1. Methods used by OECD Countries to Estimate the Stock of Land Working Party on National Accounts 3-5 October 2007 Charles Aspden, OECD

2. Balance sheet Assets – Non-financial Produced – Fixed – Inventories – Valuables Non-produced – Tangible » Land » Sub-soil – Intangible – Financial Liabilities Net worth

3. Balance sheets Nominal Revaluation account – Neutral holding gains/losses – Real holding gains/losses Real or volume terms Changes in net worth

4. Some uses of Balance Sheets Assessment of a nation’s wealth, its disposition, and changes over time As a numeraire – to put things in perspective Explanator of behaviour – e.g. household saving and consumption

5. Balance sheet Assets – Non-financial Produced – Fixed – Inventories – Valuables Non-produced – Tangible » Land » Sub-soil – Intangible – Financial Liabilities Net worth

6. Survey of methods used to estimate stock of land 14 OECD countries responded, of which 9 reported that they derive estimates: Australia, Canada, Czech Republic, Japan, Korea, Slovak Republic, US (by sector by different types of land use) Finland (intermittently) New Zealand (rural land only)

7. Survey of methods used to estimate stock of land Results are provisional Paper to be re-written with more information

8. Survey of methods used to estimate stock of land cont. Methods used fall into 4 major categories: Surveys Cadastres Population census Land-to-structure ratios

9. Survey of methods used to estimate stock of land cont. Surveys: Czech Republic, Slovak Republic, US, Used by Canada, NZ, Japan for agricultural land Land areas from survey multiplied by price per hectare Price per hectare based on transactions

10. Survey of methods used to estimate stock of land cont. Cadastre (a database maintained by a government agency in order to value land for tax and/or other administrative purposes): Australia, Finland, Japan and Korea Comprehensive but values can be understated. Australia and Korea report that they make adjustments

11. Survey of methods used to estimate stock of land cont. Population census: a model based on population census data used to determine value of land under dwellings: Australia, Czech Republic Australia: – Value (D+L) = Dwelling count x unit price – Value (L) = Value (D+L) – Value (D)

12. Survey of methods used to estimate stock of land cont. Czech Republic: flats for example – Value (FL) = (Value (2001)/Total area of flats) x Area per flat(2001) x Number of flats x Price index

13. Survey of methods used to estimate stock of land cont. Land-to-structure ratios: Canada At a very detailed level LSRs are calculated as – LSR= (APV-BPV)/BPV, where – APV is total value of residential unit – BPV is permit value for structure Aggregated to total economy level V(DL) = LSR(D) x V(D) Similar approach for non-residential