Chapter

A Framework for Nonmarket Accounting

Edited by Katharine G. Abraham and Christopher Mackie

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/9780226410876.003.0005
A Framework for Nonmarket Accounting

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This chapter summarizes the result of a comprehensive survey of nonmarket accounting conducted by the Committee on National Statistics (CNStat) of the U.S. National Academies. It favors modeling nonmarket accounts on the core system of national accounts, preserving double-entry bookkeeping and relying on market transactions insofar as possible in the valuation of nonmarket inputs and outputs. This chapter also argues in favor of developing a systematic accounting of nonmarket activity to complement the existing national income and product accounts (NIPAs).

Keywords: nonmarket accounting; CNStat; U.S. National Academies; national accounts; double-entry bookkeeping; market transactions; NIPAs

Chapter.  14773 words. 

Subjects: Economic Systems

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