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Glossary "I"

I-O accounts. See Input-output (I-O) accounts

I-O output requirements. See Input-output (I-O) output requirements

IIP of the United States. See International investment position (IIP) of the United States

Implicit price deflator. See Implicit price deflator (IPD)

Implicit price deflator (IPD). The ratio of the current-dollar value of a series, such as gross domestic product (GDP), to its corresponding chained-dollar value, multiplied by 100. Related terms: .

Imports of goods and services. Goods and services purchased by U.S. residents from foreign residents.

Imputation. See Imputations

Imputations. Estimates of the value of certain income and product flows that do not take measurable monetary form. In the national income and product accounts (NIPAs) for example, BEA imputes a rental value to owner-occupied housing and a value to services that banks and other depository institutions provide without charge. Related terms: .

Income payments on assets. Payments that result from the ownership of assets. It includes interest payments, dividend payments, reinvested earnings on foreign direct investment in the United States, and rents and royalties paid by private enterprises to government. Related terms: Income payments to the rest of the world, Income receipts on assets.

Income payments to the rest of the world. Consists of compensation paid to foreign residents, income payments on assets to the rest of the world (which includes interest and dividends paid to the rest of the world), and reinvested earnings on foreign direct investment in the United States.

Income receipts from the rest of the world. Consists of compensation paid to U.S. residents by foreigners, income receipts on assets from the rest of the world (which includes interest and dividends received from the rest of the world), and reinvested earnings on U.S. direct investment abroad (USDIA).

Income receipts on assets. For private businesses it consists of interest and dividend receipts from the rest of the world and reinvested earnings on U.S. direct investment abroad. For government, it consists of interest and miscellaneous receipts and dividends.

Input-output (I-O) accounts. Show the relationships between all the industries in the economy and all the commodities that these industries produce and use. The estimates of purchases of commodities are shown in producers' prices. The I-O accounts consist of the make table, use table, direct requirements table, and total requirements tables. The make and use table are prepared in two different ways. The first way uses the Standard Industrial Classification System (SIC) or the North American Industry Classification System (NAICS). The second way begins with the SIC or NAICS but includes adjustments (redefinitions and reclassifications) that move some secondary products from one industry to another to attain a common input structure for commodities produced by industries. The direct requirements table and total requirements tables are computed from the make and use tables with redefinition and reclassifications. Related terms: Annual input-output (I-O) accounts, Benchmark input-output (I-O) accounts.

Input-output (I-O) output requirements. Estimate of output required to satisfy a given level of final use. There are three I-O output requirements, all of which correspond to the total requirements tables. The first shows the total commodity output required to deliver a dollar of a commodity to final uses. The second shows the total industry output required to deliver a dollar of a commodity to final uses. The third shows the total industry output required to deliver a dollar of an industry's output to final uses. Related terms: Input-output (I-O) accounts.

Input-output accounts. See Input-output (I-O) accounts

Input-output output requirements. See Input-output (I-O) output requirements

Intercompany debt flows (direct investment). Loans, trade credits, and other transactions in intercompany account payables or receivables between U.S. parent companies and their foreign affiliates, or between U.S. affiliates and their foreign parents or other members of their foreign parent groups.

Interest and miscellaneous payments. Consist of interest paid by domestic private enterprises and rents and royalties paid by private enterprises to government.

Interest and miscellaneous receipts. Includes rents and royalties received by government from private enterprises, including both monetary and imputed interest receipts.

Interest payments. Government interest paid to persons.

Intermediate inputs. Goods and services that are used in the production process of other goods and services and are not sold in final-demand markets. Related terms: Final use(s), Input-output (I-O) accounts, Intermediate purchases.

Intermediate purchases. Purchases of intermediate inputs made by industries or government. Related terms: Final use(s), Input-output (I-O) accounts.

International Investment position. See International investment position (IIP) of the United States

International investment position (IIP) of the United States. Value of accumulated stocks of U.S.-owned assets abroad and the accumulated values of foreign-owned assets in the United States at a point in time; the net IIP is the former minus the latter. Related terms: .

International Investment position of the United States. See International investment position (IIP) of the United States

Intra-firm trade in services. Receipts and payments between U.S. affiliates and their foreign parents, and between U.S. parents and their foreign affiliates, for services provided to one another. They consist of royalties and license fees for the use or sale of intangible property or rights (including patents, trademarks, and copyrights) and of receipts and payments for other private services (such as service charges, rentals for tangible property, and film and television tape rentals). Related terms: Foreign parent, U.S. affiliate.

Inventory valuation adjustment. See Inventory valuation adjustment (IVA)

Inventory valuation adjustment (IVA). An adjustment made in the national income and product accounts (NIPAs) to corporate profits and to proprietors' income in order to remove inventory "profits," which are more like a capital-gain than profits from current production. Related terms: .

Inward investment. Foreign residents' investment in U.S. assets.

IPD. See Implicit price deflator (IPD)

IVA. See Inventory valuation adjustment (IVA)