The Measurement of saving, investment, and wealth / edited by Robert E. Lipsey and Helen Stone Tice.

Format:

Book

Conference/Event

Contributor:

Lipsey, Robert E.

Tice, Helen Stone.

Conference on Research in Income and Wealth.

Conference Name:

Conference on the Measurement of Saving, Investment, and Wealth (1987 : Baltimore, Md.)

Series:

Studies in income and wealth ; v. 52.

Studies in income and wealth ; v. 52

Language:

English

Subjects (All):

Saving and investment.

Wealth.

Physical Description:

1 online resource (876 pages)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, 1989.

Language Note:

English

Summary:

There is probably no concept other than saving for which U.S. official agencies issue annual estimates that differ by more than a third, as they have done for net household saving, or for which reputable scholars claim that the correct measure is close to ten times the officially published one. Yet despite agreement among economists and policymakers on the importance of this measure, huge inconsistencies persist. Contributors to this volume investigate ways to improve aggregate and sectoral saving and investment estimates and analyze microdata from recent household wealth surveys. They provide analyses of National Income and Product Account (NIPA) and Flow-of-Funds measures and of saving and survey-based wealth estimates. Conceptual and methodological questions are discussed regarding long-term trends in the U.S. wealth inequality, age-wealth profiles, pensions and wealth distribution, and biases in inferences about life-cycle changes in saving and wealth. Some new assessments are offered for investment in human and nonhuman capital, the government contribution to national wealth, NIPA personal and corporate saving, and banking imputation.

Contents:

Front matter

Contents

Prefatory Note

Introduction

1 Present NIPA Saving Measures: Their Characteristics and Limitations

2 Measuring Household Saving: Recent Experience from the Flow-of-Funds Perspective

3 Flow-of-Funds and National Income and Product Account Savings Estimates in Latin America

4 Aggregate U. S. Private Saving: Conceptual Measures and Empirical Tests

5 The Accumulation of Human and Nonhuman Capital, 1948 -84

6 Government Saving, Capital Formation, and Wealth in the United States, 1947-85

7 The Theory and Measurement of the Nominal Output of Banks, Sectoral Rates of Savings, and Wealth in the National Accounts

8 World Payments Imbalances and U.S. Statistics

9 Year- Apart Estimates of Household Net Worth from the Survey of Income and Program Participation

10 Survey Estimates of Wealth: An Assessment of Quality

11 Using Panel Data to Assess the Bias in Cross-sectional Inferences of Life-Cycle Changes in the Level and Composition of Household Wealth

12 The Wealth of the Aged and Nonaged, 1984

13 Pension Wealth, Age-Wealth Profiles, and the Distribution of Net Worth

14 The Importance of Gifts and Inheritances among the Affluent

15 Long-Term Trends in U.S. Wealth Inequality: Methodological Issues and Results

Contributors

Author Index

Subject Index

Notes:

"National Bureau of Economic Research Conference on Research in Income and Wealth."

"Papers and discussion presented at the Conference on the Measurement of Saving, Investment, and Wealth held in Baltimore, Maryland, 27-28 March 1987"--p. xi.

Includes bibliographies and indexes.

ISBN:

9786611431013

9781281431011

128143101X

9780226484716

0226484718

OCLC:

476229625