Since the United States economy accounts for almost thirty percent of the world economy, it is not surprising that accounting for this huge and diverse set of economic activities requires a decentralized statistical system.  Professor Dale Jorgenson’s A New Architecture for the U.S. National Accounts implements a new conceptual framework for the U.S. national accounts by integrating the national income and product accounts, productivity statistics, and financial accounts.

Jorgenson's program brings together a distinguished group of contributors to initiate the development of a comprehensive and fully integrated set of United States national accounts. The purpose of the new architecture is not only to integrate the existing systems of accounts, but also to identify gaps and inconsistencies and to expand and incorporate systems of nonmarket accounts with the core system.  This project outlines the major assignments among institutions that include the Bureau of Economic Analysis, Bureau of Labor Statistics, Department of Labor, Census Bureau, and Governors of the Federal Reserve System.

An important part of the motivation for the new architecture is to integrate the different components and make them consistent. These related publications are a first step toward achieving that goal:

• Dale Jorgenson - "A New Architecture for the U. S. National Accounts"
• Dale Jorgenson - "Accounting for Growth in the Information Age"

Please contact Trina Ott for more information about this program.