In exogenous_data.py, GDP (Value) and Real GDP (Value) are built from different base expressions, not just different deflation treatment.
Current formulas:
"GDP (Value)" = get_growth("GDP") * (
Output
- Taxes Less Subsidies in LCU
- Intermediate Inputs Use in LCU
+ initial_taxes_on_products
)
"Real GDP (Value)" = get_growth("GDP") / get_growth("PPI Inflation") * (
Output
- Intermediate Inputs Use in LCU
+ initial_taxes_on_products
)
The real GDP base does not subtract Taxes Less Subsidies in LCU, while nominal GDP does.
This means ratios such as:
na["Household Consumption (Value)"] / na["GDP (Value)"]
na["Real Household Consumption (Value)"] / na["Real GDP (Value)"]
can differ for reasons unrelated to nominal vs real deflation.
Expected behavior:
Real GDP (Value) should be the deflated counterpart of GDP (Value), using a consistent base definition unless there is a documented reason not to.
Suggested fix:
align the base expression used in GDP (Value) and Real GDP (Value), or document why they are intentionally different.
In exogenous_data.py, GDP (Value) and Real GDP (Value) are built from different base expressions, not just different deflation treatment.
Current formulas:
The real GDP base does not subtract Taxes Less Subsidies in LCU, while nominal GDP does.
This means ratios such as:
can differ for reasons unrelated to nominal vs real deflation.
Expected behavior:
Real GDP (Value) should be the deflated counterpart of GDP (Value), using a consistent base definition unless there is a documented reason not to.
Suggested fix:
align the base expression used in GDP (Value) and Real GDP (Value), or document why they are intentionally different.