In CBA practices around the world, benefits are valued regardless of to whom they accrue. This disregards basic economic principles, like declining marginal utility of income, or inequality aversion. This paper argues that if redistribution matters, net benefits must be aggregated using a...

According to economic theory, taxation drives a wedge between private and public benefits, which distorts labour supply, consumption and investment and leads to loss of welfare. One would therefore expect that in cost-benefit analysis (CBA) of public expenditure a correction is made for the...

This chapter of the new European guidelines on national accounting (ESA 2010) provides an introduction and overview of supply and use tables and the input-output framework in the national accounts. It discusses its role as a statistical tool, e.g. in compiling estimates of value added by...

This chapter of the new European guidelines on national accounting (ESA 2010) defines transactions in products and non-produced assets. This includes key-concepts in macro-economic statistics, like output, final consumption by government and households, gross capital formation and exports and...

In 1947, for the first time a report on national accounting concepts was published by the UN (the 1947 UN-report). Some years later (in 1951), the first official guidelines were published. Since then, national accounting theory and practice have increasingly been dominated by these guidelines....