Perspectives on the New Architecture for the US National Accounts

摘要

Once thriving areas of inquiry and considered very important for practicing economists, teaching and research on national income accounting and price indexes, with vital exceptions in academe and government, declined for decades in relative importance. Congress indexed Social Security benefits in the 1970s and income tax brackets in the 1980s. And concerns about budget deficits led to the greater reliance on productivity growth forecasts in generating medium-term fiscal projections.