The U.S. National Income and Product Accounts: Selected by Murray F. Foss

By Murray F. Foss

The most issues handled during this convention quantity are difficulties of deflation and caliber swap, the adequacy of the information used to build the U.S. nationwide money owed, and the extensive theoretical evolution of the U.S. nationwide source of revenue and product money owed. As those issues recommend, this quantity represents a brand new level within the learn of nationwide source of revenue and product money owed in that emphasis is put on the data content material of the process instead of at the constitution of the debts. This new emphasis is highlighted through the inclusion of a dialogue between renowned clients of the nationwide accounts—Lawrence Klein, Otto Eckstein, Alan Greenspan, and Arthur Okun—that exhibits the problems that confront those that make the most of this data.

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Additional resources for The U.S. National Income and Product Accounts: Selected Topics (National Bureau of Economic Research Studies in Income and Wealth)

Example text

5 The Report of the National Accounts Review Committee (1957) In 1956, the Office of Statistical Standards of the Bureau of the Budget requested that the National Bureau of Economic Research form a National Accounts Review Committee to (1) provide a review and evaluation of the national income and related accounts, and (2) devise a program for improving the accounts. To a major extent, this committee based its work on Jaszi's paper for the 1955 Conference on Income and Wealth, and expanded on his view of the national income accounts as the central core of a more general national economic accounting system.

For example, the European Community has developed the European System of Accounts, an adaptation of SNA that in essence provides full sets of accounts for both institutional sectors and industry branches. S. system. S. accounts, the revised SNA has to date had httle impact. S. N. National Accounts Questionnaire. N. work has, furthermore, had more impact on concepts and definitions, as was noted above in connection with consumer interest. 8 The 1971 Conference on Income and Wealth The 1971 Conference on Income and Wealth was concerned with the adequacy of the national income accounts for measuring economic and social performance.

To a major extent, this committee based its work on Jaszi's paper for the 1955 Conference on Income and Wealth, and expanded on his view of the national income accounts as the central core of a more general national economic accounting system. They endorsed Jaszi's proposal for thefive-accountsystem, and urged the development of a more comprehensive system of economic accounts in which input-output, flow of funds, balance of payments accounts, and national balance sheets would be fully integrated with the national income accounts.

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