Consumption Symposium: Broadening Our Understanding of Household Consumption and Measurement, September 22-23, 2021
Benjamin Bridgman - Bureau of Economic Analysis - Benjamin.Bridgman@bea.gov
I discuss the measurement of household production and the theoretical and practical issues raised if we wish to include it in consumption distributional accounts. BEA regularly updates its Household Production Satellite Accounts (HPSA). However, there are two main challenges with using the HPSA for consumption distributional accounts. The theoretical basis used in the HPSA is not conducive to measuring consumption and the source data do not match well with those used to measure individual consumption. Current BEA methodology uses a value-added approach to measuring household production, while consumption measurement is a gross output concept. I will discuss what will be needed to recut the HPSA into a consumption basis. The source data the HPSA uses are not well matched to household level consumption data. I will discuss efforts to link the source data to provide all the required components to estimate the HPSA at the household level.
Last Modified Date: November 10, 2021