This 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.