Description

As from issue number 50, the Series of Economic Studies of the Central Bank of Chile will be called Studies in Economic Statistics.

The new 2008 benchmark compilation for measuring national accounts establishes the statistical framework to compile the main macroeconomic variables of the Chilean economy. This new benchmark introduces several innovations in both methods and sources of information with respect to the previous 2003 benchmark, which causes revisions to previously published estimates. Along with the 2008 benchmark compilation, a new method for volume measures, based on chained moving bases, is introduced, in replacement of the previous fixed base method. As a result, new annual and quarterly national accounts, and the monthly economic indicator (Imacec) are presented for the period 2003-2011 (for this purpose a detailed splicing method consistent with the new benchmark was used). Methodologies underpinning the new set of national accounts are described in the present document.