This paper provides background information on the new economy and how it relates to BEA’s economic accounts. It is designed to answer the following questions: What is the new economy? Why is it important that the new economy be captured in GDP and BEA’s other economic accounts estimates?...

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...