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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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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 22 September 2021

A Framework for Nonmarket Accounting

A Framework for Nonmarket Accounting

(p.161) 4 A Framework for Nonmarket Accounting
A New Architecture for the U.S. National Accounts
Katharine G. Abraham, Christopher Mackie
University of Chicago Press

This chapter summarizes the result of a comprehensive survey of nonmarket accounting conducted by the Committee on National Statistics (CNStat) of the U.S. National Academies. It favors modeling nonmarket accounts on the core system of national accounts, preserving double-entry bookkeeping and relying on market transactions insofar as possible in the valuation of nonmarket inputs and outputs. This chapter also argues in favor of developing a systematic accounting of nonmarket activity to complement the existing national income and product accounts (NIPAs).

Keywords:   nonmarket accounting, CNStat, U.S. National Academies, national accounts, double-entry bookkeeping, market transactions, NIPAs

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