IEA: Empirical Analysis and Charts (documents)

Empirical Analysis and Charts
Annotated List of Documents

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Empirical Analysis and Charts
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Most of the accompanying explanatory and analytical texts for these studies are not yet online, and most of the data obviously badly need updating. But because they illustrate the IEA empirical approach to structural and functional analysis, they are included here as a challenge to others to join in the updating. IEA would be glad to cooperate in any such enterprise.

How to Read the Economy Through IEA Charts (1976)
This two-part document, which was provided to every IEA subscriber, explains how IEA analytically viewed the economy through its unique charts of key indicators.
- How the Economy Works
  A description of the analytical and conceptual framework -- differing in several key respects from the traditional "Keynesian," "monetarist," and "business cycle" economic theories -- which underlies the selection and presentation of indicators used in IEA's charts.
- A Brief Description of IEA Indicators
  A description of the key measures of economic performance, and the analytical ratios that show the economy's basic structural relationships, which appear in the charts.
- The Full-Employment Growth-Trend Conceptual Framework
  Although not a formal part of the "How to Read..." document, this article's diagram and definitions constitute an essential companion piece, providing a more functionally-precise perspective than is commonly available on recession, depression, stagnation and recovery, and recovery-policy implications.
IEA Pocket Charts -- Key Indicators of Economic Performance and Relationships. (12/79)
Web reproduction of selected chart panels from IEA's analytically and technically sophisticated compact monthly chartbook -- which included over 120 series for a 15 year span, in eight 5 1/2" x 8 1/2" pages.
- How to Read IEA Charts -- Web-adapted version of a handout that went out with every subscription to IEA Pocket Charts, explaining the conventions used in, and useful analytical characteristics of, the charts.
- Monthly charts
- "Pile-up" charts showing structural (% of total) changes in components, 1947-77
  - GNP -- Expenditure Side
  - GNP -- Income Side
  - Primary Debt -- Credit Uses
  - Household Credit Assets and Money Supply -- Credit Sources
A New Measure of the Monetary "Velocity" (Stock/Flow) Ratio and Its Implications for Monetary Policy and Economic Forecasting (6/77)
IEA Special Report #2
This article discusses IEA's work in developing a "stable" measure of GNP for use in the Money Demand Stock/Flow Ratio that is central to IEA's conceptural framework for economic analysis and management. It was necessary to remove the functionally inappropriate effects of residual seasonal factors (in "seasonally adjusted" data) and inventory investment variations.

IDMF Primary Credit Derivation from Flow of Funds Accounts
Illustrative tables using two quarters of 1977 FOFA data.
- Primary Borrowing to finance GDP spending (funds raised) -- Primary Credit DEMAND
  (see IEA Pocket Charts, Panel 11 and R-11A).
- Primary Financial Saving out of income -- Primary Credit SUPPLY
  (see IEA Pocket Charts, Panel 16).
Estimating the Effects of 4% Unemployment on the Federal Deficit -- Chart (12/94)
Result -- each 1% increase in unemployment increases the deficit by about 0.7% of GDP.

Last revised: January 17, 2010

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