you need
- - statistical data for the required period;
- - a calculator or computer applications for the calculations.
Guide
1
Determine base year, iethe year in which prices and you will calculate real GDP .For example, you need to calculate real GDP 2010 at 2009 prices, in this case, the base year is 2009. Keep in mind that the base year should not necessarily be chronologically before the current (under study).
2
Determine the volume of nominal GDP study period, expressed in monetary units.Such information can be found in the statistical manuals or on the websites of statistical offices.For example, you can use the data of Rosstat, or the World
Bank.
3
Determine the price index that will be used to calculate real GDP , and find its value.Most often it is used as the CPI or the GDP deflator .CPI or consumer price index is calculated based on the cost of the consumer basket, which includes goods and services consumed by urban middle-class family during the year.
4
in macroeconomic models and tasks for calculating real GDP commonly used so-called GDP deflator .It is calculated based on the value of all goods and services produced by the national economy during the year.Indicators such as the CPI and the GDP deflator , as a rule, given the terms of the problem, or they can be found in the official statistical handbooks.
5
The most common statistical services publish the values of these indices as compared to the prices of the previous year, so if your task as the base is not used in relation to the previous year studied, to find the value of the index may be difficult.Moreover, it is virtually impossible to calculate their own, becausethis requires to have information on the number of consumed (or produced) goods of each category, as well as on the prices of these goods.
6
Divide the amount of the nominal GDP on the value of the selected price index.The resulting number is the amount of real gross domestic product.
Sources:
- deflator of GDP in Russia and other countries of the world