Economic theory and national accounting

Frits Bos

MPRA Paper from University Library of Munich, Germany

Abstract: This paper describes the relationship between economic theory and national accounting. This relationship is often misunderstood, by economic theorists and national accountants alike. Attention is drawn to the consistency required in a national accounting system, to national accounts statistics as a transformation of primary data and to the fundamentally different valuation principles employed in economic theory and national accounting (foreward looking, analytic and general, versus backward looking, descriptive and well-specified).

Keywords: Measurement in economics; national accounts; economic theory; valuation (search for similar items in EconPapers)
JEL-codes: C8 E6 (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (5)

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