In 1987, the year for which BEA presents the IEESA asset accounts, the calculated value of reserve additions roughly offsets reserve depletions, so including mineral assets in the NIPA for that year would not substantially alter the estimate of the level of net domestic product (NDP).
In addition, aggregate stock and flow values for five mineral categories (oil, gas, coal, metals, and other minerals) are entered in the appropriate rows and columns of the IEESA Asset Account for 1987.
This discrepancy will affect the IEESA production account since with a lower value for additions, the adjusted GDP and NDP figures will be lower.
For both practical and economic reasons, BEA considers only reserves in its IEESA.
While the IEESA'S build on the existing economic accounts, they do not replace them; likewise, IEESA measures do not replace measures, such as gross domestic product (GDP), from the existing accounts.
Because of these offsetting changes, it is conceivable that when all entries in table 2--or if not all, at least enough more than at present to avoid risks of conclusions based on partial results--have been filled in, the table will show that IEESA NDP differs little from traditional NDP.
The overall IEESA framework is designed to build upon the existing national accounts and is in line with the guidance embodied in the new international SNA about a satellite system and the companion SEEA.
Howell, IEESA framework and estimates other than minerals; Arnold J.
environmental accounts, they should avoid some of the fundamental economic errors characteristic of the IEESA and many other environmental systems.
In some respects, the IEESA represent a conceptual improvement over the principles underlying the SEEA.
Before stopping work on the IEESA, BEA prepared a complete set of subsoil mineral accounts, it also undertook preliminary estimates of forest values, along with estimates for land underlying structures (see Chapter 4).
Developing accounts for the commodity-producing value of forests is the obvious next step in developing the IEESA.