scholarly journals Distributional National Accounts: Methods and Estimates for the United States

2016 ◽  
Author(s):  
Thomas Piketty ◽  
Emmanuel Saez ◽  
Gabriel Zucman
Keyword(s):  
United States ◽  
The United States ◽  
National Accounts

scholarly journals Environmental Accounting for Pollution in the United States Economy

2011 ◽  
Vol 101 (5) ◽  
pp. 1649-1675 ◽  
Author(s):  
Nicholas Z Muller ◽  
Robert Mendelsohn ◽  
William Nordhaus
Keyword(s):  
United States ◽  
Air Pollution ◽  
Power Plants ◽  
Sewage Treatment ◽  
Value Added ◽  
The United States ◽  
Environmental Accounting ◽  
Integrated Assessment Model ◽  
Assessment Model ◽  
National Accounts

This study presents a framework to include environmental externalities into a system of national accounts. The paper estimates the air pollution damages for each industry in the United States. An integrated-assessment model quantifies the marginal damages of air pollution emissions for the US which are multiplied times the quantity of emissions by industry to compute gross damages. Solid waste combustion, sewage treatment, stone quarrying, marinas, and oil and coal-fired power plants have air pollution damages larger than their value added. The largest industrial contributor to external costs is coal-fired electric generation, whose damages range from 0.8 to 5.6 times value added. (JEL E01, L94, Q53, Q56)

scholarly journals Distributional National Accounts: Methods and Estimates for the United States*

2017 ◽  
Vol 133 (2) ◽  
pp. 553-609 ◽  
Author(s):  
Thomas Piketty ◽  
Emmanuel Saez ◽  
Gabriel Zucman
Keyword(s):  
United States ◽  
The United States ◽  
National Accounts

Chapter III. The World Economy

1976 ◽  
Vol 75 ◽  
pp. 33-63
Keyword(s):  
United States ◽  
United Kingdom ◽  
Industrial Production ◽  
World Economy ◽  
Good Deal ◽  
The United States ◽  
National Accounts ◽  
Industrial Countries ◽  
The United Kingdom ◽  
The World

The fall in output in the industrial countries in 1975 was substantially greater than we and most other observers foresaw a year ago.After big revisions of the national accounts for the United States, the fall in aggregate output in the member countries of OECD now works out a good deal smaller on our estimates than it did in November. But the final figure still seems likely to be close to 1¾ per cent, compared with our February forecast of ½ per cent. For industrial production we were much wider of the mark, the actual decline being 8–9 per cent as against the 2 per cent that we predicted. Geographically our error was heavily concentrated among the major European countries including the United Kingdom—on the latest figures we actually under-predicted United States output by a substantial amount—and it appears to have sprung from two main sources.

Chapter II. The World Economy

1991 ◽  
Vol 136 ◽  
pp. 34-59
Author(s):  
Andrew Gurney ◽  
Jan Willem In't Veld ◽  
Ray Barrell
Keyword(s):  
United States ◽  
Monetary Policy ◽  
United Kingdom ◽  
Interest Rates ◽  
World Economy ◽  
The United States ◽  
National Accounts ◽  
Short Term ◽  
Percentage Points ◽  
The World

GNP growth in the major seven economies continues to decline from the cyclical peak reached in 1988. The latest national accounts statistics show that all major seven economies are now growing more slowly than they did last year, with the United States, United Kingdom and Canada in recession. This slowdown in activity appears to have been caused primarily by the tightening of monetary policy that occurred between 1988 and 1990. Short-term interest rates rose by 4.4 percentage points in Germany between 1987 and 1990, by 3 percentage points in Japan between 1987 and 1990, and by 2.2 per cent in the United States between 1987 and 1989.

Trying to Understand the PPPs in ICP 2011: Why Are the Results So Different?

2017 ◽  
Vol 9 (1) ◽  
pp. 243-264 ◽  
Author(s):  
Angus Deaton ◽  
Bettina Aten
Keyword(s):  
United States ◽  
International Development ◽  
Purchasing Power Parity ◽  
The United States ◽  
Living Standards ◽  
The European Union ◽  
National Accounts ◽  
Western Asia ◽  
The World ◽  
Penn World Table

Purchasing power parity exchange rates, or PPPs, are price indexes that summarize prices in each country relative to a numeraire country, typically the United States. These numbers are used to compare living standards across countries, by academics in studies of economic growth, particularly through the Penn World Table, by the World Bank to construct measures of global poverty, by the European Union to redistribute resources, and by the international development community to draw attention to discrepancies between rich and poor countries. The International Comparison Program (ICP) collects the detailed prices on which these indexes are based on an irregular basis. In 2014, the ICP published PPPs from the 2011 round that are sharply different from those that were expected from extrapolation of the previous round, ICP 2005. These discrepancies will eventually have important implications for the Penn World Table, and for international comparisons of living standards given that the PPPs are used to convert countries’ national accounts—GDP and consumption, for example—from local currency to common currency units (international dollars.) The world according to ICP 2011 looks markedly more equal than the world according to ICP 2005. This paper investigates why this happened. We identify a likely source of the problem in the way that the regions of the ICP were linked in 2005. We use two different methods for measuring the size of the effect. Both suggest that the 2005 PPPs for consumption for countries in Asia (excluding Japan), Western Asia, and Africa were overstated relative to the United States by between 18 to 26 percent. Per capita consumption in international dollars of these countries was therefore too low in 2005 and more likely to be accurately estimated in 2011. (JEL E31, F31, I31, I32, O11, O19)

scholarly journals Taking the Pulse of the Economy: Measuring GDP

2008 ◽  
Vol 22 (2) ◽  
pp. 193-216 ◽  
Author(s):  
J. Steven Landefeld ◽  
Eugene P Seskin ◽  
Barbara M Fraumeni
Keyword(s):  
United States ◽  
Service Sector ◽  
Census Data ◽  
Measurement Techniques ◽  
The United States ◽  
Economic Indicators ◽  
National Accounts ◽  
Related Data ◽  
Other Information ◽  
Economic Census

This article provides a broad overview of the measurement techniques used in estimating GDP and the national accounts in the United States. In the United States, the GDP and the national accounts estimates are fundamentally based on detailed economic census data and other information that is available only once every five years. The challenge lies in developing a framework and methods that take these economic census data and combine them using a mosaic of monthly, quarterly, and annual economic indicators to produce quarterly and annual GDP estimates. One problem is that the other economic indicators that are used to extrapolate GDP in between the five-year economic census data—such as retail sales, housing starts, and manufacturers shipments of capital goods— are often collected for purposes other than estimating GDP and may embody definitions that differ from those used in the national accounts. Another problem is some data are simply not available for the earlier estimates in the reporting process. For the initial monthly estimates of GDP, data on about 25 percent of GDP—especially in the service sector—are not available, and so these sectors of the economy are estimated based on past trends and whatever related data are available. The initial monthly GDP estimates based on these extrapolations are revised as more complete data become available In producing the national accounts estimates, the Bureau of Economic Analysis attempts to strike a balance between accuracy and timeliness so that the estimates can be used to monitor real overall economic growth and inflation, as well as major sectors of interest.

Book Reviews

2013 ◽  
Vol 51 (2) ◽  
pp. 572-573 ◽  
Keyword(s):  
United States ◽  
Air Pollution ◽  
Assistant Professor ◽  
The United States ◽  
Regulatory Regime ◽  
National Accounts ◽  
Yale University ◽  
Power Generators ◽  
Sulfur Dioxide Emissions ◽  
Pollution Impacts

Art Fraas, Randall Lutter of Resources for the Future reviews, “Using Marginal Damages in Environmental Policy: A Study of Air Pollution in the United States” by Nicholas Z. Muller and Robert Mendelsohn. The Econlit abstract of this book begins: “Considers the opportunity to improve its air pollution regulatory regime in the United States by reforming its current regulations to be more economically efficient. Discusses the theory of environmental regulation; air quality modeling; modeling air pollution impacts; calculating the marginal damages of air pollution; statistical uncertainty; a case study of efficient pollution control—sulfur dioxide emissions from coal-fired electric power generators; setting regulatory priorities using net marginal damages; the gross external damages from air pollution in the United States; the gross external damages from air pollution by sector; and green accounting, including air pollution damages in national accounts. Muller is Assistant Professor in the Department of Economics and the Environmental Studies Program at Middlebury College. Mendelsohn is Edwin Weyerhaeuser Davis Professor at Yale University.”

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