ACCOUNTING FOR NONMARKET HOUSEHOLD PRODUCTION WITHIN A NATIONAL ACCOUNTS FRAMEWORK

J. Landefeld and Stephanie H. McCulla

Review of Income and Wealth, 2000, vol. 46, issue 3, 289-307

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.

Date: 2000
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