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Designing Nonmarket Accounts for the United States Interim Report (2003) / Chapter Skim
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Executive Summary
Pages 1-2

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From page 1...
... Failure to account for these activities may significantly distort policy makers' sense of economic trends and the desirability of potential policy interventions. The Panel to Study the Design of Nonmarket Accounts was charged with evaluating current approaches, examining data requirements, determining priorities for areas of coverage, and suggesting further research to strengthen the knowledge base about nonmarket accounting.
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From page 2...
... is also considering how the experimental nonmarket accounts might be designecl to work as compatibly as possible with the current core accounts, the merits of which have been validated from a long history of use. The panel concludes that, when possible, the conceptual framework to be applied in accounting for nonmarket activity should parallel the framework used in the existing national accounts.
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Key Terms

  • nonmarket accounts
  • nonmarket accounting
  • national accounts
  • core accounts
  • population spends

  • valuation typically
  • volunteer work
  • total value
  • market analog
  • explaining economic

  • current approaches
  • time inputs
  • nonmarket activities
  • experimental nonmarket
  • information required

  • american time
  • nonmarket production
  • evaluating current
  • policy interventions
  • report identifies

  • measurement objective
  • step forward
  • market substitutes
  • data requirements
  • distort policy

  • significantly distort
  • dollar values
  • controversial issues
  • observable market
  • economic trends


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