The U.S. National Income and Product Accounts

by Foss, Murray F.; Conference on National Income and Product Accounts of the United States (1979 : Washington, D. C.)

• ISBN13: 9780226257280
• ISBN10: 0226257282
• Format: Hardcover
• Copyright: 1983-01-01
• Publisher: Univ of Chicago Pr

Summary

The main topics treated in this conference volume are problems of deflation and quality change, the adequacy of the data used to construct the U.S. national accounts, and the broad theoretical evolution of the U.S. national income and product accounts. As these topics suggest, this volume represents a new stage in the study of national income and product accounts in that emphasis is placed on the information content of the system rather than on the structure of the accounts. This new emphasis is highlighted by the inclusion of a discussion among prominent users of the national accounts--Lawrence Klein, Otto Eckstein, Alan Greenspan, and Arthur Okun--that indicates the difficulties that confront those who utilize this information.

Author Biography

Murray F. Foss is Visiting Scholar at the American Enterprise Institute.

Table of Contents

Prefatory

Note

Introduction

The United States National Income Accounts, 1947-1977: Their Conceptual Basis and Evolution Richard Ruggles Comment: Helen Stone Tice Comment

Quality Adjustment in the Producer Price Indexes

Deflation of Defense Purchases

Energy Efficiency, User-Cost Change, and the Measurement of Durable Goods Prices

Concepts of Quality in Input and Output Price Measures: A Resolution of the User-Value Resource-Cost Debate

Round Table of GNP Users Written Statements Introductory Statement: Edward F. Denison The NIPA Accounts: A User's View: Otto Eckstein Weekly GNP: Alan Greenspan NIPA Statistics: A User's View: Lawrence Klein The National Accounts in an Inflationary World: Arthur M. Okun Discussion Among Panelists (Denison, Greenspan, Klein, Sigel) From Floor (Bassie, Eisner, Hymans)

The Impact of the 1976 NIPA Benchmark Revision on the Structure and Predictive Accuracy of the BEA Quarterly Econometric Model Bruce T. Grimm and Albert A. Hirsch Comment

The GNP Data Improvement Project (The Creamer Report) Overview and Business Cycle Perspective Morris Cohen Comment: Rosanne Cole The GNP Data Improvement Report from the Perspective of Its Use to Measure Economic Growth Ronald E. Kutscher Comment: John W. Kendrick Data Needs in Flow of Funds John A. Gorman Comment: Stephen Taylor The Improvement of Price Data Albert Rees Some Comments on Papers on the Creamer Report Daniel Creamer A Bureau of Economic Analysis Perspective

Contributors

Author Index

Subject Index

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