A penny spent is a penny earned (by someone else): Measuring GDP

S Borağan Aruoba, Francis X. Diebold, Jeremy J Nalewaik, Frank Schorfheide, Dongho Song, 3 December 2013

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“A growing number of economists say that the government should shift its approach to measuring growth. The current system emphasises data on spending, but the bureau also collects data on income. In theory the two should match perfectly – a penny spent is a penny earned by someone else.

Topics: Frontiers of economic research
Tags: data, GDP, measurement, national income accounting, unemployment, US

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