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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.

Item Type: MPRA Paper -

Original Title: Economic theory and national accounting-

Language: English-

Keywords: Measurement in economics, national accounts, economic theory, valuation-

Subjects: E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General OutlookC - Mathematical and Quantitative Methods > C8 - Data Collection and Data Estimation Methodology ; Computer Programs-

Autor: Bos, Frits


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