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An Extended Measure Of Government Product: Preliminary Results For The United States, 1946–76

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  • Robert Eisner
  • David H. Nebhut

Abstract

Expanded measures of government output include imputed values of the services of government capital, uncompensated factor services of military draftees and jurors, and net revaluations, as well as the usually included compensation of employees. The government output is allocated to consumption, capital formation and product intermediate to other sectors, on the basis of its classification in ten broad functions: defense, space research, education, health, sanitation, transportation, parks and recreation, natural resources, welfare, and general administration. Final government product in 1976, including $116 billion in defense and $125 billion in education, amounted to $450.5 billion, which was 26.5 percent of the 1976 GNP. This final government product corresponded to the BEA measure of $191.6 billion. Total capital formation related to government is defined to include both government product which enters into capital formation in other sectors and government expenditures for its own capital accumulation. After a more rapid rate of growth in previous years, this total government capital formation in the United States in 1976 is found to exceed gross private domestic investment. A significant but only minor portion was found to be constituted by government expenditures for capital goods and change in government inventories. Investment in research and development, health and, particularly, education and training, were dominant components in capital formation related to government.

Suggested Citation

  • Robert Eisner & David H. Nebhut, 1981. "An Extended Measure Of Government Product: Preliminary Results For The United States, 1946–76," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(1), pages 33-64, March.
    • Handle: RePEc:bla:revinw:v:27:y:1981:i:1:p:33-64
    DOI: 10.1111/j.1475-4991.1981.tb00191.x
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    Cited by:

    1. Wynne, Mark A., 1996. "Balanced budget multipliers," Journal of Macroeconomics, Elsevier, vol. 18(2), pages 197-211.
    2. Daniel Landau, 1985. "Government expenditure and economic growth in the developed countries: 1952–76," Public Choice, Springer, vol. 47(3), pages 459-477, January.
    3. Robert Eisner, 1984. "Transfers in a Total Incomes System of Accounts," NBER Chapters, in: Economic Transfers in the United States, pages 9-36, National Bureau of Economic Research, Inc.
    4. Semieniuk, Gregor, 2024. "Inconsistent definitions of GDP: Implications for estimates of decoupling," Ecological Economics, Elsevier, vol. 215(C).
    5. Mark A. Wynne, 1992. "The analysis of fiscal policy in neoclassical models," Working Papers 9212, Federal Reserve Bank of Dallas.

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