Volunteer Output and the National Accounts: An Empirical Analysis - Paperback

by Yvon H. Pho (Author), U. S. Department of Commerce Bureau of E (Created by)

Volunteer activities attempt to promote a sense of community unity and ownership. According to the Bureau of Labor Statistics of the US Department of Labor, approximately 59 million people participated in volunteer activities in the year beginning September 2001. Although utility is derived from participation, no monetary compensation is received. Therefore, the value of volunteer output is generally not recognized in the national economic accounts, as defined by the 1993 System of National Accounts. This research paper has three primary objectives. The first is to estimate a monetary value for volunteer activities. The second is to identify demographic characteristics of individuals most likely to volunteer. The third and final objective is to explore those industries with the greatest number of volunteer labor hours. Data for this study come from the September 2002 Current Population Survey Volunteer Supplement and are analyzed using a cross-section Probit analysis coupled with supplementary econometric estimation techniques.