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Accounting for Nonmarket Household Production within a National Accounts Framework

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  • 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.

Suggested Citation

  • Landefeld, J Steven & McCulla, Stephanie H, 2000. "Accounting for Nonmarket Household Production within a National Accounts Framework," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 46(3), pages 289-307, September.
  • Handle: RePEc:bla:revinw:v:46:y:2000:i:3:p:289-307
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