Progress in Balancing the National Accounts

  • Richard Stone
Chapter

Abstract

It is a great pleasure for me to be able to contribute to this volume in honour of Colin Clark. Colin is one of the key links in the long thin chain of political arithmeticians that stretches back to William Petty, and his work was the main inspiration for mine. Indeed I owe him more than inspiration. He was my teacher at Cambridge and we became close friends. When in 1937 he left England for Australia he passed on to me the running of a little monthly called Trends, which appeared as a supplement to Industry Illustrated and for which he had been regularly compiling time series of output, consumption, investment, foreign trade, employment, prices and other indicators of economic performance. I continued in his footsteps and it was in this way that I sharpened my claws as a national accountant.

Keywords

National Income National Account Economic Progress Social Account Matrix Blue Book 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
This is a preview of subscription content, log in to check access.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

List of Works Cited

  1. Barker, T., F. van der PLOEG and M. WEALE (1984) ‘A Balanced System of National Accounts for the United Kingdom’, The Review of Income and Wealth, ser. 30, no. 4, pp. 461–85.CrossRefGoogle Scholar
  2. Bell, C., and others (1976) ‘A Regional Impact Analysis of a Major Irrigation Scheme, Working paper’ no. 4 (Washington: Development Research Center, World Bank).Google Scholar
  3. Byron, R.P. (1978) ‘The Estimation of Large Social Account Matrices’, Journal of the Royal Statistical Society, Series A, vol. 141, pt. 3, pp. 359–67.CrossRefGoogle Scholar
  4. Clark, C. (1932) The National Income, 1924–1931, London: Macmillan.Google Scholar
  5. Clark, C. (1933) ‘The National Income in 1932’, Economic Journal, vol. XLIII, no. 170, pp. 205–16.CrossRefGoogle Scholar
  6. Clark, C. (1934) ‘Further Data on the National Income’, Economic Journal, vol. XLIV, no. 175, pp. 380–97.CrossRefGoogle Scholar
  7. Clark, C. (1937) National Income and Outlay, (London: Macmillan).Google Scholar
  8. Clark, C. (1940) The Conditions of Economic Progress (1st edn, 1940; 2nd edn, 1951; 3rd edn, 1957) (London: Macmillan).Google Scholar
  9. Curtis, M. (1935) ‘National Income and Expenditure’, Economic Journal, vol. XLV, no. 179, pp. 573–77.CrossRefGoogle Scholar
  10. Cuyvers, L. (1983) ‘Keynes’s collaboration with Erwin Rothbarth’, Economic Journal, vol. 93, no. 371, pp. 629–36.CrossRefGoogle Scholar
  11. Feavearyear, A.E. (1934) The National Expenditure, 1932, Economic Journal, vol. XLIV, no. 173, 1934, pp. 33–47.CrossRefGoogle Scholar
  12. Fisher, R.A. (1925) Statistical Methods for Research Workers (Edinburgh: Olive & Boyd).Google Scholar
  13. Fisher, R.A. (1935) The Design of Experiments (Edinburgh: Olive & Boyd).Google Scholar
  14. Gilbert, Milton, and Irving B. KRAVIS (1954) An International Comparison of National Products and the Purchasing Power of Currencies (Paris: OEEC).Google Scholar
  15. Gilbert, Milton, and Associates (1958) Comparative National Products and Price Levels (Paris: OEEC).Google Scholar
  16. Hmso, Treasury (1941) An Analysis of the Sources of War Finance and an Estimate of the National Income and Expenditure in 1938 and 1940, Cmnd. 6261 (London: Her Majesty’s Stationery Office).Google Scholar
  17. Hmso, Central Statistical Office (1952—) National Income and Expenditure (London: Her Majesty’s Stationery Office, annually since 1952).Google Scholar
  18. Hmso, Central Statistical Office (1968) National Accounts Statistics: Sources and Methods (London: Her Majesty’s Stationery Office.)Google Scholar
  19. Hmso, Central Statistical Office (1975—) Economic Trends Annual Supplement (London: Her Majesty’s Stationery Office, annually since 1975).Google Scholar
  20. Keynes, J.M. (1940) How to Pay for the War. Macmillan, London. Reissued in The Collected Writings of John Maynard Keynes, vol. IX, pp. 367–439; (Macmillan, London, 1972).Google Scholar
  21. Kravis, I.B., and others (1975, 1978, 1982), United Nations International Comparison Project. Phase I, 1975; Phase II, 1978; Phase III, 1982 (Baltimore: Johns Hopkins University Press).Google Scholar
  22. Ploeg, F. van der (1981) Reliability and the Adjustment of Sequences of Large Economic Accounting Matrices (with discussion). Paper read before the RSS, 1981. Journal of the Royal Statistical Society, Series A, vol. 145, pt. 2, 1982, pp. 169–94.CrossRefGoogle Scholar
  23. Stone, R. (1967) ‘The Use of Social Accounting Matrices in Building Planning Models’, Paper presented at the 10th IARIW General Conference, Maynooth, Ireland. In Mathematical Models of the Economy and Other Essays (London: Chapman & Hall, 1970).Google Scholar
  24. Stone, R. (1975) ‘Direct and Indirect Constraints in the Adjustment of Observations’, in Nasjonalregnskap, Modeller og Analyse (essays in honour of Odd Aukrust), (Oslo: Statistisk Sentralbyrâ).Google Scholar
  25. Stone, R. (1977) Foreword, in Social Accounting for Development Planning with special reference to Sri Lanka, by Graham Pyatt, Alan Roe and associates (Cambridge: Cambridge University Press).Google Scholar
  26. Stone, R. (1984) ‘Balancing the National Accounts: the Adjustment of Initial Estimates — a Neglected Stage in Measurement’ (Paper presented at the Ivor Pearce Conference, Southampton, 1982), in A. Ingham and A.M. Ulph (eds) Demand, Equilibrium and Trade (London: Macmillan).Google Scholar
  27. Stone, R. (forthcoming) ‘How Accurate are the British National Accounts?’, in M.L. King and D.E.A. Giles (eds) Specification Analysis in the Linear Model (in honour of Donald Cochrane) (London: Routledge & Kegan Paul).Google Scholar
  28. Stone, R. and G. Stone (1977) National Income and Expenditure. 10th edn, (London: Bowes and Bowes).Google Scholar
  29. Stone, R., D.G. Champernowne and J.E. Meade (1942) ‘The Precision of National Income Estimates’, Review of Economic Studies, vol. IX, no. 2, pp. 111–25.CrossRefGoogle Scholar
  30. Weale, M. (1984), ‘Quantity and Price Effects in an Analysis of World Trade Based on an Accounting Matrix’. Review of Income and Wealth, ser. 30, no. 1, pp. 85–117.CrossRefGoogle Scholar

Copyright information

© Colin Clark Trust Fund, Department of Economics, University of Queensland 1988

Authors and Affiliations

  • Richard Stone

There are no affiliations available

Personalised recommendations