Problems in Estimating the Value of Household Services

R. D. Peterson

American Journal of Economics and Sociology, 1978, vol. 37, issue 2, 145-148

Abstract: Current estimates of the value of household services (VHS) as a percent of Gross National Product(GNP) are overestimations, it is contended. They are based on a zero (or low) supply price whereas if such services by family members usually commanded a price, the quantity demanded might be substantially less. Also the total output of goods and services (real GNP) against which VHS is measured is GNP sans VHS; if measurement is justified, it should be GNP plus VHS, yielding a smaller percentage.

Date: 1978
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