We develop adjustments to align the NIPA measures of key household flows with cash flow concepts that better reflect household budgets and demand. The adjustments significantly change important macroeconomic time series and give different perspective on household spending and saving....

This paper develops a comprehensive measure of household economic well-being. The "sustainable consumption" concept accounts for income, assets, debt, transfer payments, and asset returns to estimate a consumption path that balances resources with expenditure over a household's lifetime....

We develop adjustments to align the NIPA measures of key household flows with cash flow concepts that better reflect household budgets and actual demand generated by households. The adjustments significantly change the behavior across time of household spending and saving. Furthermore, household...