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Operational Material. Outline Topics to be covered Part I: National Accounts Activities Part II: Reporting Requirements.

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Presentation on theme: "Operational Material. Outline Topics to be covered Part I: National Accounts Activities Part II: Reporting Requirements."— Presentation transcript:

1 Operational Material

2 Outline Topics to be covered Part I: National Accounts Activities Part II: Reporting Requirements

3 3

4 4 National accounts statistics Basic Heading level data Prices Accuracy Reliability of PPP- deflated GDP Comparability Expenditures Consistency Role of National Accounts in the ICP

5 Comparability Problems in the National Accounts Exhaustiveness of GDP All economic activities have to be included: Own-account production Observed Non-Observed Legal Illegal FormalInformal Inconsistent Treatment of Problem Areas Income in kind FISIM Net expenditures abroad Dwellings NPISH 5

6 Carry out N.A. work for comp. resistant areas Use N.A. data to help edit survey prices Price Surveys Implement Commodity Flow Review GDP Classification Select Major Products Develop vector of 2011 GDP expenditures Identify Data Sources for Major Products Prepare Matrix of Data Availability for Major Products Use Survey Prices in GDP Implement Price Tracking Early data need to identify & resolve data problems Create Metadata Flow Chart for 2005 GDP expenditure Update Metadata Flow Chart for latest year possible Compile GDP & Main uses for 2011 Early Metadata Flow Chart for

7 7 Initial Values for L.Y.* Data Sources Adjustments to L.Y.* BH Values for L.Y.* Price Review for L.Y.* Commodity Flow Final Values for 2011 Adjustments to 2011 BH Values for 2011 Price Review for 2011 Variations * L.Y. : Latest year available Activity Flow Chart

8 8 “Borrowing” a structure Using expert opinion “Borrowing” a per capita quantity or volume Extrapolation Direct estimation Adjust the “borrowed” structure by a vector of the price level indexes between the two countries Consult retailers, manufacturers, marketing experts, chambers of commerce and other sources Multiply the per capita quantity or volume by the population of the “borrowing country” and the price level index between the two countries Update an earlier expenditure breakdown using assumptions on population growth, price changes etc The preferred method, if data sources exist Requires clustering countries for each BH or group of BHs Five approaches to splitting GDP

9 9 Production Process Related NPISH Housing Actual Rents Imputed Rents Health Education Others Education Collective Services Health Use GFS as source   Compensation of employees   Intermediate consumption   Gross Operating Surplus   Net Taxes on Products   Receipts from Sales                     Special Basic Headings

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11 Reporting form collects the basic heading expenditure estimates Source data documents how expenditures on basic headings were estimated Price formation 4 forms  steps involved in adjusting values from basic to purchasers’ prices Commodity flows Total supply of important products = intermediate and final uses Variations between 2005 & 2011 provide some basic edits by comparing per capita notional real expenditures in 2005 and Five Reporting forms

12 12 GDP Classification Expenditure Value Local Currency Codes Headings Gross Domestic Product Individual Consumption Expenditure By Households Food And Non-alcoholic Beverages Food Bread And Cereals Rice [….] Table 1: Reporting Form

13 13 GDP Classification Codes Headings N.A. Original Sources Adjustme nts Ex. V Sources Validation Gross Domestic Product Individual Consumption Expenditure By Households Food And Non- alcoholic Beverages Food Bread And Cereals Rice [….] Table 2: Source Data & Metadata

14 14 Basic heading Product description Percentage Applied Price Basic price + Taxes/Custom Duties on products % - Subsidies on products % = Producers’ price + VAT not deductible by the purchaser % + Transport charges % + Trade margins % + Installation Costs [for Equipment Items] % = Purchasers’ price Table 3: Price Formation

15 GDP Classification Supply Total Supply = Uses Uses Code Headings Productio n & Imports Margins +Customs + VAT+ Taxes Interm. Cons. Hhold + Govt + GFCF + ΔS Exports Gross Domestic Product Individual Consumption Expenditure By Households Food And Non- alcoholic Beverages Food Bread And Cereals Rice [….] Table 4: Commodity Flow

16 GDP Classification Codes Headings Exp. in nat. currency Average “price” Notional real exp. Per cap. Exp. in nat. currency Average “price” Notional real exp. Per cap. % Change in not. Real exp GDP … … … … [….]. Table 5: Per Capita Variations

17 Initial Values for L.Y. Data Sources Adjustments to L.Y. BH Values for L.Y. Price Review for L.Y. Commodity Flow Final Values for 2011 Adjustments to 2011 BH Values for 2011 Price Review for 2011 Variations Reporting Forms Flowchart

18 FormsStatusWhatFor which year? 1. Reporting form MandatoryAvailable BHs or aggregates Latest available year and the reference year Source data Recommended, but alternative template can be used Available BHs or aggregates Latest available year and the reference year Price formation OptionalImportant products Latest available year and the reference year Commodity flows OptionalImportant products / aggregates Latest year 5. Variations between 2005 & 2011 OptionalAll BHs2005 & 2011 Mandatory/Optional Forms

19  Use of the MORES is optional. Main Objectives to assist estimate expenditure values to report on underlying processes 19 Model Report on Expenditure Statistics (MORES)

20 Part I 20 MORES Layout Objectives Uses of the MORES Objectives Uses of the MORES Introduction Quality Assurance Check List Eurostat “Tabular Approach to Exhaustiveness” Quality Assurance Check List Eurostat “Tabular Approach to Exhaustiveness” Part II Form 2- Source data & adjustments Metadata Form 2- Source data & adjustments Metadata By basic heading Part III Form 1- Reporting Table GDP Classifica tion

21 21 Objectives and Advantages Eurostat “Tabular Approach to Exhaustiveness” Defines standard set of non-exhaustiveness and presents them in a tabular framework Provides a comprehensive and systematic assessment to ensure exhaustiveness of NA Facilitates cross-country comparisons of adjustments and adjustment methods Provides for similar level of coverage of NA

22 ICP Code Hea- ding Exp. obtained directly from the country's NA Exp. information from the original data source Exp. value Refere nce Year Data Source Adjustment documentation & adjusted value Type Descrip tion Adjus- ted Exp. BH Value for the latest year availa- ble Latest year: GDP Indivi- dual Consu mption Exp by HH 22 Form 2- Source data & adjustments

23 23 Completing Part II in 5 Steps Complete column 3 of Table 1 with whatever aggregate estimates are available Step 1 Step 2 Apply 5 approaches By BH GDP Classification Codes Classification Headings Names Initial Expenditures Values (GDP and main uses) Basic heading values estimated using the proposed 5 approaches Discrepancies (3)-(4) Step 3 Complete column 4 of Table 1 Automatic Step 4 Report discrepancies between columns 3 and 4 under column 5 Aggregate level Step 5 Make adjustments to resolve discrepancies All levels

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