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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: 04 August 2021

Integrating Industry and National Economic Accounts

Integrating Industry and National Economic Accounts

First Steps and Future Improvements

(p.215) 6 Integrating Industry and National Economic Accounts
A New Architecture for the U.S. National Accounts
Ann M. Lawson, Brian C. Moyer, Sumiye Okubo, Mark A. Planting
University of Chicago Press

This chapter discusses the first steps and future improvements in the integration of industry and national economic accounts. It highlights the efforts of the U.S. Bureau of Economic Analysis to integrate the gross domestic product (GDP)-by-industry, annual input-output (I-O), and benchmark I-O programs within the industry accounts and to integrate industry accounts with the National Income and Product Accounts (NIPAs). The analysis reveals that the best results can be obtained when balancing in both purchasers' and basic prices and that providing fixed estimates of value added and working at the detailed source data level both improve final results.

Keywords:   national economic accounts, industry accounts, GDP-by-industry, input-output programs, NIPAs, U.S. Bureau of Economic Analysis, purchasers' prices, basic prices

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