By Dale W. Jorgenson, J. Steven Landefeld, Visit Amazon's William D. Nordhaus Page, search results, Learn about Author Central, William D. Nordhaus,

A brand new structure for the U.S. nationwide money owed brings jointly a distinct staff of participants to start up the advance of a finished and entirely built-in set of usa nationwide debts. the aim of the recent structure is not just to combine the prevailing structures of money owed, but additionally to spot gaps and inconsistencies and extend and contain platforms of nonmarket debts with the middle system.  because the usa economic system debts for nearly thirty percentage of the realm economic system, it's not spectacular that accounting for this massive and numerous set of monetary actions calls for a decentralized statistical approach. This quantity outlines the foremost assignments between associations that come with the Bureau of financial research, the Bureau of work information, the dep. of work, the Census Bureau, and the Governors of the Federal Reserve System.  an incredible a part of the incentive for the hot structure is to combine the various elements and cause them to constant. This quantity is step one towards attaining that objective.

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Extra resources for A New Architecture for the U.S. National Accounts (National Bureau of Economic Research Studies in Income and Wealth)

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S. 0 20 Dale W. Jorgenson and J. 1 (continued) Row No. Account 6. Domestic Capital Account 1 Gross domestic investment 2 Private fixed investment (1-20) 3 Government fixed investment (1-29) 4 Change in private inventories (1-25) 5 Capital account transactions (net) (7-2) 6 Net lending or net borrowing (–), national income and product accounts (7-3) 7 GROSS DOMESTIC INVESTMENT, CAPITAL ACCOUNTS TRANSACTIONS, AND NET LENDING 8 Net saving 9 Personal saving (3-8) 10 Undistributed corporate profits with inventory valuation and capital consumption adjustments (2-17) 11 Wage accruals less disbursements (private) (1-4) 12 Net government saving (4-10) 13 Plus: Consumption of fixed capital (1-11) 14 Private 15 Government 16 General government 17 Government enterprises 18 Equals: Gross saving 19 Statistical discrepancy (1-13) 20 GROSS SAVING AND STATISTICAL DISCREPANCY Account 7.

There is a long-standing debate in the economic literature on the opportunity cost of government capital, which includes suggestions to use the household rate of return, the government borrowing rate, the rate of return to business, or some weighted average rate. Also, there are significant empirical difficulties in determining the appropriate values for these alternative rates. What government borrowing rate, for example, should one use— short-term rates, long-term rates, or some weighted average—and over what time period?

3 The BEA’s Other Flow Accounts BEA international and regional accounts map into the NIPAs, providing further detail on the associated components that appear in the NIPAs. The concepts, source data, and methods used are generally consistent across the accounts, although there are still some differences and reconciliation tables are available to compare the alternative estimates. The remaining differences largely reflect the differing needs in these areas. These differences have been reduced over time, particularly in the international area, as a result of efforts to harmonize the IMF’s balance-of-payments manual and SNA 1993.

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