National accounts: barometer, telescope and compass for the national economy

Bos, Frits (2011): National accounts: barometer, telescope and compass for the national economy.

Abstract

This note briefly describes the merits and limitations of the national accounts, e.g. GDP per capita is a simple measure of material welfare, but not a comprehensive measure of welfare.

• Item Type: MPRA Paper
• Language: English
• Keywords: GDP; welfare; measurement in economics; macro-economic statistics; fiscal policy; macro-economic policy; economic growth
• Subjects: C - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs > C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access; A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A20 - General; E - Macroeconomics and Monetary Economics > E0 - General > E01 - Measurement and Data on National Income and Product Accounts and Wealth ; Environmental Accounts; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67 - Input-Output Models; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E60 - General

References

Bos, F. (2006), The Development of the Dutch National Accounts as a Tool for Analysis and Policy, Statistica Neerlandica, Vol. 60, nr. 2, pp. 225-258.

Bos, F. (2009), The National Accounts as a Tool for Analysis and Policy; in View of History, Economic Theory and Data Compilation Issues (VDM Verlag Dr. Müller, Saarbrücken).

Leguiller, F. en D. Blades (2006), Understanding National Accounts (OECD, Parijs).

Stiglitz, J.E., A. Sen, J.P. Fitoussi (2009), Report by the Commission on the Measurement of Economic Performance and Social Progress (www.stiglitz-sen-fitoussi.fr).

Vanoli, A. (2005), A History of National Accounting (IOS Press, Amsterdam).