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A preliminary table for a production account without entries is included in BEA's report on its development of the IEESA (Bureau of Economic Analysis, 1994a, 1994b).
As noted, forests are part of Phase II of BEA's IEESA effort.
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.
The first set of estimates in the IEESA contains many important and useful conclusions.
BEA's proposal for developing the IEESA's envisions a phased approach, adding satellite accounts for other productive natural-resource and environmental assets in three phases--starting with minerals, expanding to renewable resources such as timber in forests, and then addressing nonmarket assets and public goods such as clean air.
BEA proposed putting the IEESA's in satellite accounts, which are a useful innovation in national accounting.
Should the IEESA be developed in the core or satellite accounts?
The same is to be expected for the IEESA'S, as BEA'S new integrated economic and environmental satellite accounts are being called.
Such a treatment is at the heart of the integrated economic and environmental satellite accounts (IEESA's), which are the subject of a companion article, beginning on page 33.
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