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Accounting for Nonmarket Household Production within a National Accounts Framework

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Author Info
Landefeld, J Steven
McCulla, Stephanie H
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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Publisher Info
Article provided by Blackwell Publishing 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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  1. 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 0030, Bureau of Economic Analysis. [Downloadable!]
  2. Edward N. Wolff & Ajit Zacharias, 2003. "The Levy Institute Measure of Economic Well-Being," Economics Working Paper Archive 372, Levy Economics Institute, The. [Downloadable!]
  3. 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. [Downloadable!]
  4. 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). [Downloadable!]
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  5. Merz, Joachim, 2009. "Time Use and Time Budgets – Improvements, Future Challenges and Recommendations," MPRA Paper 16304, University Library of Munich, Germany. [Downloadable!]
  6. 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. [Downloadable!] (restricted)
  7. Yvon H. Pho, 2004. "Volunteer Output and the National Accounts: An Empirical Analysis," BEA Working Papers 0014, Bureau of Economic Analysis. [Downloadable!]
  8. J. Steven Landefeld & Shaunda Villones, 2007. "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. [Downloadable!]
  9. 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. [Downloadable!]
  10. 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. [Downloadable!] (restricted)
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