Measurement of Banking Services in the U.S. National Income and Product Accounts: Recent Changes and Outstanding Issues
AbstractIn preparing for the 1999 comprehensive revision of the national income and product accounts (NIPA’s), BEA conducted research focused on two possible changes to the treatment of banking imputation: changing the method for separating "real" (i.e., quantity) changes from price changes for this service, and changing the method for allocating the consumption of the imputed service to the various users of the service. Only the first of these research projects was successful, in the sense that an improved methodology for real banking services was adopted and implemented. This paper summarizes the two research projects, the new methodology, and the outstanding issues.
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Bibliographic InfoPaper provided by Bureau of Economic Analysis in its series BEA Papers with number 0001.
Date of creation: May 2000
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Find related papers by JEL classification:
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
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- Barnett, William A., 1978. "The user cost of money," Economics Letters, Elsevier, vol. 1(2), pages 145-149.
- Dennis Fixler & Kimberly Zieschang, 1999. "The productivity of the banking sector: integrating financial and production approaches to measuring financial service output," Canadian Journal of Economics, Canadian Economics Association, vol. 32(2), pages 547-569, April.
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