SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC.
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lete matrix for our base year, 1960, is given in detail in [8];
a summary version for 1962, showing the totals within each
class, is given in table I below.
For obvious statistical convenience we have keyed in our
main totals to the official estimates of national income and
expenditure [48]. At certain points, however, we have de-
parted from the treatment followed in these estimates. The
most important difference lies in the fact that we define con-
sumers’ durables not as consumption goods but as fixed assets.
This means that in our treatment these goods are bought on
capital account and their consumption is measured by depre-
ciation. Nevertheless, our estimates of total private consump-
tion plus net investment in consumers’ durables are equal to
the official estimates of consumers’ expenditure.
As can be seen from table 1, the accounts in SAM are
simply a logical development of the four national accounts [42],
and can easily be reduced back to them by appropriate con-
solidation. The use of fifteen classes of accounts instead of
four is largely dictated by the need to reconcile different clas-
sifications. This can be illustrated by considering the four
classes which appear as the first four rows and columns in
table 1 and which, taken together, constitute the national ac-
count for production.
Class I relates to commodities, that is to say products or
groups of products which are characteristic of British industries.
The entries in column 1 show the sources of these commodities:
£44,272 million come from British production and £2,458
million, to which must be added £134 million of customs duties,
come from abroad in the form of competitive imports. The
entries in row I show the uses to which these commodities are
put: £20,943 million go to industries as intermediate product;
£13,249 million go to private consumers; £1,761 million go
to public consumers; and so on until, as can be seen from the
entry in column 15, £5,128 million go to the rest of the world
,1] Stone - pag. 35