National Accounting

Definition

• Period-specific
• ex-post description (bookkeeping for an economy)
• of economic market transactions (volunteerism, neighborly help, illicit activies, etc. are not counted)
• by the economic agents of a country (i.e. households, firms, government)
• and with the rest of the world.

• Goals
  • Generating macroeconomic data
  • Analysis of the macro situation
  • Inter-temporal and international comparison
  • Facilitation of fact-based economic-policy.