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Accounting for Nonmarket Household Production within a National Accounts Framework

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  • Landefeld, J Steven
  • McCulla, Stephanie H
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    Abstract

    The satellite accounts illustrated in this paper reflect the household's role as a producer and an investor in durables as well as a consumer by modifying the NIPA's to (1) incorporate the value of nonmarket (unpaid) household work into GDP; and (2) treat expenditures on consumer durables as investment and measure the value of the services those durables provide. Additionally, an Input-Output (I-0) model highlights the household's functions as a producer and investor in much greater detail for the year 1992 by incorporating a household industry for each time-use activity and by showing the inputs to and outputs from each household industry's production. Copyright 2000 by The International Association for Research in Income and Wealth.

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    Bibliographic Info

    Article provided by International Association for Research in Income and Wealth in its journal Review of Income & Wealth.

    Volume (Year): 46 (2000)
    Issue (Month): 3 (September)
    Pages: 289-307

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    Handle: RePEc:bla:revinw:v:46:y:2000:i:3:p:289-307

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    Cited by:
    1. Katharine G. Abraham, 2005. "Distinguished Lecture on Economics in Government—What We Don't Know Could Hurt Us: Some Reflections on the Measurement of Economic Activity," Journal of Economic Perspectives, American Economic Association, vol. 19(3), pages 3-18, Summer.
    2. Ajit Zacharias, 2011. "The Levy Institute Measure of Economic Well-Being, Great Britain, 1995 and 2005," Economics Working Paper Archive wp_668, Levy Economics Institute, The.
    3. Matthew D. Atkinson, 2003. "A Computational Routine for Disaggregating Industry Margin Data to Estimate Product Margin Rates," BEA Papers 0030, Bureau of Economic Analysis.
    4. J. Steven Landefeld & Shaunda Villones, 2009. "National Time Accounting and National Economic Accounting," NBER Chapters, in: Measuring the Subjective Well-Being of Nations: National Accounts of Time Use and Well-Being, pages 113-123 National Bureau of Economic Research, Inc.
    5. Bos, Frits, 2009. "The National Accounts as a Tool for Analysis and Policy; History, Economic Theory and Data Compilation Issues," MPRA Paper 23582, University Library of Munich, Germany.
    6. D.P. Doessel & Ruth F.G. Williams, 2012. "The New Welfare Measures," Working Papers 2012.07, School of Economics, La Trobe University.
    7. J. Steven Landefeld & Barbara M. Fraumeni & Cindy M. Vojtech, 2005. "Accounting for Nonmarket Production: A Prototype Satellite Account Using the American Time Use Survey," BEA Papers 0056, Bureau of Economic Analysis.
    8. Reuben Gronau & Daniel S. Hamermesh, 2003. "Time Vs. Goods: The Value of Measuring Household Production Technologies," NBER Working Papers 9650, National Bureau of Economic Research, Inc.
    9. Merz, Joachim, 2009. "Time Use and Time Budgets – Improvements, Future Challenges and Recommendations," MPRA Paper 16304, University Library of Munich, Germany.
    10. Ezequiel Uriel Jiménez & Javier Ferri & María Luisa Moltó Carbonell, 2005. "Estimation Of An Extended Sam With Household Production For Spain 1995," Working Papers. Serie EC 2005-08, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    11. Edward N. Wolff & Ajit Zacharias, 2007. "The Levy Institute Measure of Economic Well-Being United States, 1989-2001," Eastern Economic Journal, Eastern Economic Association, vol. 33(4), pages 443-470, Fall.
    12. Bos, Frits, 2011. "Three centuries of macro-economic statistics," MPRA Paper 35391, University Library of Munich, Germany.
    13. Cathleen Zick & W. Bryant & Sivithee Srisukhumbowornchai, 2008. "Does housework matter anymore? The shifting impact of housework on economic inequality," Review of Economics of the Household, Springer, vol. 6(1), pages 1-28, March.
    14. Edward N. Wolff & Ajit Zacharias & Hyunsub Kum, 2006. "Net Government Expenditures and the Economic Well-Being of the Elderly in the United States, 1989-2001," Economics Working Paper Archive wp_466, Levy Economics Institute, The.
    15. Benjamin Bridgman, 2013. "Home Productivity," BEA Working Papers 0091, Bureau of Economic Analysis.
    16. Carol A. Corrado & Charles R. Hulten, 2013. "Financial Intermediation in the National Accounts: Asset Valuation, Bubbles, and Tobin′s q," NBER Chapters, in: Measuring Wealth and Financial Intermediation and Their Links to the Real Economy National Bureau of Economic Research, Inc.

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