests on appropriate welfare assumptions about income and its distribution, assumptions which, for the most part, have been left implicit (and unknown) in discussions of income equality in the literature.Our purpose in this paper is dual: first, we wish to discover an unambiguous, welfare-related equality measure. This we accomplish through suitable assumptions on a social welfare function. What is produced is an “index” of equality which describes the performance of a given distribution relative to the maximum welfare derivable from the total income it represents. The measure thus depends functionally on the welfare attributes of income, something which in reality we know little about.This impasse leads us to inquire into the sensitivity of the index over specifications of the welfare function, which is done by comparing equality ranks for the states of the United States for 1960 under various functional forms and among curves within a given form. As an interesting secondary issue, the performance of traditional equality measures is tested relative to the welfare-oriented index to discover implications about their welfare content.It is found that the equality index is, in certain ranges for the welfare function, insensitive to its specification. The findings lead directly to conclusions concerning traditional equality measures, their usefulness in correctly accounting for equality differences among alternative income distributions and, concomitantly, their implicit welfare inputs.
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  • 18
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 12 (1966), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 19
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 12 (1966), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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  • 20
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 12 (1966), S. 0 
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines differentials in output, employment and productivity across seventeen service industries in the United States from 1939 to 1963. Included are 9 retail trades and 8 services mostly from the personal service group. The industries chosen were those for which it was possible to obtain from available data reasonably comparable measures of output and input for selected years since 1939. Also, they are industries for which it is possible to calculate a measure of real output that is not based on labor input.Sixteen of the industries show positive rates of change of real output per man. Thus there appears to be no basis for assuming that productivity cannot or does not increase in industries providing services. However, the rate of increase for the group as a whole was not as rapid as in manufacturing or in goods production as a whole.The data for the seventeen industries give strong support to the hypothesis of a positive correlation between industry rates of growth and rates of change of productivity. The correlations are of the same order of magnitude as those found by other investigators in studies of manufacturing industries.The coefficient of correlation between growth of output per man and growth of output is .93; between growth of output per man and growth of employment it is .54 for 1939–1963. The comparable coefficients for the 1948–1963 period are .70 and .13.The results also parallel those reported for manufacturing in one other respect, namely, the absence of any correlation between changes in output per man and changes in compensation per man.The paper concludes with a discussion of the problems encountered in measuring changes in real output in these industries and presents some alternative estimates based on different concepts and different sources.
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