Gross National Product has become a leading and well understood indicator of national activity since its inception in the 1940’s. This report is the first of a three-part series pioneering the construction of the Gross Regional Product of a giant urban area. The project has been made possible by a grant from the Andrew W. Mellon Foundation.
This first volume considers government revenues and expenditures in the New York Urban Region and four sectors thereof and calculates the government’s share of the Gross Regional Product. The second report will portray the Region’s business accounts and the third its household accounts and the economy as a whole. Together they will provide a picture of the Region’s money flows.