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Measurement of Banking Services in the U.S. National Income and Product Accounts: Recent Changes and Outstanding Issues


  • Brent R. Moulton

    (Bureau of Economic Analysis)


In 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.

Suggested Citation

  • Brent R. Moulton, 2000. "Measurement of Banking Services in the U.S. National Income and Product Accounts: Recent Changes and Outstanding Issues," BEA Papers 0001, Bureau of Economic Analysis.
  • Handle: RePEc:bea:papers:0001

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    References listed on IDEAS

    1. 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.
    2. Barnett, William A., 1978. "The user cost of money," Economics Letters, Elsevier, vol. 1(2), pages 145-149.
    3. Donal J. Donovan, 1978. "Modeling the Demand for Liquid Assets: An Application to Canada (Etablissement d'un modèle de demande d'actifs liquides: application au Canada) (Construcción de un modelo de demanda de activos líqu," IMF Staff Papers, Palgrave Macmillan, vol. 25(4), pages 676-704, December.
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    Cited by:

    1. Robert M. Hunt, 2010. "Business Method Patents And U.S. Financial Services," Contemporary Economic Policy, Western Economic Association International, vol. 28(3), pages 322-352, July.

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    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General


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