OECD-Eurostat Expert Group Measuring disparities in a national

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OECD-Eurostat Expert Group Measuring disparities in a national Powered By Docstoc
					Expert Group
Micro statistics on
household income,
consumption and wealth
First meeting, Paris
23 – 25 March 2011
        Presentation outline
• Background: i) economic wellbeing and
  policy context; ii) Recommendations
  concerning supporting statistics; iii)
  CSTAT work program 2011 and 2012

• Workplan: i) focus of Micro Expert Group;
  ii) plan for the meeting


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        Background: concepts
• Economic well-being: command over resources.
• Central components of economic wellbeing are
  household income, consumption and wealth.




                                                 3
      Background: policy context
• Well designed social and economic policies need to rely
  on distributional measures of:
   - income
   - patterns of consumption
   - consumer debt and net worth
   - redistribution (tax and transfer systems)
• Being able to relate and analyse jointly these household
  level measures provides additional insight into people’s
  behaviours and policy outcomes


                                                   4
          Background: final goals
Better designed policies and programs hold the promise of
delivering:

    Improved economic wellbeing to individuals
    Higher economy wide performance
    Better individual and societal outcomes across a range of
     dimensions of social concern
    Ensuring economic sustainability.




                                                            5
          Background: statistical
              requirements
Gathering of coherent information on the economic
situation of households

   – has significant data requirements that go beyond measurement
     currently undertaken in most countries, e.g. it requires data on
     the distribution of household wealth, as well as linked
     information on income, consumption and wealth


   – requires internationally recognised statistical frameworks and
     standards to support practitioners and data users in the field.


                                                             6
           Background: previous
           recommendations (1)
• Canberra Group Handbook (2001)
  – recommended further research on the relationships between income,
    consumption and wealth


• 17th International Conference of Labour
  Statistics (2004)
  – recommended further guidance on income & expenditure statistics


• CES Bureau review of income, living
  conditions and poverty statistics (2008)
  – recommended work towards an integrated framework for household
    income, expenditures and wealth
                                                              7
              Background: previous
              recommendations (2)
• Stiglitz-Sen-Fitoussi report (2009)
   - National accounts figures are critical but also limited for
     analyses of economic well-being.
   - A greater focus on the household perspective and the
     distribution of income, consumption and wealth is
     recommended.
   - Also noted:

      “Ideally, such information should not come in isolation
      but be linked, i.e. one would like information about how
      well-off households are with regard to different
      dimensions of living standards: income, consumption
      and wealth. After all, a low income household with above
      average wealth is not necessarily worse off than a
      median income household with no wealth”.

                                                           8
          Background: previous
          recommendations (3)
• G20 Finance Ministers and Central Bank
  Governors
  – Recommendation 16 of report on The Financial
    Crisis and Information Gaps (2009) noted:

    “… statistics experts (should) seek to compile distributional
    information (such as ranges and quartile information) alongside
    aggregate figures, wherever this is relevant. The Interagency Group
    on Economic and Financial Statistics is encouraged to promote
    production and dissemination of these data in a frequent and timely
    manner. The OECD is encouraged to continue its efforts to link
    national accounts data with distributional information”.

                                                           9
     Background: CSTAT 2011-2012
           work programme
Establishment of two Expert Groups …

• First, to measure disparities in a national accounts
  framework
   - Aim is to develop prototype accounts for the household sector, consistent with
     SNA totals, showing the distribution of household economic resources between
     households of different characteristics.

• Second, on micro statistics on household income,
  consumption and wealth
   - Aim is complement and expand the extensive work already undertaken in with
     respect to income measurement and analysis., to consumption and wealth, with a
     focus on supporting the integrated collection and analysis of the data.


                                                                     10
      Work-plan: focus of Expert
           Group on ICW
Contribute to the OECDs conceptual and statistical work in the
field of household economic resources, living conditions and
sustainability, by ...

   – Defining standards and guidelines for micro statistics on the
     distribution of household wealth, including through a review of
     country practices.


   – Developing a framework for integrating micro data on income,
     consumption and wealth (addressing conceptual issues and
     practical challenges for combining and analysing information on
     each of these dimensions).


                                                              11
            Work-plan: existing inputs
Extensive international work has already been undertaken with
respect to the measurement of household income, including …

   – International standards, adopted by the 17th International Conference of
     Labour Statisticians in 2003.


   – The Canberra Group Handbook on Household Income Statistics,
     providing practical guidance for their collection, analysis and
     dissemination.
       • Drafting of second edition complete. Plans to release later this year, following
         consultation with CES countries.




                                                                               12
             Work-plan: resources
• 26 Expert Group members

• Secretariat – OECD Statistics Directorate
   Marco Mira d’Ercole (OECD Statistics Directorate)
   Nicolas Ruiz (OECD Statistics Directorate)
   Bindi Kindermann (ABS provided 1 staff year in-kind)


• Other
   Financial support from Swiss FSO
   Claudia Biancotti, Bank of Italy
   Barbara Dunlop, consultant – engaged to prepare annotated table of
   contents for wealth standards and guidelines


                                                                13
Work-plan: meeting objectives
1. Discuss background to work and desired outcomes

2. Share experiences and key lessons

3. Finalise Terms of Reference of EG

4. Agree scope, allocation and timelines for EG’s work
   – Development of standards and guidelines for wealth statistics
   – Development of a framework for income, consumption and
     wealth statistics


                                                        14
Work-plan: plan for the meeting (1)

Session 1: Background               9.00 – 11.00am, 23 March 2011

  • Background to work and desired outcomes
  • Round table discussion
          •    Members to introduce themselves, including their background and
               interest in the work

   •   Nominate Chair
   •   Discuss and agree Terms of Reference

Session 2: EG DNA                    11.30 – 12.00pm, 23 March 2011

  • Background, goals, steps and outputs


                                                                 15
Work-plan: plan for the meeting (2)
Session 3: Wealth statistics                         Afternoon, 23 March 2011




  •   A. Sharing experiences and key lessons
        •   Presentations of selected examples e.g. LWS, ECB, ABS, ONS

  •   B. Developing standards for wealth statistics
        •   Presentation of draft annotated table of contents
        •   Discuss ToC and agree on required changes
        •   Discuss work plan, including allocation of tasks
        •   Presentation of data sources and methods




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Work-plan: plan for the meeting (3)
Session 4: Integrated framework                          Morning, 24 March 2011


  •   A. Sharing experiences and key lessons
        •   Presentations of selected examples e.g. Statistics Canada, Statistics
            Denmark, ABS, Statistics Korea

  •   B. Developing a statistical framework
        •   Present issues paper on purpose, scope and expected outcomes
        •   Discuss and agree, with any changes, draft outline
        •   Discuss work plan, including allocation of tasks


Session 5: Work plan and timelines                     Morning, 25 March 2011


  •   Discuss detailed work plan and timelines
  •   Finalise Terms of Reference
  •   Discuss next steps

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