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ENDNOTES

  1. In this article, District figures include state-level data for Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.
  2. Chain weights attempt to overcome the problem of relative price changes in goods by using a weighting of prices from the previous two years to calculate the dollar value of goods. Fixed weights, on the other hand, use a single price from a designated base year to calculate the dollar value of goods. For a more detailed description, see Kliesen (1996).
  3. The ratio is calculated by dividing the District sector share by the national sector share and multiplying the result by 100.
  4. See Kliesen (1994) for an overview of the 1990 GSP data.
  5. National GSP differs from GDP in that the former is the sum of the individual states' GSP figures, while the latter is a national figure only. Real GDP grew 3.5 percent in 1994.

REFERENCES

Kliesen, Kevin L. "Chained, Rested and Ready: The New and Improved GDP," The Regional Economist, Federal Reserve Bank of St. Louis (January 1996), pp. 10-11.

__________. "District Economic Update: Will the Sailing Remain Smooth?" The Regional Economist, Federal Reserve Bank of St. Louis (October 1994), pp. 12-13.