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Value Added definition #59
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A comment from @volker-krey (made here) :
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Hi @IAMconsortium/common-definitions-macro-economy
I have a few issues regarding the Value Added variables.
First level of disaggregation: naming
In previous template the disaggregation was Agriculture|Industry|Commercial
I suggest to follow the economic literature going to Agriculture|Industry|Services, Commercial being part of Services:
https://github.com/IAMconsortium/common-definitions/blob/9b964dd199298b0239d8e8bc8e067cb39ebba85c/definitions/variable/macro-economy/tag_econ_sectors.yaml
Added Value definition
I think the definition can be improved, regarding the following:
labor and capital income
labor and capital income including taxes on labor and capital income
labor and capital income plus all government taxes
The later definition can not be easily split at the sectoral level, in the sens than taxes are not only applied from the production side (e.g., tax on the final product). However, the sum of the later is exactly the definition of GDP.
So should we also add an extra Value Added variable so that the sum equals GDP?
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