The statistical discrepancy is equal to gross domestic product less gross domestic income. These two measures are, in principle, the same. The difference reflects less than perfect source data. The paper finds few components that statistically significantly explain the discrepancy in the last 35...

A new study by BEA finds that the quarterly estimates of state personal income were reliable indicators in the period 1991-2001. That is, they were generally successful in indicating whether a state’s economy was expanding or contracting, whether a state’s economy was accelerating or...

The paper looks at the 10 recessions since World War II, and compares them to both monthly and quarterly indicators of general economic activity. It finds that four monthly measures emphasized by the NBER’s dating committee do not fully agree with the official peak and trough months, but...

The comprehensive benchmark revision of the national income and product accounts (NIPA’s), released in October of last year, newly recognized business and government expenditures for computer software as investment. This paper describes the methodology for annual and quarterly estimates of...

In the U.S. national income and product accounts (NIPA's), most of the types of goods in the investment category "information processing (IP) equipment and software" have experienced rapidly changing technology and are thus candidates for inclusion in the new economy. The NIPA price indexes for...