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Contructing Data for Use in Applied General Equilibrium Models from the U.S. National Income and Product Accounts: An ERS Data Base

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  • Wiese, Arthur M.

Abstract

This report describes and illustrates a method by which a set of total accounts can be constructed from the U.S. National Income and Product Accounts (NIPA). These total accounts can be used in applied general equilibrium models. An appealing feature of the accounting system is that it allows a precise mapping of various components of the NIPA into the relevant markets with which they are associated. To the extent that this results in a more accurate representation of the initial state of the economy, the more reliable will be the results stemming from the imposition of economic models on the data.

Suggested Citation

  • Wiese, Arthur M., 1994. "Contructing Data for Use in Applied General Equilibrium Models from the U.S. National Income and Product Accounts: An ERS Data Base," Staff Reports 278749, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278749
    DOI: 10.22004/ag.econ.278749
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    References listed on IDEAS

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    1. Stone, Richard, 1997. "The Accounts of Society," American Economic Review, American Economic Association, vol. 87(6), pages 17-29, December.
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    3. Stone, Richard, 1986. "Nobel Memorial Lecture 1984: The Accounts of Society," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(1), pages 5-28, January.
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    5. Ballard, Charles L. & Fullerton, Don & Shoven, John B. & Whalley, John, 2009. "A General Equilibrium Model for Tax Policy Evaluation," National Bureau of Economic Research Books, University of Chicago Press, number 9780226036335, October.
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    7. Charles L. Ballard & Don Fullerton & John B. Shoven & John Whalley, 1985. "Introduction to "A General Equilibrium Model for Tax Policy Evaluation"," NBER Chapters, in: A General Equilibrium Model for Tax Policy Evaluation, pages 1-5, National Bureau of Economic Research, Inc.
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    10. Shoven, John B & Whalley, John, 1984. "Applied General-Equilibrium Models of Taxation and International Trade: An Introduction and Survey," Journal of Economic Literature, American Economic Association, vol. 22(3), pages 1007-1051, September.
    11. Carol S. Carson, 1975. "The History Of The United States National Income And Product Accounts: The Development Of An Analytical Tool," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 21(2), pages 153-181, June.
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    1. Wiese, Arthur M., 1995. "On the construction of the total accounts from the U.S. national income and product accounts: How sensitive are applied general equilibrium results to initial conditions?," Journal of Policy Modeling, Elsevier, vol. 17(2), pages 139-162, April.

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