ACCOUNTING FOR HOUSEHOLD PRODUCTION: A PROTOTYPE SATELLITE ACCOUNT USING THE AMERICAN TIME USE SURVEY

J. Steven Landefeld · Barbara M. Fraumeni · Cindy M. Vojtech

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Gender, Labor, and Family Dynamics Income, Poverty, and Inequality Sustainable Development and Environmental Policy

Abstract

This paper presents a satellite account where households are treated as production units. It extends previous work that treats consumer durables as investment and that values nonmarket household production activities such as cooking, cleaning, and childcare. Services from consumer durables and government capital related to household production are also valued. In constructing the updated accounts, this paper incorporates new time use data from the American Time Use Survey (ATUS) and the harmonized time use data from the Multinational Time Use Study (MTUS). This paper also discusses and incorporates recommendations made by the U.S. National Academies panel on nonmarket accounts.

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References

1933The Economics of Welfare 2017Economics of Household Production 1993System of National Accounts, 1993 1989The Accumulation of Human and Nonhuman Capital, 1948-1984 1934National Income, 1929-1932 1990The total incomes system of accounts 2000ACCOUNTING FOR NONMARKET HOUSEHOLD PRODUCTION WITHIN A NATIONAL ACCOUNTS FRAMEWORK 1990The Measurement of saving, investment, and wealth

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