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Measuring the Subjective Well-Being of NationsNational Accounts of Time Use and Well-Being$
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Alan B. Krueger

Print publication date: 2009

Print ISBN-13: 9780226454566

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226454573.001.0001

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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

National Time Accounting and National Economic Accounting

National Time Accounting and National Economic Accounting

Chapter:
(p.113) 4 National Time Accounting and National Economic Accounting
Source:
Measuring the Subjective Well-Being of Nations
Author(s):
J. Steven Landefeld, Shaunda Villones
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226454573.003.0005

This chapter provides a comparison of the National Time Accountings (NTAs) to the U.S. national economic accounts, that is, the National Income and Products Accounts (NIPAs). Like the NIPAs, which are a comprehensive measure of market activity and its components, the NTAs are designed as a comprehensive measure of total utility and its parts. The NTAs avoid the long-standing problem of many well-being indicators that put a subjective value, or weight, on the various indicators used to develop an index of well-being. Although the NTAs are not a double-entry accounting system, they can be imagined as being combined with a set of household production accounts to produce a set of input-output accounts. If the U-index or net affect indexes change slowly, then the NTAs probably do not need to be constructed or released in as timely a manner as the NIPAs.

Keywords:   National Time Accountings, NTAs, National Income and Products Accounts, NIPAs, market activity, well-being indicators, double-entry accounting system, U-index

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