List of Tables in the

Transcription

1 Statistical Appendix

2 List of Tables in the Statistical Appendix AI A2 A3 National and domestic aggregates and subaggregates in per cent of NDI Export surplus and its components in per cent of NDI Main components of major aggregates in per cent of NDI Bl(i) Volume and volume-structure indices B I (ii) Price and price-structure indices B2(i) Volume and volume-structure indices: Alternative estimates B2(ii) Price and price-structure indices: Alternative estimates B3 Analysis of the difference between RNDI and RNDP in per cent of RNDI Cl Industries' percentage shares in GOP at factor cost C2 Sectors' percentage shares in NDP at factor cost C3(i) Origin and destination of private sector disposable income in per cent of NDI C3(ii) Origin and destination of public sector disposable income in per cent of NDI C4 C5 Components of factor income and net intra-national transfers to public sector in per cent of NDI Disposable income and its use by sector in per cent of NDI NOTE not available;- zero; 0.0 positive, but differing from zero by less than one-half of one per cent; -0.0 negative, but differing from zero by less than one-half of one per cent 145

3 National aggregates c E I LJN s LJT y Domestic aggregates c E=P f=p 2, J' Y' Subaggregates c" c, c2, Yn y Yz, Al National and domestic aggregates and subaggregates in per cent of NDI "'" 0\ NOTE For list of symbols see system of national and domestic accounts in section 1.19.

4 National aggregates c E I LJN s LJT y Domestic aggregates C' E=P 1, f=p, r ll ll.5 Y' Subaggregates ell cl, c,l yll y Y2t ;:,. -...I AI National and domestic aggregates and subaggregates in per cent of NDI (cont.) NOTE For list of symbols see system of national and domestic accounts in section 1.19.

5 National aggregates c E I ,1N s ll ,1T y Domestic aggregates c E=P, r=p,, J' Y' Al National and domestic aggregates and subaggregates in per cent of NDI (cont.) "'" 00 Subaggregates c" c,, c, y" Y, y2l NOTE For list of symbols see system of national and domestic accounts in section 1.19.

6 P,2-P2, c,2-c2, Yl2-Y2, E P,2-P2, c,2-c2, Y,2- Y2, E P,2-P2, c,2-c2, Y,2- Y2, E ~ 10 A2 Export surplus and its components in per cent of NDI NOTE For list of symbols see system of national and domestic accounts in section 1.19.

7 A3 Main components of major aggregates in per cent of NDI Vt Y (see AI) Net indirect taxes Employment income Other factor income C (see AI) Private Public I C (see AI) Private a. Food, drink & tobacco b. Other Public a. Defence b. Non-defence Health Education Other J' (see AI) Fixed assets a. Dwellings b. Other Increases in stocks - -l.i Based on residually determined estimates NOTE For list of symbols see system of national and domestic accounts in section 1.19.

8 Y' (seeaj) Net indirect taxes Employment income Other income factor income C (see Al) Private Public C (see Al) Private a. Food, drink & tobacco b. Other* Public a. Defence b. Non-defence !.Health Education Other* J' (see Al) Fixed assets a. DwelliDgs b. Other* Increase in stocks A3 Main components of major aggregates in per cent of NDI (cont.) *Based on residually determined estimates NOTE For list of symbols see system of national and domestic accounts '1 section VI

9 A3 Main components of major aggregates in per cent of NDI (cont.) VI N Y' (see Al) Next indirect taxes ll Employment income Other factor income C (see Al) Private Public C (see Al) Private a. Food, drink & tobacco b. Other* Public a. Defence b. Non-defence I. Health Education Other j (see Al) Fixed assets a. Dwellings b. Other* Increase in stocks Based on residually determined estimates NOTE For list of symbols see system of national and domestic accounts in section 1.19.

10 Lewd (NDP) Structure: NDP Consumption a. Private b. Public NFCF Exports Imports Level (NDP) Structure: NDP Consumption a. Private b. Public NFCF Exports Imports NDP=net domestic product; NFCF=net fixed capital fortnation NOTE For alternative estimates sec table 82(i). -VI I.H Bl(i) Volume and volume-structure indices (1948= 100) Level (NDP) I Structure: NDP I Consumption a. Private b. Public NFCF Exports Imports

11 Bl(ii) Price and price-structure indices (1948= 100) l.ll ~ Level (NDP) Structure: NDP Consumption a. Private b. Public Ill NFCF Exports Imports % Level (NDP) Structure: NDP Consumption a. Private b. Public NFCF Exports Imports Level (NDP) Structure: NDP Consumption a. Private b. Public NFCF Exports Imports NDP =net domestic product; NFCF =net fixed capital formation NOTE For alternative estimates see table 82(iil.

12 Level (NDP) SlniCture: NDP Consumption a. Private b. Public NFCF Exports Imports Level (NDP) StructiiTe: NDP Consumption a. Private b. Public NFCF Exports Imports Lew!/ (NDP) Structure: NDP Consumption a. Private b. Public NFCF Ex pons Imports NDP=net domestic product; NFCF=net fixed capital formation VI NOTE The alternative estimates are based on the assumption that public consumption has the same price development as private consumption. VI Bl(i) Volume and volume-structure indices ( 1948 = 1 00): Alternative estimates

13 Level (NDP) Structure: NDP Consumption a. Private b. Public NFCF Exports Imports Level (NDP) Structure: NDP Consumption a. Private b. Public NFCF Exports Imports NDP =net domestic product; NFCF =net fixed capital formation NOTE The alternative estimates are based on the assumption that public consumption has the same price development as private consumption. -VI Q\ 82(ii) Price and price-structure indices (1948 = 100): Alternative estimates Level (NDP) Structure: NDP Consumption a. Private b. Public NFCF Exports Imports

14 R/J)'- YIP" JY!? JTf? b" TT P'IP' R!?- YIP JYffJ' JT/JJ' b" TT P'IP' R!?- YIP JY/J)' JT/JJ' b" TT P'IP' :.1 R/J)'=RNDI=real national disposable income; Ylp=RNDP=real net domestic product; JY/J)'=real. net income from abroad; JT/J)'=real net transfers from abroad; b" =price-structure effect on foreign balance; TT= terms-of-trade effect; P' =export price index; P' = import price index. v. -...) 83 Analysis of tbe difference between RNDI and RNDP in per cent of NDI

15 Cl Industries' percentage shares in GDP at factor cost VI Agriculture, forestry and fishing Petroleum and natural gas Other mining and quarrying Manufacturing Construction Gas, electricity and water Goods-producing industries Transport and communication Distributive trades Insurance, banking, finance and business services Ownership of dwellings Public administration and defence Other services Service indus tries Residual error 03 0:0 o:4 03 Q.T 1.6 o:s -0.1 Q T.f Insurance, banking. finance and business services after net receipts of interest

16 Agriculture, forestry and fishing Petroleum and natural gas Other mining and quarrying Manufacturing Construction Gas, electricity and water Goods-producing industries Transport and communication Distributive trades Insurance, banking, finance and business services Ownership of dwellings Public administration and defence Other services Service industries Residual error OJ Q.7 - o: u 0.9 Insurance, banking, finance and business services after net receipts of interest VI \0 Cl Industries' percentage shares in GDP at factor cost (cont.)

17 Cl Industries' percentage shares in GDP at factor cost (cont.) 0\ Agriculture, forestry and fishing Petroleum and natural gas Other mining and quarrying Manufacturing Construction Gas, electricity and water Goods-producing industries Transport and communication Distributive trades Insurance, banking, finance and business services Ownership of dwellings Public administration and defence Other services Service indus tries Residual error TI 03 o:4 1: :-u -0.8 Insurance, banking, finance and business services after net receipts of interest

18 Persona1sector Companies Private sector Public corporations 7.6 8: u Government a. central b. local Public sector Residual error.... o.s o:6 o.t 1.7 Q.9 -o.t Personal sector Companies Private sector Public corporations Government a. central b. local Public sector Residual error -0.8 o:6 o:3 o.t o:s - o:s 1.3 T.T Personal sector Companies Private sector Public corporations : Government a. central b. local Public sector Residual error :u o:s o.t o:s -0.2 ([j o:6 -T.T -T.T 0\ Cl Sectors' percentage shares in NDP at factor cost

19 C3(i) Origin and destination of private sector disposable idc:ome in per cent of NDI -Q\ t.,) Factor income Transfers (net): a. international b. intra-national Disposable income Consumption Saving invested in a. real assets b. financial assets l.l Factor income Transfers (net): a. international b. intra-national Disposable income Consumption Saving invested in a. real assets b. financial assets Factor income Transfers (net): a. international b. intra-national I Disposable income Consumption Saving invested in a. real assets b. financial assets

20 i Factor income Transfers (net): a. international b. intra-national Disposable income Consumption Saving invested in a. real assets b. financial assets Factor income Transfers (net): a. international b. intra-national Disposable income Consumption Saving invested in a. real assets '\ b. financial assets c...l C3(ii) Origin and destination of public sector disposable income in per cent ot" NDI Factor income Transfers (net): a. international b. intra-national Disposable income Consumption Saving invested in a. real assets b. financial assets

21 C4 Components of factor income and net intra-national transfers to public sector in per cent of NDI Taxes on expenditure Subsidies Government debt interest Other factor income Total factor income Taxes on income and capital Current and capital transfers Total intra-national transfers I Taxes on expenditure Subsidies Government debt interest Other factor income Total factor income \ ~

22 Taxes on income and capital Current and capital transfers Total intra-national transfers [ Taxes on expenditure Subsidies Government debt interest Other factor income Total factor income Taxes on income and capital Current and capital transfers Total intra-national transfers \ V'l

23 0'\ cs Disposable income and its use by sector io per ceut of NDI '\ Personal sector Disposable income Consumption Saving invested in a. real assets b. financial assets Companies Disposable income =Saving investl'd in a. real assets b. financial assets Public corporations Disposable income =Saving invested in a. real assets b. financial assets Central government Disposable income Consumption Saving invested in a. real assets b. financial assets Local authorities Disposable income Consumption Saving invested in a. real assets h finllncial as~ts

24 cs Disposable income and its use by sector in per cent of NDi (cont.) PusOfiQ/ sector Disposable income Consumption Saving in"~ested in a. real assets l b. financial assets Companies Disposable income Saving in"~ested in a. real assets b. fidancial assets Puhlic corporations Disposable income =Saving in"j6ted in a. real assets b. financial assets Central go-.-ntrrent Disposable income Consumption Saving i71j6ted in L real assets b. lidancial assets Local authorit~s Disposable income Consumption Saving in.ated in a. real assets a.. b. fidadcw assets l

25 \ C5 Disposable idc:ome and its use by sector id pel' ceat of NDI (collt.) Personal sector Disposable income Consumption Saving invested in a. real assets b. financial assets Companies Disposable income =Saving invested in a. real assets b. financial assets !.I Public corporations Disposable income =Saving !.I invested in a. real assets b. financial assets Central government Disposable income Consumption Saving! invested in a. real assets b. financial assets Local authorities Disposable income Consumption Saving invested in a. real assets b. financial assets

26 Notes and References 1. The Basic Accounting Framework I. J. M. Keynes, The General Theory of Employment, /merest and Money (London, 1936), p Index Numbers of Price and Quantity I. E. Laspeyres, 'Die Berechnung eincr mittleren Waarenpreissteigerung' in Jahrb1lcher filr Nationalokonomie und Statistik, volume 16 (Jena, 1871), pp H. Paasche, 'Ueber die Preiscntwicklung der Jetzen Jahre nach den Hamburger Borsennotirungen', in Jahrbiicher filr Nationalokonomie und Statistik', volume 23 (Jcna, 1874), pp R. F. Fowler, Some problems of index number construction (Central Statistical Office, Studies in Official Statistics, Research series no. 3, HMSO, London 1970). 4. L. v. Bortkicwicz, 'Zwcck und Struktur einer Prcisindexzahl. Erster Artikel', in Nordisk Statistisk Tidskrift, volume II (Stockholm, 1923), pp Deflation of Complete Systems l. The same total gross of capital consumption is in table 1.2 of the Blue Book, somewhat confusingly described as 'Total domestic expenditure'. 7. Terms-of-Trade Effects and Real National Income I. In order to avoid complicating the argument unnecessarily the comparison in this chapter is based on data taken from the 1982 Blue Book, which is the last Blue Book to use 1975 rather than 1980 as the base year. 2. The usc of p' as a deflator in terms-of-trade analysis was first recommended by R. Courbis in his study 'Comptes economiques nationaux a prix constants', in Etudes de Comptabilite Nationale, No. 6, 1964 (Paris), pp See my Systems of Social Accounts (Oxford, 1965), chapter 18 and particularly pp See J. Hibbert, 'Measuring changes in the nation's real income', in Economic Trends, No. 255, January 1975, pp. xxxiii-xxxiv. 8. The United Kingdom Experience (II) I. These judgements about the development of production during and immediately after the war arc based on data provided in Tables 5 and 6 of 169

27 170 Notes and References C. H. Feinstein: Statistical Tables of National Income, Expenditure and Output of the UK (Cambridge, 1976). 2. For the index numbers oftota1 gross domestic product at constant prices on which these statements are based see Table 9 of Volume 2 of the United Nations' Yearbook of National Accounts Statistics, 1980 (New York, 1982). 3. I. B. Kravis, A. Heston and R. Summers, World Pr oduct and Income -International comparisons of real gross product (Baltimore and London, 1982). 4. R. Summers and A. Heston, 'Improved International Comparisons of Real Product and its Composition: ', in The Review of Income and Wealth, 1984, pp Comparison of the relevant data in Appendix Tables B1 and B2 actually suggests a ratio of 1.9 made up of a ratio of volume-level indices of 1.14 ( = ) and a ratio of volume-structure indices of 1.64 ( = i- 0.91). 9. Systems of Sector Accounts I. A separate account for the National Insurance Fund, which was dropped from the 1983 edition of the Blue Book, was reinstated in the 1984 edition. 11. Input-Output Table and Analysis I Input-output tables for the United Kingdom (Business Monitor PA 1004, Department of Industry, Business Statistics Office, HMSO, London, 1983). 12. The United Kingdom Experience (III) 1. See T. M. Ridley 'Notes on the Extent of the Public Sector of the Economy in Recent Years', in Journal of the Royal Statistical Society, Series A (General), volume CXIV, (1951), pp

28 Documentary Notes 1. Matrix table Ill in section 9.6-(i) The matrix entries are shown below in italics, and (ii) the 1984 Blue Book tables from which they or their components have been obtained are shown in brackets; CT refers to the capital-transfers matrix shown in note 2 below. Emries in row for: Production account: (1.2); (1.2); = (1.2) (1.2) (1.2); (1.10). Income account of personal sector: = (1.7) (1.7) (1.7)+ 269 (1.7)-5963 (1.11)-750 (1.11); 58=52 (1.7)+6 (CT); =25468 (1.7) (4.2)-6 (CT); 820 (1.10). Income account of corporate sector: 5687= (1.8) (1.8) (1.8)-1369 (9.6)-( ) (1.11)-( ) (1.11)-1156 (1.8); 65 (CT); 1036 = ( ) (CT) (6.4, note 3). Income account of general government: = 69 (1.9) (1.9) (1.9)- II 363 (1.9) (1.11) (1.9) (1.9); = (1.7) (1.7)+957 (CT); 5459=6621 (1.8)-1369 (9.6)+( ) (CT); 958 (1.10). Income account-residual error: 487 (1.3). Capital account: 18137= (1.11)+275 (1.11); 1271= ( ) (1.11)+( ) (1.11)+ 100 (6.4, note 3); -6084= (1.11)-1063 (1.11)-100 (6.4, note 3); 487 (1.11). Rest-of-world consolidated account: (1.10); 1076 (I. I 0); 2781 (1.10); 3629 (1.10). 2. The table on p. 172 shows (i) the capital transfers which took place in 1980 between the personal sector, the companies sector, the public corporations, the central government and the local authorities, and (ii) in brackets the capital account tables in the 1984 Blue Book from which the data were obtained. 3. Matrix table V in section The construction of this table involved the following steps: (i) drawing up a table for 1980 like table 13.2 in the 1984 Blue Book analysing that year's financial transactions by sector and type of asset, (ii) combining columns in that table so as to reduce the sector breakdown to one between (a) banks, (b) non-bank private sector, (c) public sector and (d) 171

29 172 L>ocu~entary /Votes Public Central Local Corporations Government Authorities Total Net Personal ( (4.2) 275(\. tl) Companies " ( ( ( ( (1.111 Central Government 957( (7.3) Local 43( Authorities Total ( ( a Assumed to be zero b = IS4 overseas sector, and (iii) classifying and aggregating the financial asset rows in the table by debtor sector and separating cash (M) from non-cash (R) liabilities for the banks and the public sector. Unfortunately it is not possible to identify the debtor sector in each case. This is true in particular of the last row in the table which is marked 'Balancing item' and which in matrix V is represented in the form of a separate row for 'Unidentified items'. Other rows in the table that defy identification of debtor sector arc the following: (I) identified import and export trade credit other than refinanced export credits, (2) miscellaneous domestic instruments and (3) accruals adjustment. In matrix V these three rows together with one further item are combined into the row for 'Other identified items'. That further item is the correction item required to ensure that the capital accounts of banks and the non-bank private sector balance despite the allocation of the banks' saving and capital formation to the non-bank private sector (cf. section 9.11). The financial transactions account of central government-table 7.4 of the 1984 Blue Book-provided separate information on 'Capital subscriptions to the IMF and European Fund' and 'Allocation of SDRs' and on 'Refinanced export credits', which made it possible to separate these financial transactions from 'Other government overseas financing' and 'Identified import and export trade credit' and to include them in the overseas sector row, i.e. the row marked 'N' in matrix V. The remainder of 'Other government overseas financing', which Blue Book table 7.4 identifies as borrowing from overseas governments and institutions, was allocated to the public sector row. Finally the entries in respect of the public sector's and the private sector's (after capital transfers) saving (S) and net capital formation (J) were derived from table 1.11 in the 1984 Blue Book, as was the residual error entry. 4. Statistical appendix tables. The percentage figures in these tables are based on data at current and at constant prices expressed in millions of pounds

30 Documentary Note.~ 173 sterling, which were obtained from the 1984 and earlier Blue Books and from the 1984 edition of the Economic Trends Annual Supplement. For almost all the series used in preparing the A and the 8 tables the series obtained from the 1984 Blue Book were extended backwards to 1946 or 1948 with the help of the Economic Trends Annual Supplement. The only exceptions are the series for capital consumption, factor income and consumption expenditure to and from abroad and the components of public consumption. Series for these aggregates were built up by starting from the 1984 Blue Book and then working backwards through earlier Blue Books adding on one year at a time to each series. The latter procedure was also followed through in preparing the C tables. The 1938 percentage figures in the A tables are all based on data taken from the 1956, 1958 and 1967 Blue Books. 5. In order to determine the price and price-structure indices and the volume and volume-structure indices in tables 8 I, 82 and 83, the estimates for the aggregates recorded on production account first had to be revalued at 1980 prices all the way back to For consumption, capital formation, exports and imports this was done by means of the Blue Book method of splicing series of constant-price estimates on to each other (cf. section 5.13). In the Blue Book and in the Economic Trends Annual Supplement this method is also applied to the domestic product estimates. As the Blue Book authors point out, this leads to inconsistencies between the constant-price estimates of the domestic product and its expenditure components for years for which these e&timates have been obtained by splicing series on to each other. These inconsistencies have been avoided in preparing tables 81, 82 and 83 by determining NDP at 1980 prices all the way through by the double-deflation method (cf. section 5.8).

31 Literature 1. Although the literature on national accounting is vast, the number of books on the subject is relatively small. Some that are likely to be of interest to the readers of this volume are the following: R. G. D. Allen, An Introduction to National Accounts Statistics (London, 1980). J. R. Hicks, The Social Framework, 4th edition (Oxford, 1971). J. R.N. and G. Stone, National Income and Expenditure, loth edition (London, 1977). G. Stuvel, Systems of Social Accounts (Oxford, 1965). The first of these books follows closely the contents and broadly speaking accepts the concepts as used in the CSO Blue Books. The second is a highly successful attempt, dating back to 1942 (when the first edition appeared), to change the way in which economics can best be studied by putting national (or social) accounting at the start of the whole process. It is also interesting because of the succinct way in which its author's position in the celebrated controversy over valuation at factor cost or at market prices is stated in a note at the end of the book. The third book is a perennial text which has grown out of the 1944 Meade-Stone pamphlet of the same name, Meade and Stone being the initiators of the CSO's work on compiling estimates on national income and expenditure. Finally the last volume mentioned (now out of print) should be of help to those who wish to see the particular accounting framework and concepts used in this study more fully explained. 2. Although all the leading economic journals occasionally carry articles on national-accounts subjects, the overlarge majority of such articles nowadays find their way into The Review of Income and Wealth. This quarterly journal succeeded in 1966 the Conference volumes of the International Association for Research in Income and Wealth, which were published under the title Income and Wealth, Series I-XI. (An author's index to series I-X is to be found in series X.) 3. Early literature on national accounting can be traced in the annotated Bibliography on Income and Wealth, which in its eight volumes covers the period Both the Organisation for European Economic Cooperation (OEEC) and the United Nations (UN) have published national accounts manuals with a view to establishing a basis for international comparability of the statistics of 174

32 Literatw e 175 national income and expenditure of their member countries. Thus the individual country data in the UN Yearbook of National Accounts Statistics arc presented in terms of the definitions and classifications set out in the UN manual A System of National Accounts (Studies in Methods, Series F, No. 2, Rev. 3). 5. The annual and quarterly statistics on national income and expenditure of the United Kingdom which are published in the CSO Blue Books and Economic Trendv respectively arc very fully documented in National Accounts Statistics: Sources and Methods (CSO, HMSO, London 1968). This documentation is regularly brought up to date in the 'Notes' section at the end of each year's Blue Book. 6. Readers who wish to supplement the national accounts analysis of Britain's post-war economic development provided in this volume with a commentary on economic events during the same period may be advised to use for that purpose J. F. Wright's Britain in the Age of Economic Management, An Economic History since 1939 (Oxford, 1979).

33 Index (References to Statistical Appendix are by table number instead of page number.) Accounting rules, 5-6, II, 16, 23, 108, 110 Additive analysis, 65 Agriculture, 121, 123-4, Cl Allen, R. G. D. (Sir Roy), 174 Alternative estimates (defined), 79 Articulation, 14 Balance of payments, 15-7, 101 Bank imputation, 29, 122 Barter, 'Basic' solutions (in input-output analysis), 115 Blue Book, see United Kingdom National Accounts Bortkiewicz, L. von, 54, 59, 169 Business Statistics Office, 170 By-products, 110 Capital consumption, 19-22, 121, 126 Capital formation (net) in pc of NDI, 36-7, 41, 130, AI; by sector, 130, C3(i), C3(ii), C5 Capital transfers matrix, 171 Car industry, 120 Cash (defined), 100 Census of Production, 109 Chain index numbers, 60 Coal industry, 121, 126 Commodity technology assumption, 110 Communications, 121, 123, 125, Cl Competitive imports, Complementary imports, Composite commodities, 50-I Consolidation of accounts, 10; incomplete, 12 Construction, 123-4, C I 176 Consumption in pc of NDI, 36-7, 41-2, 130, AI; by sector, 41-5, 130, , A3, C3(i), C3(ii), C5 Courbis, R., 169 CSO (Central Statistical Office), viii, ix, 14, 98, 101, 110, Cumulated cost composition, Current and capital transfer, (net) to public sector in pc of NDI, 133-5, C4 Debt, write-off of, 98, 138 Deconsolidation, 65 Defence expenditure, 31; in pc of NDI, 44-5, A3 Deflated values, 53, 64, 67 Deflator (i.e. price index) common (or general), 63-4, 66-7, 72-3 for foreign balance, 69, 71-4 for national disposable income, 62, 72-3, 77 for personal disposable income, 67, 77 Direct requirements, see Input requirements Disposable income in pc of NDI, by sector, 130-2, 137-8, C3(i), C3(ii), C5 Disposable income v. factor income, 26 Distributive trades, 123-5, Cl Domestic product (net) in pc of NDI, 40-1, AI Domestic v. national consumption, 12 exports, 12 imports, 12

34 Index 177 income (product), 11-12, 17, 105 Double-deflation method, , 67, 173 Double-entry principle, 5 Dwellings, investment in, in pc of NDI, 44-5, A3 Economic aid, 36, 133 Economic Trends, Annual Supplement, 46, 173 Edgeworth price index (formula), Education expenditure in pc of NDI, 44, A3 Employment income, 116, 119; in pc of NDI, 40-1, A3 Establishment, 109 Expenditure in pc of NDI, by sector, 131-2, Exports in pc of NDI, 38-9, A I Export surplus in pc of NDI, 38-9, A2 Factor cost v. market prices, 23--4, 174 Factor income in pc of NDI, 36--7, 130, A I; by sector, 130-5, C3(i), C3(ii), C4 Factor income v. disposable income, 26 Factor income v. transfers, 23-5 see also Interest and dividends, Interest on consumer debt, Interest on public debt Factor reversal, 52 Farming imputation, 28 Feinstein, C. H., 169 Final bill of goods, Final demand (in input-output) (defined), 112 Final product, narrow v. wide concept, 33 Financial intermediaries, I 00, 102 Financial services, adjustment for, 122 Fisher index numbers (formulae), 53 Fixed assets (defined), 19, 30-2 Fixed asset formation (net) in pc of NDI, 41-2, 45, A3 Flow detail, 93 Food, drink and tobacco expenditure in pc of NDI, 43-4, A3 Foreign balance on goods and services in pc of NDI, 38-9, A2 Fowler, R. F., 53, 169 Gas, electricity and water, , Cl Goods-producing industries, , Cl Government debt interest, see Interest on public debt Government trading, net income from, 133 Gross domestic product (GOP) at factor cost average volume index, 58 industrial pattern, 121-5, Cl Gross v. net concepts, 19, 21-2 Health expenditure in pc of NDI, 44, A3 Heston, A., 170 Hibbert, J., 169 Hicks, J. R. (Sir John), 174 Housewives' services, 27 Import equivalent, 70, 75-6 Imports in pc of NDI, 38-9, A I Imports for final use, 112, 116 Income in kind, 28, 107 Increase in stocks in pc of NDI, 41-2, A3 Index number formulae, see Edgeworth, Fisher, Laspeyres, Paasche Index number gap, Indirect index numbers, Indirect requirements, see Input requirements Indirect taxes, see Taxes on expenditure Indirect taxes (net) in pc of NDI, 40-1, 133, A3 Industrial pattern of production, Industry technology assumption, 110 Inflated values, 53

35 178 Index Input coefficients, 114, 117 Input-output table (nature of), 94 commodity x commodity, , 116, 119 industry x industry, , 116, 119 Input requirements direct, 118 indirect, 118 total, Insurance, banking, finance and business services, 122-3, 125, Cl Interest and dividends, I 03, I 05, 133 Interest on consumer debt, 104 Interest on public debt, ; in pc of NDI, 133-5, C4 Intermediate product, narrow v. wide concept, 33 Internal bookkeeping entries (nature of), 7,9, 17 International Association for Research in Income and Wealth, 174 Investment abroad (net) in pc of NDI, 36-7 Investment in financial assets in pc of NDI, see Lending Investment in real assets in pc of NDI, see Capital formation Keynes, J. M. (Lord), 3, 169 Kravis, I. B., 83, 170 Laspeyres, E., 51, 169 Laspeyres index numbers (formulae), 51-2 Laspeyres-Paasche gap, see Index number gap Lending (net) in pc of NDI, 130, AI; by sector, 130-2, 136-7, 141-2, C3(i), C3(ii), C5 see also Investment abroad (net) Level component of change, 34, 56 License fees, 133 Life-assurance and superannuation schemes, 100, I 06-7 Man-made fibres, 120 Manufacturing, 122-4, Cl Market prices v. factor cost, 23-4, 174 Matrix, presentation of accounts in form of, 6-11, 95, 97-8, I 0 I Meade, J. E., 174 Measurement problems, 78 Metal manufacture, 120 Military expenditure, see Defence expenditure Mining and quarrying, 123-4, Cl Money-creating insitutions, 100, 102 National accounts analysis (nature of), 46 National accounts statistics (defined), 3 National disposable income (NDI) (defined), 26 National Health Service, goods provided under, 106 National income after tax, 25 before tax, 25 National Institute Economic Review, 46 National Insurance benefits, 107 contributions, Nationalisation, 126, 128 National v. domestic concepts, see Domestic v. national 'Net output' (defined), 58, 119 Net v. gross concepts, 19, 21-2 Newman, K. J., viii Non-contributory pensions, 107 Non-fixed assets (defined), 19, 22 North Sea oil and gas, 123 Organisation for European Economic Cooperation (OEEC), 174 Output at constant factor cost by industry, Blue Book index numbers of, 120 Output structure, 83-4 Owner-occupation, 30 Ownership of dwellings, 123, 125, Cl

36 Index 179 Paasche, H., 51, 169 Paasche index numbers (formulae), 51~2 Pattern component of change, 34, 56 Pattern of economic activity, ix, 34, 78 Pension premiums and benefits, Pink Book, see United Kingdom Balance of Payments Price developments, alternative estimates of, 79-81, B2(ii) Price level, 81~2; development measured by NDPindex, 81, B I (ii) Price ratio, SO-l Price relatives, 52, 54-5, 60 Price-structure effects, x, 64-7, 71-2, 74,-89, B3 J>rice-structure effects account, 66, 71 Price-structure index (or ratio), 57, 80, 85-8, 122-4, 173, B I (ii), B2(ii) Primary inputs, J>rincipal products, 110~1 J>roduct, net domestic (NDP) in pc ofndi, 40-1, AI Production account, Blue Book type of, Production boundary (nature of), 27 Production level (or volume), 80~2; development measured by NDJ> index, 81, B I (i) see also Volume developments Property income from abroad (net) in pc of NDI, 38-9, A2 Pro rata assumption (in input~ output), 109 Public administration and defence, , 125, Cl Public consumption, measurement at constant prices, 79 Public sector borrowing requirement, 137 Quantity ratio, 50, 52 Quantity relatives, 52, 54-5 Real national disposable income (RNDI) and real net domestic product (RNDP), analysis of difference between them in pc of RNDI, 89~90, B3 Real national income v. real national product (or output), 71, 75 Reference base, 58, 60 Rent, 133 Rental imputation, 30 Residual error (defined), 97 Ridley, T. M., 170 Royalties, 133 Sales by final demand, 112, 116, 119 Saving in pc of NDI, 36, 130, A I; by sector, 130, , C3(i), C3(ii), C5 Schoolmeals, milk and welfare foods, Secondary output, 110 Sector allocation of consumption expenditure, 105 factor income, 103 Sectors of national economy, 96, 100 world economy, 8 Sector capital accounts, 97, Sector income accounts, 95, 97 Sector pattern of production, Sector production accounts, 95 Service industries, 122~5, C1 Single commodities, 49~50, 52, Standard Industrial Classification, 120 State retirement pension, 107 Stock appreciation, 22~3, 100, 121 Stone, J. R. N. (Sir Richard) and Giovanna, 174 Straight-line depreciation, 20 Structure, see Pattern Stuve!, G., 174 Subsidiary products, 110 Subsidies in pc of NDI, 133~5, C4 Summers, R., 170 Systems of accounts national and domestic accounts, 13--4,34-5,55,93-5 purely national accounts, 14-5 sector accounts, 94