Was boom a dream?

Doug Henwood dhenwood at panix.com
Sun Feb 10 15:20:03 PST 2002


Christian Gregory wrote:


>Wouldn't the revision down of the "income" side only make no difference if
>it were revised in such a way as to still be plausibly within the range of
>statistical error for income?

I don't get what you mean.


>Also,I was wondering, as I was recently perusing the NIPA tables, about
>measuresof private saving. If you discount capital consumption, this would
>put US saving at roughly 3% in the most recent quarter, which I can believe.
>But a quick glance at older numbers didn't indicate the lack of private
>saving that Wynne Godley, for example, once talked about. Other than
>"personal saving," (which is a residual number in the personal income
>table), I'm wondering how one might derive a meaningful measure of saving
>from the NIPA tables. What do you think? Am I asking too much?

Which ones were you looking at? Did you look at the section 5 tables <http://www.bea.doc.gov/bea/dn/nipaweb/SelectTable.asp?Selected=N#S5>>?

Doug



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