The present paper examines several issues involved in expanding national economic accounts and quantitative social indicators to include the 'consumption' of time. The first part examines this question in the context of the standard national economic accounts. It derives equilibrium conditions...

Two proposals are made that may facilitate the creation of derivative market instruments, such as futures contracts, cash-settled based on economic indices. The first proposal concerns index number construction: indices based on infrequent measurements of nonstandardized items may control for...

Assessing the benefits of local consumption amenities is faced with two challenges. First, the benefits of consumption amenities (e.g. restaurants) are often spatially diffused. Evaluating the impact of consumption amenities on residents requires an understanding of how the amenity benefits...

Measuring and monitoring the true level of mortgage delinquencies across an economy is essential for asset pricing and financial system stability. Yet public measures of mortgage default risk almost always use simple averages across pools of individual assets, including balance-sheet loans or...

Two proposals are made that may facilitate the creation of derivative market instruments, such as futures contracts, cash-settled based on economic indices. The first proposal concerns index number construction: indices based on infrequent measurements of nonstandardized items may control for...