Abstract
This chapter discusses the historical national accounts data that are available for the UK. It looks at recent developments in historical national accounting and examines some of the new data that has become available that improves our ability to dissect cyclical fluctuations in activity. It discusses the three different ways of estimating GDP and how compromise and balanced measures can be constructed from the three approaches for the UK. It also considers the appropriate geographical area for analysis. A composite summary measure of GDP is constructed from the different historical estimates and covers England (to 1720), Great Britain (to 1870) and the pre and post-1922 definitions of the UK (to the present day). This can be used in a univariate analysis of the cycle.
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Notes
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See Crafts and Harley (1992).
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Dimsdale, N., Thomas, R. (2019). GDP Data for Analysing Business Cycles. In: UK Business and Financial Cycles Since 1660. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-26346-1_4
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DOI: https://doi.org/10.1007/978-3-030-26346-1_4
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