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national income accounting vs economic policythe quantitative information associated with national income accounting can be used to determine the effect of various economic policies considered an aggregate of the economic activity within a nation national income accounting provides economists and statisticians with detailed information that can be used to track the health of an economy and to forecast future growth and development the data can provide guidance regarding inflation policy and can be especially useful in the transitioning economies of developing nations as well as statistics regarding production levels as related to shifting labor forces this data is also used by central banks to set and adjust monetary policy and affect the risk free rate of interest that they set governments also look at figures such as gdp growth and unemployment to set fiscal policy in terms of tax rates and infrastructure spending globally the international monetary fund imf the world bank and the organization for economic cooperation and development oecd put together national income accounting information and publish it criticisms of national income accountingthe accuracy of analysis relating to national income accounting is only as accurate as the data collected failure to provide the data in a timely fashion can render it useless in regard to policy analysis and creation additionally certain data points are not examined such as the impact of the underground economy and illegal production this means these activities are not reflected in the analysis even if their effect on the economy is strong as a result it can be argued that certain national accounts such as gdp or the consumer price index cpi used to measure inflation do not accurately capture the real economic output of the economy 