摘要:

This article present estimates, in current prices, of the national wealth of Japan and of about a dozen components for twelve benchmark dates between 1885 and 1973, the distance ranging, with one exception, from five to twelve years. The estimates are derived by a combination of (a) Ohkawa's perpetual inventory estimates of reproducible fixed assets for the period from 1885 to 1940 and Economic Planning Agency censuses for 1950 to 1965, roughly extrapolated to 1973; with (b) estimates of other components of national wealth (land, inventories, consumer durables and net foreign assets) taken for the pre‐war period chiefly from census‐type data and derived for the postwar period from miscellaneous, mainly official, sources.As in most countries the current value of Japan's national wealth increased until World War II considerably more slowly than its national product, which expanded with extraordinary rapidity. In the postwar period, however, the ratio showed a slight upward trend reaching by 1973 fully 3 1/2. The ratio of all reproducible assets to national product showed a similar pattern at a lower level, reaching 2 1/2 in 1973. In contrast the ratio of so‐called productive assets (non‐residential buildings, equipment and inventories) failed to show a definite secular trend remaining between 1.5 and 2.2 at all but one benchmark date.Changes in the structure of national wealth over the past century were pronounced, but very different before and after World War II. Up to the 1940's, the share of land declined sharply from about one‐half to less than one‐fourth, to the benefit primarily of producer durables and non‐residential structures. In the last quarter of a century, in contrast, the extraordinary rise in urban land prices brought the share of land in national wealth back to one‐third (though the share of agricultural land continued to decline rapidly), while that of producer and consumer durables contin

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00686.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY

摘要:

The purpose of this article is to record the history of the national income and product accounts of the United States, concentrating on the period 1932–47. During that period the single national income aggregate evolved into a set of accounts and the estimates emerged as an important analytical tool. Interviews with participants in these developments were extensively utilized to trace the events, people, ideas, and other factors which shaped the history of the accounts.The generally recognized need for economic information during the Great Depression stimulated the request that the Department of Commerce undertake what became the first official continuing series on national income in the United States. These estimates were prepared with the cooperation of the National Bureau of Economic Research and were published in 1934. By the late 1930's, estimates were extended to include income by state and a monthly series. World War II was the impetus for the development of product, or expenditure, estimates. By the mid‐1940's, the estimates had evolved into a set of income and product accounts–a consolidated production account, sector income and outlay accounts, and a consolidated saving‐investment account–designed to provide a bird's‐eye‐view of the economy. During this period uses of the accounts widened; analysis of wartime production goals and anti‐inflation policy are noteworthy examples. TheNational Income, 1947Editionwas the culmination of a period of intensive conceptual discussion, extension of data sources, and improvement of estimating techniques. Thereafter the mainlines of development are more familiar, encompassing refinement and elaboration of the estimates and prolif

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00687.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY

摘要:

The elegant general equilibrium world of Arrow and Debreu has had a considerable mathematical development in the last decade. Underlying this work is an extremely parsimonious model of the economic system. In particular, only one economic actor is distinguished, the consumer who maximizes his welfare (the firm which maximizes profit is an automation). One class of economic entities is considered. These are goods and services. There is no important operational distinction made between a good, which is durable, and a service, which is not.It is suggested here that a more fruitful basic economic model needed to achieve a unification of micro and macroeconomic theory needs both more actors and more basic economic units. Specifically, the structure of process in a political‐economy is such that even at the level of relatively abstract theory operational differences among consumers, entreprenuers, administrators, financiers, and politicans should be discernible. Furthermore, several basic economic entities (or “basic particle”) must play important discernible roles in an adequate theory. In partiuclar, in the “real sector” physical assets should play a mahor role, i.e., the distinction between durable goods and consumables or services should be important. The paper sector must also be present with the roles of flat money, ownership claims and contracts all distinguished. It is argued here that any economy can be characterized in terms of two real and six paper basic units: goods, services and six financial instruments. All other financial instruments can be obtained as mixtures of this

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00688.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY

摘要:

Microdata sets—samples of data relating to individual reporting units—can provide a valuable extension of the national economic accounts as they presently exist, making it possible to meet many of the criticisms being leveled at the accounts over their failure to include much nontransactions information that is essential to the evaluation of economic and social performance. To serve this purpose, however, the microdata sets must be integrated with the aggregate accounts, and with one another. A microdata sets relating to any given sector should add up (with appropriate weighting) to the economic constructs for that sector in the national accounts, and the microdata set for one sector should be articulated as appropriate with those of other sectors. This paper discusses techniques for constructing such microdata sets, including necessary adjustments of the macro accounts, techniques of alignment of microdata with the macro accounts and the creation and development of synthetic microdata sets. Synthetic matching and other techniques of merging data sets are discussed. The paper concludes with a consideration of the methodological implication of the integration of microdata and national accou

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00689.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY

摘要:

An attempt is made in this paper to identify and quantify the relative influence of several economic, social, and demographic factors on variations in the size distribution of family incomes in 208 Standard Metropolitan Statistical Areas (SMSAs) in the United States in 1959. Using a simple ordinary least squares model with Gini's concentration ratio (R) as the proxy for family income inequality, the estimating equations explain up to 89 percent of the SMSA‐to‐SMSA variation. The “best” explanatory variables are those having to do with size of nonwhite population, occupational structure, and median years of education. City size and region—which are represented by dummy variables—are also revealed as playing an important role, both on their own and in conjunction with other of the independen

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00690.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY

摘要:

Starting from the proposition that economic welfare is better measured by the capitalized value of expected future income at age 18 than by income at a point of time, the present paper explores the bias introduced in comparison of earnings and income distributions.The earning distribution chosen for study is that for males in 1959 in the United States. It is shown that earnings distributions are biased and therfore can be considered highly misleading in most comparisons unless the comparison involves two groups with identical age distributions and identical distributions of earnings over the working life of earners.Further, a most striking effect can be discerned in comparing the earnings to the present value distributions by educational level. As one moves up the educational ladder, the within‐group distribution of lifetime income becomes more and more equal, in sharp contrast to the findings for the distribution of earnings at a point in time.The result are sufficiently interesting and striking to warrant further studies of distributions of present value of lifetime expected earnings (and income

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00691.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00692.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY

ISSN:0034-6586    

DOI:10.1111/j.1475-4991.1975.tb00693.x

出版商:Blackwell Publishing Ltd    

年代:1975

数据来源: WILEY