NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?

Michael G. Palumbo, Jonathan A. Parker

NBER Working Paper No. 14663
Issued in January 2009

---- Acknowledgments ----

This paper was prepared for the Papers and Proceedings of the One Hundred Twenty First Meeting of the American Economic Association. We thank Robert Gordon for helpful comments and Elizabeth Ball-Holmquist for research assistance. Palumbo: Division of Research and Statistics, Federal Reserve Board, Washington, DC 20551, mpalumbo@frb.gov; Parker: Kellogg School of Management, Northwestern University, 2001 Sheridan Road, Evanston, IL 60208-2001, e-mail: Jonathan-Parker@Kellogg.Northwestern.edu. The views expressed in this paper are the authors and do not necessarily correspond to those of other research staff at the Federal Reserve, the Board of Governors, or the National Bureau of Economic Research.

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