NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Integrated Macroeconomic Accounts of the United States

Marco Cagetti, Elizabeth Ball Holmquist, Lisa Lynn, Susan Hume McIntosh, David Wasshausen


This chapter is a preliminary draft unless otherwise noted. It may not have been subjected to the formal review process of the NBER. This page will be updated as the chapter is revised.

Chapter in forthcoming NBER book Measuring Economic Sustainability and Progress, Dale W. Jorgenson, J. Steven Landefeld, and Paul Schreyer, editors
Conference held August 6-8, 2012
Forthcoming from University of Chicago Press
in NBER Book Series Studies in Income and Wealth

The integrated macroeconomic accounts (IMAs), produced jointly by the Bureau of Economic Analysis (BEA) and the Federal Reserve Board (FRB), present a sequence of accounts that relate income, saving, investment in real and financial assets, and asset revaluations to changes in net worth. This paper first provides some background information on the IMAs and on their construction. Next, it discusses the usefulness of the IMAs, focusing for instance on the evolution of household net worth and its components, a set of series that has appeared frequently in discussions of the causes and effects of the recent financial crisis. It also discusses some of the challenges associated with integrating nonfinancial and financial data sources, that is, the current and capital accounts statistics from BEA’s national income and product accounts (NIPAs) and the financial account statistics from FRB’s flow of funds accounts (FFAs). In the final section, this paper discusses future plans for improving the IMAs, including a proposed framework and methodology for breaking out the financial business sector into three subsectors: 1, central bank; 2, insurance and pension funds; and 3, other financial business.

download in pdf format
   (882 K)

email paper

This paper is available as PDF (882 K) or via email.

This paper was revised on August 14, 2013

Machine-readable bibliographic record - MARC, RIS, BibTeX

Users who downloaded this chapter also downloaded these:
Joyce and Kaestner w5354 State Reproductive Policies and Adolescent Pregnancy Resolution: The Case of Parental Involvement Laws
Busse, Zettelmeyer, and Silva-Risso w10887 $1000 Cash Back: Asymmetric Information in Auto Manufaturer Promotions
Maestas, Schroeder, and Goldman w14679 Price Variation in Markets with Homogeneous Goods: The Case of Medigap
McCully Integration of Micro and Macro Data on Consumer Income and Expenditures
Shrestha Toward the Development of Sectoral Financial Positions and Flows in a From-Whom-to-Whom Framework
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us