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Does Gross Domestic Income Data Change Our Understanding Of The Business Cycle?
Saturday, January 23, 2016 5:59
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from the Cleveland Fed
– this post authored by Mark Bognanni and Christian Garciga
The Bureau of Economic Analysis constructs two different measures of aggregate output: Gross Domestic Product (GDP) and Gross Domestic Income (GDI). As a matter of accounting, the expenditure-side GDP measure should be identical to the income-side GDI measure. In practice, however, it is difficult to measure nearly $17 trillion worth of value precisely, and this measurement error always leaves a substantial discrepancy between GDP and GDI.
Source: http://econintersect.com/pages/contributors/contributor.php?post=201601230612
