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The Macroeconomy and Aggregate Controls – Introductory Comments

The Macroeconomy and Aggregate Controls – Introductory Comments. Gretchen Donehower Monday, June 14. What are macro controls?. (AKA aggregate controls, control totals) Macro controls are Aggregate indicators of national activity over a fixed period of time,

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The Macroeconomy and Aggregate Controls – Introductory Comments

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  1. The Macroeconomy and Aggregate Controls – Introductory Comments Gretchen Donehower Monday, June 14

  2. What are macro controls? • (AKA aggregate controls, control totals) • Macro controls are • Aggregate indicators of national activity over a fixed period of time, • Based on internationally accepted accounting principles, • Including ALL flows in an economy, • Adjusted in a few important ways when national accounting concepts differ from NTA concepts, • Rearranged to focus on what NTA cares about: PRODUCE, CONSUME, SHARE AND SAVE

  3. What do we do with them? • Implicit assumption: any error in my unadjusted age profile is PROPORTIONAL by age • We adjust our age profiles (AP) proportionally to make our aggregates match:

  4. Why do we need them? • Allows NTA to connect existing, accepted accounting system • Available age profiles may not fully represent economic activity • Only have participation, not actual unit value • Have something similar but not exactly

  5. What are we going to do today? • Review spreadsheet designed to calculate the major macro controls from SNA-format national accounts tables • Use the spreadsheet to calculate macro controls for your country or an example country • *** SPREADSHEET WILL NEED TO BE MODIFIED FOR YOUR COUNTRY’S CASE ***

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