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Estimating shifts in real income and real spending

Authors
Journal
Energy Economics
0140-9883
Publisher
Elsevier
Publication Date
Volume
15
Issue
3
Identifiers
DOI: 10.1016/0140-9883(93)90008-f
Keywords
  • Sectoral Real Income
  • Changing Relative Prices
  • Input-Output Framework
Disciplines
  • Economics

Abstract

Abstract Three measures of national income and expenditure at constant prices are defined for individual economic sectors, in an input-output framework. The properties of these three sectoral measures of real income and real spending are compared, to explain differences due to changing relative prices of sector inputs and outputs. Numerical illustration appears, for 13-sector Irish data of 1978 repriced at 1980 prices, and ‘terms-of-trade’ shifts are derived by comparing pairs of measures of each sector. Severe price inflation between 1978 and 1980, and changes in relative prices, were partly attributable to the doubling of petroleum import prices.

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