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Understanding National Accounts

Second Edition

image of Understanding National Accounts

This second edition of Understanding National Accounts, that provides a comprehensive explanation of how national accounts are compiled, contains new data and new chapters, and is adapted to the new systems of national accounts, SNA 2008 and ESA 2010, that came into effect in September 2014. It approaches national accounts from a truly global perspective, with special chapters dedicated to international comparisons, globalisation and well-being as well as to the national systems used in major OECD economies, such as the United States.

Each chapter of the manual uses practical examples to explain key concepts in national accounts in a clear and accessible way. And, each chapter concludes with a synthesis of key points covered in the chapter, followed by resources for further exploring the topic, and by a set of exercises to test your knowledge. It is an ideal guide to national accounts for students and other interested readers.

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The national income and product accounts of the United States

This chapter focuses on the United States and its National Income and Product Accounts, otherwise known as NIPA. It first presents the history of NIPAs from the 1930s through to today. It looks at the NIPA summary account tables, and at other NIPA tables, and it explains how NIPAs are disseminated. Next, it considers the other sets of national, industry, regional, and international accounts produced by the Bureau of Economic Analysis (BEA) and integrated with the NIPAs, as well as programmes that provide source data used for the preparation of the NIPAs. Finally, the chapter discusses the importance of the BEA’s advance quarterly GDP estimate and explains the methodology used to prepare it.

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