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Rebasing of national accounts series means replacing the old base year used for compiling the constant price estimates to a new and more recent base year. In principle, a change of base year in the national accounts implies

(a) changing the price and quantity base for the individual price and quantity relatives, and

(b) updating the weights used in aggregating the individual quantity relatives into sub-indices.

At the same time, it serves to reconcile the different estimates of gross domestic product (GDP) and provides the occasion for methodological and conceptual reviews and improvements.

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