Accounting for Nonmarket Household Production Within a National Accounts Framework

Abstract

The satellite accounts illustrated in this paper reflect the household's role as a producer and an investor in durables as well as a consumer by modifying the NIPA's to (1) incorporate the value of nonmarket (unpaid) household work into GDP; and (2) treat expenditures on consumer durables as investment and measure the value of the services those durables provide. Additionally, an Input–Output (I–O) model highlights the household's functions as a producer and investor in much greater detail for the year 1992 by incorporating a household industry for each time‐use activity and by showing the inputs to and outputs from each household industry's production.

A Comparison of Inequality and Living Standards in Canada and the United States Using an Expanded Measure of Economic Well-Being

“…Our strategy for imputing the value of household production is to value the amount of time spent by individuals on the basis of its replacement cost, as indicated by the average earnings of domestic servants or household employees (Kuznets, Epstein, and Jenks 1941: 432-433;Landefeld and McCulla 2000). Research suggests that there are significant differences among households in the quality and composition of the "outputs" of household production, as well as the efficiency of housework (National Research Council 2005: ch. 3).…”

Historical Trajectories of the Financial Sector Display in the System of National Accounts

“…Such a module can quantify the economic importance of paid and unpaid household production (see e.g. Goldschmidt-Clermont and Pagnossin- Aligisakis, 1999 andLandefeld andMcCulla, 2000). The Statistical Office of the UK now regularly publishes such a module.…”

National Time Accounting and National Economic Accounting

“…For example, Landefeld and McCulla (2000) developed household production accounts that are a combination of market and nonmarket inputs (utilizing ATUS data) to produce output and are valued at market value or proxy for market value. They are a double-entry set of accounts, and include detailed input-output tables for household production.…”