Part III. Sector Accounts JAN RAMAKER 7 November HOUSEHOLDS SECTOR JAN RAMAKER Statistics Netherlands: National accounts in Practice

Part III. Sector Accounts 7 November Contents Economic characteristics of households Relations to other sectors Data sources Overview of accounts Exercise Statistics Netherlands: National accounts in Practice

1. Economic characteristics of households definition of households principal roles of households institutional units institutional sector households sector households sub sectors

1. Economic characteristics of households Part III. Sector Accounts 7 November 1. Economic characteristics of households Definition of households Small groups of persons who share the same living conditions who pool income and wealth who consume certain types of goods and services collectively, mainly housing and food Statistics Netherlands: National accounts in Practice

1. Economic characteristics of households Part III. Sector Accounts 7 November 1. Economic characteristics of households Principal roles of households consumers (final consumption) employees (supply of labour) producers (production of market goods and services, unincorporated producers/ enterprices) Statistics Netherlands: National accounts in Practice

1. Economic characteristics of households Part III. Sector Accounts 7 November 1. Economic characteristics of households Households are institutional units Households always enjoy autonomy of decision in respect of their principal function and must therefore be institutional units, even though they do not keep a complete set of accounts (ESA 2.13.a) Statistics Netherlands: National accounts in Practice

1. Economic characteristics of households Institutional sector resident institutional units grouped together into mutually exclusive sectors according to their economic behaviour the households sector consists of all resident households

1. Economic characteristics of households Households sector includes: households as consumers persons living permanently in institutions (institutional households) household enterprises household unincorporated market enterprises household enterprises producing for own final use

1. Economic characteristics of households Part III. Sector Accounts 7 November 1. Economic characteristics of households The households sector is subdivided in: employers (including own-account workers) Employees recipients of property incomes recipients of pensions recipients of other transfer incomes Others Criterion: the largest income category of the household as a whole Statistics Netherlands: National accounts in Practice

2. Relations to other sectors S.11 Non-financial corporations sector S.12 Financial institutions S.13 Government sector S.14 Households sector S.15 Non-profit institutions serving households S. 2 Rest of the world accounts

Part III. Sector Accounts 7 November 3. Data sources Direct sources Household surveys Indirect sources Fiscal data Business registers / production statistics Dual actoring (cross classification table) Other (social security funds, private funded pension schemes, National Central Bank etc.) Statistics Netherlands: National accounts in Practice

Part III. Sector Accounts 7 November 4. Overview of accounts A. Current accounts B. Accumulation accounts C. Balance sheet Statistics Netherlands: National accounts in Practice

4. Overview of accounts A. Current accounts Part III. Sector Accounts 7 November 4. Overview of accounts A. Current accounts (billion euro) PRODUCTION ACCOUNT Uses Resources Intermediate Market output (P11) 113.9 Consumption (P2) 66.4 Non-market output (P12): - for own final cons. (P12B)27.2 - own-acc. cap.form. (P12A)1.1 Value added, gross (B1g) 75.8 142.2 142.2 ==== ==== Statistics Netherlands: National accounts in Practice

4. Overview of accounts A. Current accounts Part III. Sector Accounts 7 November 4. Overview of accounts A. Current accounts (billion euro) GENERATION OF INCOME ACCOUNT Uses Resources Compensation of Value added, gross (B1g) 75,8 employees (D1) 19.2 Other taxes on prod. 1,1 minus subs. (D29-D39) 0.8 Cons. of fixed capital (K1) 21.0 Operating surplus/ Mixed income (B3n) 35.9 76.9 76.9 === === Statistics Netherlands: National accounts in Practice

4. Overview of accounts A. Current accounts Part III. Sector Accounts 7 November 4. Overview of accounts A. Current accounts (billion euro) ALLOCATION OF PRIMARY INCOME ACCOUNT Uses Resources Interest (D41) 18.0 Op. surplus/mixed inc. (B3n) 35.9 Other (D45) + (D.422) 0.8 Compensation of employees (D1) 293.3 Interest (D41) 10.4 Dividends (D.421) 9.3 Withdrawals from quasi’s(D.422) 1.1 Balance of Property income attributed primary incomes (B5) 354.5 to policyholders (D.44) 23.1 373.2 373.2 ==== ==== Statistics Netherlands: National accounts in Practice

4. Overview of accounts A. Current accounts Part III. Sector Accounts 7 November 4. Overview of accounts A. Current accounts (billion euro) SECONDARY DISTRIBUTION OF INCOME ACCOUNT Uses Resources Current taxes (D5) 55.5 Balance of Social contributions (D6) 138.4 primary incomes (B5) 354.5 Other current transfers (D7) 24.2 Social benefits (D6) 101.3 Oth. current transfers (D7) 21.3 Disposable income (B6n) 259.1 477.2 477.2 ==== ==== Statistics Netherlands: National accounts in Practice

4. Overview of accounts A. Current accounts Part III. Sector Accounts 7 November 4. Overview of accounts A. Current accounts (billion euro) USE OF INCOME ACCOUNT Uses Resources Final consumption Disposable income (B6n) 259.1 Expenditure (P3) 257.6 Adjustment for change in net equity of hh in Saving (B8n) 20.2 pension funds reserves(D8)18.7 277.8 277.8 ==== ==== Statistics Netherlands: National accounts in Practice

4. Overview of accounts B. accumulation accounts Part III. Sector Accounts 7 November 4. Overview of accounts B. accumulation accounts (billion euro) CAPITAL ACCOUNT Changes in assets Changes in liab/NW Gross fixed capital Saving (B8n) 20.2 Formation (P51) 36.9 Capital transfers (D9): Consumption of - receivables 8.5 fixed capital (K1) -21.0 - payable -9.9 Changes in inventories (P5A) -0.1 Acq. les disposals of (K2) -0.4 Net lending (B9) 3.3 Total 18.8 18.8 === === Statistics Netherlands: National accounts in Practice

5. Exercise

Part III. Sector Accounts 7 November Contents Economic characteristics of households Relations to other sectors Data sources Overview of accounts Exercise Statistics Netherlands: National accounts in Practice

Part III. Sector Accounts Questions? 7 November HOUSEHOLDS SECTOR Questions? Statistics Netherlands: National accounts in Practice