The key elements of a new architecture for the U.S. national accounts have been developed in a prototype system constructed by Dale W. Jorgenson and J. Steven Landefeld, director of the Bureau of Economic Analysis at the U.S. Department of Commerce. As the U.S. economy emerges from the most severe contraction since the Second World War, the focus of policy will shift toward enhancing the economy’s potential for growth. A second motivation for the new architecture is to integrate the different components of the decentralized U.S. statistical system and make them consistent.
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