Viajar a través del cosmos: la medida de la creación de riqueza y la serie histórica del Producto Interior Bruto de España (1850-2008)

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This paper provides an answer to Leandro Prados de la Escosura's response to my estimation of Spain's Gross Domestic Product time series (Revista de Economía Aplicada, no 49, 2009, pp. 5-45). It proves that the CPI is the best available deflator for rebuilding the GDP before the CNE because it correctly measures year-to-year changes of the general price level. It employs a linking procedure of the historical series of national accounts that is consistent with the newer SCN-93 and SEC-95 national accounts systems and which coincides with the systems used by all international economic organizations. The updating of the accounting system, with the inclusion of the non-observed economy and of own-account production of goods by households, has made previous estimations obsolete and requires the use of second generation estimations, with the inevitable re-adaptation of the relative levels of different economies.
Original languageSpanish
Pages (from-to)25-54
JournalRevista de Economia Aplicada
Issue number51
Publication statusPublished - 1 Dec 2009


  • Economic growth
  • Gross domestic product
  • Historical national accounts

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