Prefatory Note
Introduction
Charles R. Hulten and Marshall B. Reinsdorf
I. Advancing Economic and Financial Measurement Practice: Lessons from the Financial Crisis
1. Integrating the Economic Accounts: Lessons from the Crisis
Barry Bosworth
2. Financial Statistics for the United States and the Crisis: What Did They Get Right, What Did They Miss, and How Could They Change?
Matthew J. Eichner, Donald L. Kohn, and Michael G. Palumbo
3. Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
Leonard Nakamura
4. Shadow Banking and the Funding of the Nonfinancial Sector
Joshua Gallin
5. Financial Intermediation in the National Accounts: Asset Valuation, Intermediation, and Tobin’s q
Carol A. Corrado and Charles R. Hulten
II. Advances in Measuring Wealth and Financial Flows
6. Adding Actuarial Estimates of Defined-Benefit Pension Plans to National Accounts
Dominque Durant, David Lenze, and Marshall B. Reinsdorf
7. The Return on US Direct Investment at Home and Abroad
Stephanie E. Curcuru and Charles P. Thomas
8. US International Financial Flows and the US Net Investment Position: New Perspectives Arising from New International Standards
Christopher A. Gohrband and Kristy L. Howell
III. How did the Financial Crisis Affect Households and Businesses?
9. Household Debt and Saving during the 2007 Recession
Rajashri Chakrabarti, Donghoon Lee, Wilbert van der Klaauw, and Basit Zafar
10. Drowning or Weathering the Storm? Changes in Family Finances from 2007 to 2009
Jesse Bricker, Brian Bucks, Arthur Kennickell, Traci Mach, and Kevin Moore
11. The Misfortune of Nonfinancial Firms in a Financial Crisis: Disentangling Finance and Demand Shocks
Hui Tong and Shang-Jin Wei
Contributors
Author Index
Subject Index