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Pratt, James. 2009. Valuing Nonmarket Family Care Time Using National Income Accounts and the American Time Use Survey, Cornell University

Since its establishment in 1934, our system of national accounting has omitted any consideration of values for nonmarket activities in the determination of our level of national output. We only count those activities that have observed, monetarily denominated, market transactions associated with them. Everyone knows that our nonmarket activities definitely contribute value to our lives. The omission is more than just a benign oversight. National economic policies that ignore these valuable activities can have detrimental impacts on public policy. (Warner, 2009) The advent of the ongoing American Time Use Survey (ATUS) in 2003 holds the promise that we will finally be able to value these important nonmarket family care activities. This report outlines the components and procedures for a method of valuing the family care aspects of our nonmarket lives in national income accounts.

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Subject: Child Care,Gender