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Extended Measures of Investment and Saving

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  • Depta, Peter
  • Ravalli, Frank
  • Harding, Don

Abstract

National accountants treat as consumption all expenditure incurred in purchasing consumer durables and in forming intangible assets such as knowledge, education and good health. The case is made in this paper that the national accounts measures of saving and investment understate both the extent to which we save and the extent of the resources that we allocate to investment. Moreover, the national accounts data do not allow us to monitor substitution between tangible and intangible assets.

Suggested Citation

  • Depta, Peter & Ravalli, Frank & Harding, Don, 1994. "Extended Measures of Investment and Saving," MPRA Paper 3319, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:3319
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    References listed on IDEAS

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    Cited by:

    1. Marc Robinson, 1996. "Can Fiscal Responsibility Legislation be Made to Work?," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 3(4), pages 419-430.
    2. Australian Treasury, 1999. "The measurement of saving in Australia," Economic Roundup, The Treasury, Australian Government, issue 4, pages 21-50, November.
    3. D.P. Chaudhri & E. Wilson, 2000. "Savings, Investment, Productivity and Economic Growth of Australia 1861–1990: Some Explorations," The Economic Record, The Economic Society of Australia, vol. 76(232), pages 55-73, March.
    4. Julie Smith & Lindy Ingham, 2005. "Mothers' Milk And Measures Of Economic Output," Feminist Economics, Taylor & Francis Journals, vol. 11(1), pages 41-62.

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    More about this item

    Keywords

    Saving; Investment; National accounts; Knowledge; Human Capital; Physical Capital; Intangible Capital;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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