The integrated macroeconomic accounts present a series of accounts that relate production, income and saving, and capital formation from the national income and product accounts (NIPA) and financial transactions and asset revaluations from the financial accounts to changes in net worth calculated from the balance sheet (see table S.2.A for more information). These accounts are based on international guidelines and terminology spelled out in the System of National Accounts 2008. For more detail on these accounts, see Charlotte Anne Bond, Teran Martin, Susan Hume McIntosh, and Charles Ian Mead (2007), "Integrated Macroeconomic Accounts for the United States," Bureau of Economic Analysis, Survey of Current Business , February, pp. 14-31, www.bea.gov/scb/pdf/2007/02%20February/0207_macro_accts.pdf.
The data presented in the integrated accounts for the rest of the world are the mirror image of data shown in the U.S. international transactions accounts published by the Bureau of Economic Analysis. This sector is the same as the sector for the rest of the world in the financial accounts (see table F.106 or L.106 for a description).
This table contains two noteworthy features:
1. The balance sheet excludes nonfinancial assets, including nonproduced nonfinancial assets.
2. In theory, the rest of the world's net lending or net borrowing in the capital account should equal that of the total domestic economy. In practice, however, the difference between these two measures is equal to the discrepancy between the income and product sides of the NIPAs.
Note: For this sector, there is no difference between net savings less net capital transfers paid in the capital account (NIPA) and in the financial account. The sector's statistical discrepancy constitutes the difference between net lending and net borrowing in the capital and financial accounts.