Description
Book SynopsisThis clear and concise Advanced Introduction to National Accounting explores the post-1960 modernization of national accounting. John M. Hartwick offers insights into the arrival of Total Factor Productivity (TFP) and user cost, highlighting the importance of Tornqvist index numbers and translog production, cost and utility functions in its modernization.
Key features include:
- an exploration of personal income distribution and national accounting
- an exposition of the links between various forms of utility functions and index numbers
- a chapter devoted to the incorporation of the decline in stocks of natural capital into the national accounts
- a report on the measurement of welfare and GDP change arising from technical change and shifts in a nation's terms of trade.
An important read for economics and accounting scholars, this Advanced Introduction offers useful insights to the key topics around national accounting. It will be a helpful tool for students on advanced macroeconomics and economics of natural resources courses.
Trade Review'Who said national accounting was boring? In this comprehensive review of the underpinnings of national accounting, which reads like a conversation but never skips analytical rigor, John Harwick provides the reader with a unique and inspiring guide to which one can always come back for reference, for many years to come. In a constant back and forth between theory and applied issues, this book is candid about the assumptions and inspiring about the possibilities of the accounting framework. Economists, statisticians, experts and students will all find a lot to learn and ponder in these thoughtful reflections about how to organize economic data in order to obtain an accurate picture of values, costs, capital and, ultimately, social welfare and sustainability. If you take what counts at heart, read this book!' --Marc Fleurbaey, Paris School of Economics, France
'This textbook on national accounting is a masterful exposition of the main theoretical issues pertaining to this subject matter. The author conducts a fascinating guided tour that covers important topics such as price indices, productivity measurement, the valuation of having access to more varieties of goods, the valuation of life extension, the measurement of social welfare and sustainability. The gist of highly technical issues is presented here in a transparent way, often with a personal touch. In addition to serving as a textbook for graduate students, this masterpiece will be extremely useful to both scholars and practitioners of national income accounting. General economists who are interested the history of the development of concepts and debates on national accounting will find that this book is a valuable and user-friendly source of references.'
--Ngo Van Long, McGill University, Canada
Table of ContentsContents: Accounts Matrix; User Cost; Capital 2. Productivity Measurement 3. Index Numbers 4. Government, Housing and Banking 5. Natural Resources 6. International Trade 7. Life Extension; Population; Social Welfare measurement Index
