NIPAhandbook

NIPAhandbook - Concepts and Methods of the U.S. National...

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Unformatted text preview: Concepts and Methods of the U.S. National Income and Product Accounts (Chapters 15) October 2009 Preface The NIPA Handbook begins with introductory chapters that describe the fundamental concepts, definitions, classifications, and accounting framework that underlie the national income and product accounts (NIPAs) of the United States and the general sources and methods that are used to prepare the NIPA estimates. It continues with separate chapters that describe the sources and methods that are used to prepare the expenditure and income components of the accounts. The Handbook is intended to be a living reference that can be updated to reflect changes in concepts or methodology as they are introduced into the NIPAs. This release of the NIPA Handbook consists of updated versions of the four introductory chapters to reflect the 2009 comprehensive revision and a new chapter on personal consumption expenditures. Additional chapters will be incorporated as they become available. Acknowledgments Douglas R. Fox , formerly of the Bureau of Economic Analysis (BEA), prepared the four introductory chapters of this Handbook. He and Clinton P. McCully of BEAs National Income and Wealth Division (NIWD) prepared the chapter on personal consumption expenditures. NIWD staffincluding Arnold J. Katz , Stephanie H. McCulla, Eugene P. Seskin, Shelly Smith , and David F. Sullivan provided valuable assistance and comments. Brent R. Moulton , BEAs Associate Director for National Economic Accounts, and Carol E. Moylan , Chief of NIWD, provided overall guidance. Table of Contents CHAPTER 1: INTRODUCTION The U.S. national income and product accounts (NIPAs) are a set of economic accounts that provide the framework for presenting detailed measures of U.S. output and income. This chapter introduces the NIPAs by answering several basic questions about their nature and purpose. CHAPTER 2: FUNDAMENTAL CONCEPTS The NIPAs are based on a consistent set of concepts and definitions. This chapter establishes the type and scope of the economic activities that are covered by the NIPA measures, and it describes several of the principal NIPA measures of these activities. It then discusses the classifications used in presenting the NIPA estimates, and it describes the accounting framework that underlies the NIPAs. CHAPTER 3: PRINCIPAL SOURCE DATA The NIPAs incorporate a vast amount of data from a variety of public and private sources. This chapter describes the principal source data that are used to prepare the current quarterly NIPA estimates, to prepare the annual revisions of the NIPAs, and to prepare the quinquennial comprehensive revisions of the NIPAs. CHAPTER 4: ESTIMATING METHODS Estimating methods are the steps that are taken to transform source data into estimates that are consistent with the concepts, definitions, and framework of the NIPAs. This chapter briefly describes some of the general methods that are used to prepare the current-dollar, quantity, and price estimates for the NIPAs. An to prepare the current-dollar, quantity, and price estimates for the NIPAs....
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NIPAhandbook - Concepts and Methods of the U.S. National...

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