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 departed
from the treatment followed in these estimates. The
most important difference lies in the fact that we define consumers’
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 depreciation.
Nevertheless, our estimates of total private consumption
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 consolidation.
The use of fifteen classes of accounts instead of
four is largely dictated by the need to reconcile different classifications.
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 account
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
