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Integrated Macroeconomic Accounts for the United States: Draft SNA-USA

Author

Listed:
  • Albert M. Teplin
  • Charles Ian Mead
  • Brent R. Moulton
  • Rochelle Antoniewicz
  • Susan Hume McIntosh
  • Michael G. Palumbo
  • Genevieve Solomon

    (Bureau of Economic Analysis)

Abstract

This paper presents integrated macroeconomic accounts for the United States for the period 1985 to 2002 and discusses issues related to their construction and use. Specifically, it focuses on tying together the national income and product accounts (NIPAs) and international transaction accounts (ITA) published by the Bureau of Economic Analysis and the flow of funds accounts (FFA) published by the Federal Reserve Board. The paper provides integrated accounts for seven sectors: households and nonprofit organizations serving households, nonfinancial non-corporate businesses, nonfinancial corporate businesses, financial businesses, federal government, state and local governments, and the rest of the world. Each sector table has a full complement of accounts: current accounts (production and income accounts), accumulation accounts (capital account, financial account, and other changes in volume account), revaluation account, and balance sheet account. As a result, the sector statements trace the factors leading to changes in sector net worth. Relative to current publications of the two agencies, the tables go quite a bit further toward providing for the United States the sequence of accounts suggested in the System of National Accounts 1993 (SNA93), the recognized international standard. The tables use official data as of June 10, 2004; however, a few series have been created by the authors, and they are unofficial preliminary estimates at this time.

Suggested Citation

  • Albert M. Teplin & Charles Ian Mead & Brent R. Moulton & Rochelle Antoniewicz & Susan Hume McIntosh & Michael G. Palumbo & Genevieve Solomon, 2005. "Integrated Macroeconomic Accounts for the United States: Draft SNA-USA," BEA Papers 0051, Bureau of Economic Analysis.
    • Handle: RePEc:bea:papers:0051
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    References listed on IDEAS

    as
    1. J. Steven Landefeld & Bruce T. Grimm, 2001. "Revisions to GDP," BEA Papers 0013, Bureau of Economic Analysis.
    2. John F. Wilson & James L. Freund & Frederick O. Yohn, Jr & Walther Lederer, 1989. "Measuring Household Saving: Recent Experience from the Flow-of-Funds Perspective," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 101-152, National Bureau of Economic Research, Inc.
    3. Kishori Lal, 2003. "Measurement of Output, Value Added, GDP in Canada and the United States: Similarities and Differences," OECD Statistics Working Papers 2003/4, OECD Publishing.
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    Citations

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    Cited by:

    1. Matthew J. Eichner & Donald L. Kohn & Michael G. Palumbo, 2010. "Financial statistics for the United States and the crisis: what did they get right, what did they miss, and how should they change?," Finance and Economics Discussion Series 2010-20, Board of Governors of the Federal Reserve System (U.S.).
    2. Dale W. Jorgenson & J. Steven Landefeld, 2009. "Implementation of a New Architecture for the US National Accounts," American Economic Review, American Economic Association, vol. 99(2), pages 64-68, May.
    3. Michael G. Palumbo & Jonathan A. Parker, 2009. "The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?," American Economic Review, American Economic Association, vol. 99(2), pages 80-86, May.
    4. Jorgenson, Dale W. & Goettle, Richard J. & Ho, Mun S. & Wilcoxen, Peter J., 2013. "Energy, the Environment and US Economic Growth," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 477-552, Elsevier.
    5. Michel Boutillier & Nathalie Lévy & Valérie Oheix, 2007. "Financial intermediation in developed countries:heterogeneity, lengthening and risk transfer [Intermédiation financière dans les pays développés : hétérogénéité, allongement et transfert de risque]," Working Papers hal-03929054, HAL.

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    More about this item

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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