Chapter

Principles of National Accounting For Nonmarket Accounts

Edited by William D. Nordhaus

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

Published by University of Chicago Press

Published in print July 2006 | ISBN: 9780226410845
Published online February 2013 | e-ISBN: 9780226410876 | DOI: http://dx.doi.org/10.7208/chicago/9780226410876.003.0004
Principles of National Accounting For Nonmarket Accounts

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This chapter considers the major conceptual issues in nonmarket accounting and discusses the major principles that might be used in the design and implementation of a set of augmented national accounts. It recommends that use of the National Economic Accounts (NEA) as a guiding principle for the nonmarket accounts under which nonmarket goods and services are treated as if they were produced and consumed as market activities. This chapter also suggests that augmented national accounts should address major conceptual issues by measuring income and output in ways that best correspond to net economic welfare and they should include both market and nonmarket activities.

Keywords: nonmarket accounting; augmented national accounts; National Economic Accounts; net economic welfare; nonmarket goods

Chapter.  7552 words.  Illustrated.

Subjects: Economic Systems

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