The Income- and Expenditure-Side Estimates of U.S. Output Growth—: An Update to 2011Q2
更新了2010年研究，发现收入侧产出估算（GDI）比支出侧（GDP）更能捕捉经济周期波动，2007-09年衰退比支出侧最初报告更严重，且支出侧估算有向收入侧修正的趋势。
In light of recent large revisions to the official measures of U.S. output, this update reviews the evidence in my 2010 Brookings Paper showing that the income-side estimate of output (currently called gross domestic income, or GDI) likely captures business cycle fluctuations in true output better than its better-known expenditure-side counterpart (called gross domestic product, or GDP). Most notably, over the 2007-09 downturn, the revisions moved the expenditure-side estimates closer to the income-side estimates, which showed that the downturn was considerably worse than reported initially by the expenditure-side estimates. The tendency for the expenditure-side estimates to be revised toward the income-side estimates is clearer now, as is a tendency for the smoothed income-side estimates to be revised away from the smoothed expenditure-side estimates.