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Occasional Staff Studies OSS-1: Appendix 1 Previous: Main text |
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Table A-1 presents the 1996:Q2 levels of the data used in the sectoral decomposition. Columns A through I contain the series of primary interest; columns J through Q contain the sectors needed to construct the series in the first nine columns. A description of the source data, accounting identity, or interpolation/exrapolation procedure used to construct each cell is given below.
Column A Nonfarm Business Less Housing, Product-based
Lines 1-11: Column J-Column O-Column P-Column Q. That is, the domestic business sector less the farm sector, owner-occupied housing, and the rental value of buildings and equipment owned by nonprofit institutions. The domestic business sector excludes output originating in private households, nonprofit institutions, and general government from total GDP.
Line 12: BLS. Hours of all persons in the nonfarm business sector.
Column B Nonfarm Business Less Housing, Income-based
Line 1: A1 - NIPA statistical discrepancy for gross domestic product (NIPA 1.9, line 15).
Line 2: B1/(A1/A2)
Line 3: A3
Line 4: A4-(NIPA 1.9, line 15)
Line 5: A5-(NIPA 1.9, line 15)
Lines 6-12: A6 through A12
Column C Nonfarm Corporate Business
Lines 1-12: Column E+Column D
Column D Financial Corporations
Lines 1-12: Column K-Column L
Column E Nonfarm Nonfinancial Corporations
Lines 1-12: Column L-Column N
Column F Manufacturing Corporations
Line 1: F4+F3
Line 2: F1/(manufacturing deflator). The manufacturing deflator is the implicit gross product originating (GPO) deflator interpolated and extrapolated to the quarterly frequency using a deflator for nonfarm goods (calculated using NIPAs 1.3 and 1.4, lines 4 and 5, and NIPAs 1.7 and 1.8, line 6).
Line 3: NIPA 6.22C, line 11, interpolated and extrapolated by the capital consumption allowance for nonfinancial corporations.
Line 4: F5+F6
Line 5: M5*(F6/M6). This assumes that indirect business taxes, etc., for manufacturing corporations are proportional to their income relative to the income of all manufacturing business (column M).
Line 6: F7+F8+F9
Line 7: M7*0.98
Line 8: M8
Line 9: M9*0.97 (This ratio is based on unpublished BEA data by legal form of business.)
Lines 10-11: Not applicable
Line 12: BLS. Hours of all employees in manufacturing*0.98 The 0.98 estimate for the corporate share of manufacturing hours is based on data provided by BEA for the distribution of labor compensation by legal form of organization and industry.
Column G Nonfarm Nonmanufacturing Corporations
Lines 1-12: Column E-column F. Note, line 2 is adjusted to take account of the residual that emerges from chain weight aggregation.
Column H Nonfarm Noncorporate Business
Lines 1-12: Column A-column D-column E. Note, line 2 is adjusted to take account of the residual that emerges from chain weight aggregation.
Column I Nonfarm Noncorporate Business, Income-based
Lines 1-12: Column B-column D-column E. Note, line 2 is adjusted to take account of the residual that emerges from chain weight aggregation.
Column J Domestic Business
Line 1: NIPA 1.7, line 2.
Line 2: NIPA 1.8, line 2.
Line 3: NIPA 1.9, line 6+line 11.
Line 4: J1-J3.
Line 5: NIPA 3.1, line 4+NIPA 1.9, line 14+NIPA 1.9, line 15-NIPA 3.2, line 25
Line 6: J4-J5.
Line 7: NIPA 1.14, line 2 - NIPA 3.7B, line 38 - NIPA 1.7, line 7 - NIPA 1.15, line 49. (The last item, rest of world compensation, is linearly interpolated to the quarterly frequency.)
Line 8: NIPA 1.16, line 9.
Line 9: J6-J7-J8-J10-J11
Line 10: NIPA 1.14, line 9.
Line 11: NIPA 1.14, line 17.
Line 12: BLS. Hours of all persons in the business sector.
Column K Corporations
Line 1: NIPA 1.16, line 1
Line 2: NIPA 1.16, line 36+(NIPA 1.16, line 18/financial deflator). The financial deflator is the implicit GPO deflator for banking, credit agencies other than banks, insurance carriers, and security and commodity brokers interpolated and extrapolated by the quarterly deflator for personal consumption expenditures on brokerage and bank service charges, services furnished without payment by financial intermediaries, and the expense of handling life insurance (NIPA 2.4, lines 61-64).
Lines 3-9: NIPA 1.16, lines 2, 3, 4, 5, 6, 9, and 17.
Lines 10-11: Not applicable.
Line 12: L12 + (financial hours). The financial hours are calculated from BLS data on hours paid in the finance, insurance and real estate industry, excluding hours in SIC 64, 65, and 67, reduced by 6 percent to adjust for hours worked vs. hours paid. (This series is similar to BEA's annual series on employee hours for SICs 60, 61, and 63.)
Column L Nonfinancial Corporations
Lines 1-9: NIPA 1.16, lines 19, 36, 20-24, 27, and 35.
Lines 10-11 Not applicable.
Line 12: BLS. Hours of all employees in the nonfinancial corporate sector.
Column M Manufacturing
Line 1: M3+M4
Line 2: M1/(manufacturing deflator) (see F2).
Line 3: NIPA 6.13C, line 7 + NIPA 6.22C, line 11, interpolated and extrapolated by the capital consumption allowance for nonfinancial corporations.
Line 4: M5+M6
Line 5: GPO data. Indirect business taxes are interpolated and extrapolated by manufacturing shipments; business transfers and subsidies are interpolated to the quarterly frequency using a cubic spline.
Line 6: M7+M8+M9+M10
Line 7: NIPA 2.1, line 5 + (NIPA 6.2C, line 13 - NIPA 6.3C, line 13), interpolated and extrapolated by NIPA 1.16, line 26 (supplements for all nonfinancial corporations).
Line 8: NIPA 6.16C, line 14 (adjusted to be consistent with latest GPO figures).
Line 9: NIPA 6.15C, line 6, interpolated and extrapolated by NIPA 1.16, line 35.
Line 10: NIPA 6.12C, line 5, interpolated and extrapolated by manufacturing shipments.
Line 11: Not applicable.
Line 12: BLS. Hours of all persons in manufacturing.
Column N Farm Corporations
Line 1: N3+N4
Line 2: N1/(O1/O2)
Line 3: Flow of funds table F.104, line 4.
Line 4: N5+N6.
Line 5: O5*(N6/O6) This assumes that indirect business taxes and subsidies for farm corporations are proportional to their income relative to the income of all farm business(column O).
Line 6: N7+N8+N9
Line 7: O7* (the corporate share of farm sector compensation obtained from unpublished BEA annual data interpolated to the quarterly frequency).
Line 8: O8
Line 9: O9* (the corporate share of farm sector net interest obtained from unpublished BEA annual data interpolated to the quarterly frequency).
Lines 10-11: Not applicable.
Line 12: O12* (the corporate share of farm sector compensation (see N7)).
Column O Farm Business
Line 1: NIPA 1.7, line 6.
Line 2: NIPA 1.8, line 6
Line 3: Flow of funds table F.104, line 3.
Line 4: O1-O3.
Line 5: NIPA 8.8, line 17-NIPA 8.8, line 18. Note: both series are interpolated to a quarterly frequency using a cubic spline.
Line 6: O4-O5.
Line 7: NIPA 8.8, line 20, interpolated to a quarterly pattern using the sector's total domestic income less net interest and proprietors' income (O6-O9-O10).
Line 8: O6-O7-O9-O10.
Line 9: NIPA 8.8, line 26, interpolated to a quarterly frequency using a cubic spline.
Line 10: NIPA 1.14, line 10.
Line 11: Not applicable.
Line 12: J12-A12. (BLS hours of all persons for the business less nonfarm business sectors)
Column P Owner-occupied Housing
Line 1: NIPA 8.19, line 89, interpolated to a quarterly frequency using PCE space rent for owner-occupied nonfarm dwellings (NIPA 2.4, line 24). [Data beginning in 1995Q4 are the unpublished BEA estimates supplied to BLS.]
Line 2: P1 deflated by the implicit deflator for nonfarm housing product (NIPA 1.7, line 5/NIPA 1.8, line 5). [Data beginning in 1995Q4 are the unpublished BEA estimates supplied to BLS.]
Line 3: NIPA 8.19, line 90, interpolated to a quarterly frequency using the consumption of fixed capital for the noncorporate sector (NIPA 1.9, line 6-NIPA 1.14, line 33).
Line 4: P1-P3.
Line 5: P4-P6.
Line 6: P9+P11
Lines 7-8: Not applicable.
Line 9: NIPA 8.19, line 93, interpolated to a quarterly frequency using net interest for the noncorporate sector (NIPA 1.9, line 19-NIPA 1.16, line 17).
Line 10: Not applicable.
Line 11: NIPA 8.19, line 94, interpolated to a quarterly frequency using rental income of persons (NIPA 1.14, line 17).
Line 12: Not applicable.
Column Q Building and Equipment Serving Nonprofit Institutions
Line 1: NIPA 8.19, line 102, interpolated to a quarterly frequency using nonfarm business output less housing (NIPA 1.7, line 4). Note: this is the convention used by BLS.
Line 2: Q1 deflated by the implicit deflator for nonfarm business output less housing (NIPA 1.7, line 4/NIPA 1.8, line 4).
Line 3: NIPA 8.19, 103, interpolated to a quarterly frequency using the consumption of fixed capital for the noncorporate sector (NIPA 1.9, line 6-NIPA 1.14, line 33).
Line 4: Q1-Q3.
Line 5: Q6-Q4.
Line 6: Q9
Lines 7-8: Not applicable.
Line 9: NIPA 8.19, line 105, interpolated to a quarterly frequency using net interest for the noncorporate sector (NIPA 1.9, line 19-NIPA 1.16, line 17).
Lines 10-12: Not applicable.
| Nonfarm Bus. less housing, product based | Nonfarm Bus. less housing, income based | Nonfarm corporate business | Financial Corps. | Nonfarm
Nonfinancial
corps. | Mfg.
corps. | Nonfarm Nonmanufacturing corps. | Nonfarm
Noncorporate, product based | Nonfarm
Noncorporate, income based | ||
| A | B | C | D | E | F | G | H | I | ||
| 1 | Gross product: nominal | 5714.4 | 5771.9 | 4552.5 | 484.0 | 4068.5 | 1242.2 | 2826.3 | 1161.9 | 1219.4 |
| 2 | Gross product: $92 | 5256.9 | 5309.8 | 4247.7 | 427.4 | 3819.9 | 1187.8 | 2631.9 | 1016.9 | 1065.4 |
| 3 | Cons. of fixed cap | 601.8 | 601.8 | 468.8 | 31.1 | 437.7 | 152.6 | 285.1 | 132.9 | 132.9 |
| 4 | Net dom. product | 5112.6 | 5170.1 | 4083.7 | 452.9 | 3630.8 | 1089.6 | 2541.2 | 1029.0 | 1086.5 |
| 5 | IBT+Bus. trans.-subs. | 429.0 | 486.5 | 450.3 | 47.3 | 403.0 | 62.8 | 340.3 | -21.3 | 36.2 |
| 6 | Domestic income | 4683.6 | 4683.6 | 3633,3 | 405.5 | 3227.8 | 1026.8 | 2201.0 | 1050.2 | 1050.2 |
| 7 | Compensation | 3320.9 | 3320.9 | 2938.2 | 241.9 | 2696.3 | 830.6 | 1865.7 | 382.8 | 382.8 |
| 8 | Profits w/IVA&CCA | 574.7 | 574.7 | 574.7 | 143.5 | 431.2 | 161.5 | 269.7 | ||
| 9 | Net interest | 253.6 | 253.6 | 120.4 | 20.1 | 100.3 | 34.8 | 65.5 | 133.2 | 133.2 |
| 10 | Prop. income | 469.4 | 469.4 | 469.4 | 469.4 | |||||
| 11 | Rental income | 65.0 | 65.0 | 65.0 | 65.0 | |||||
| 12 | Hours of persons | 173.8 | 173.8 | 133.5 | 8.1 | 125.3 | 35.4 | 89.9 | 40.4 | 40.4 |
| Domestic business | Corporate
(Total) | Nonfinancial
corps.
(Total) | Mfg.
(Total) | Farm
corps. | Farm
(Total) | Owner-occupied
housing | Rental
value of buildings and equip. of nonprofits | ||
| J | K | L | M | N | O | P | Q | ||
| 1 | Gross product: nominal | 6334.6 | 4565.6 | 4081.6 | 1298.3 | 13.1 | 97.6 | 476.5 | 46.2 |
| 2 | Gross product: $92 | 5807.3 | 4258.4 | 3831.0 | 1241.4 | 11.1 | 82.8 | 425.1 | 42.5 |
| 3 | Cons. of fixed cap | 726.4 | 471.0 | 439.9 | 159.7 | 2.2 | 23.5 | 78.0 | 23.2 |
| 4 | Net dom. product | 5608.2 | 4094.6 | 3641.7 | 1138.6 | 10.9 | 74.1 | 398.5 | 23.0 |
| 5 | IBT+Bus. trans.-subs. | 552.8 | 450.3 | 403.0 | 65.6 | -0.0 | -0.1 | 114.4 | 9.4 |
| 6 | Domestic income | 5055.4 | 3644.3 | 3238.8 | 1073.0 | 11.0 | 74.2 | 284.1 | 13.5 |
| 7 | Compensation | 3336.9 | 2945.3 | 2703.4 | 847.5 | 7.1 | 16.0 | ||
| 8 | Profits w/IVA&CCA | 577.3 | 577.3 | 433.8 | 161.5 | 2.6 | 2.6 | ||
| 9 | Net interest | 501.5 | 121.6 | 101.5 | 35.9 | 1.2 | 9.9 | 224.5 | 13.5 |
| 10 | Prop. income | 515.2 | 28.2 | 45.8 | |||||
| 11 | Rental income | 124.5 | 59.5 | ||||||
| 12 | Hours of persons | 178.6 | 135.6 | 127.4 | 37.1 | 2.1 | 4.7 |
