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A New Architecture for the U.S. National Accounts$
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Dale W. Jorgenson, J. Landefeld, and William D. Nordhaus

Print publication date: 2006

Print ISBN-13: 9780226410845

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226410876.001.0001

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An Integrated BEA/BLS Production Account

An Integrated BEA/BLS Production Account

A First Step and Theoretical Considerations

(p.355) 9 An Integrated BEA/BLS Production Account
A New Architecture for the U.S. National Accounts
Barbara M. Fraumeni, Michael J. Harper, Susan G. Powers, Robert E. Yuskavage
University of Chicago Press

This chapter examines the similarities and differences between output measures produced by the U.S. Bureau of Economic Analysis and the Bureau of Labor Statistics. It describes framework for the production account that incorporates data on the production of commodities by individual industries, as well as the interindustry flows available in the input-output accounts. This chapter analyzes theoretical foundation for a production account that can be used to analyze productivity and shows the relationship between gross domestic product (GDP) and the major-sector estimates using the production account framework.

Keywords:   output measures, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, interindustry flow, input-output accounts, production account, gross domestic product

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