National Accounts and Economic Value A Study in Concepts [Hardcover]

Utz-Peter Reich addresses economists interested in a sound empirical foundation for their theoretical concepts. He investigates economic value and determines how value is defined in theory, which is microeconomic, and how it is measured in practice in national accounts. He demonstrates that microeconomic theory is not made to guide or interpret national accounts figures and he offers an alternative theory.Introduction Why Write About Value in the Context of National Accounts Nominal Accounts Transformation Real Accounts The Quality Problem Theory of Value Value Theory of the National Accounts Value Theory in Economics Open Questions IndexUTZ-PETER REICH is Professor of Economics and Statistics at the Mainz University of Applied Sciences. He has been Chairman of the Council of the International Association for Research and Income and Wealth.