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A New Architecture for the U.S. National Accounts.

A New Architecture for the US. National Accounts, edited by Dale W. Jorgenson, J. Steven Landefeld, and William D. Nordhaus, is available from the University of Chicago Press this spring for $99.00. To order this volume, contact: University of Chicago Press, Order Department, 11030 South Langley Avenue, Chicago, IL 60628-2215, or 1-800-621-2736. Academic discounts are available.

This NBER volume, part of the series of Studies in Income and Wealth (No. 66), brings together a distinguished group of contributors to initiate the development of a comprehensive and fully integrated set of U.S. national accounts. The purpose of that new architecture is not only to integrate the existing systems of accounts, but also to identify gaps and inconsistencies and to expand and incorporate systems of non-market accounts with the core system.

Because the U.S. economy represents almost 30 percent of the world economy, it is not surprising that accounting for this huge and diverse set of economic activities requires a decentralized statistical system. This volume outlines the major assignments among institutions, including the Bureau of Economic Analysis, the Bureau of Labor Statistics, the Department of Labor, the Census Bureau, and the Governors of the Federal Reserve System. One important part of the motivation for the new architecture is to integrate the different components and to make them consistent. This volume is the first step toward achieving that goal.

Jorgenson is the Samuel W. Morris University Professor of Economics at Harvard University. Landefeld is the Director of the Bureau of Economic Analysis. Nordhaus is an NBER Research Associate in the Program on Productivity and the Sterling Professor of Economics at Yale University.
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Title Annotation:Bureau Books
Publication:NBER Reporter
Geographic Code:1USA
Date:Mar 22, 2006
Previous Article:NBER Macroeconomics Annual 2005.
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