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IV. Household final consumption expenditure and gross capital

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IV. Household final consumption expenditure and gross capital Powered By Docstoc
					IV. Household final consumption
  expenditure and gross capital
           formation

         Vu Quang Viet
          UNSD consultant
    Household income and expenditure survey
        and income in national accounts

•     Employers’ imputed social contribution (calculated by
      statisticians and unknown to employees) particularly
      for the government sector to guarantee that
      contribution is adequate for the government to pay
      future social benefits to current employees in cases of
      defined benefit scheme;
•     Correction by national accountants for fisim in interest
      payable and interest receivable and insurance service
      charges by national accountants in pension and
      insurance schemes in order to distinguish between
      service charges (production) and income flows;
•     Imputation of services from owner-occupied housing, a
      purely national account concept.
       COE receivable by household sector
 Compensation of      Household
                                         National accounts
   employees (COE)      survey
                                   Conceptually similar, they are 
                                     income receivable by 
                                     residents.

COE                       ð        COE based on establishment 
                                     survey must be adjusted to 
                                     exclude COE payable to 
                                     abroad and include those 
                                     earned from abroad. 


                                   Must be adjusted to include 
Employers' social    Less reliable   imputed employers’ social 
  contribution                       contributions 
Mixed income receivable by household sector
                             Household
Mixed income                                      National accounts
                               survey
Mixed income from             May be    For major crops, estimate output, IC
   agricultural activities       less      and mixed income by land use
   (from sale and own          reliable    and per yield, but for minor
   consumption except            than      backyard activities, national
   owner-occupied                 info     accountants have to rely on
   housing)                      from      household surveys
                                   NA



Residential rental income                Rely on household survey for this
  and other rental                         item or production statistics and
  income less cost                         real estate sector.
Mixed income from other                  Rely on hH survey such as own-
   activities                              production of goods at home,
                                           own-construction, etc.
      Property income and current transfers
                    Household
Mixed income                              National accounts
                      survey
Property income                  May rely on banking statistics and
                                   government finance statistics


Current transfers
                    Much less
                      reliable
Income taxes                     Government finance statistics


Social transfers                 Government finance statistics,
                                   pension and insurance statistics
        Analysis of country data
• Graphs show percentages of difference (SNA value – Survey
  value)/Survey value.
• In general, SNA values are significantly higher than survey
  values, except mixed income.
• COE by 20-45%, Wages & salaries 5-25%. Given wages and
  salaries are more reliable, focus should be on them, while
  social contributions may be estimated from administrative
  sources.
• Mixed income, exept Thailand, is generally over-estimated by
  HS, varies from -60% to 20%.
• Property and current transfers are extremely underestimated
  by HS.
• PCE are also underestimated by HS. Differences are at least
  40% Even PCE of food are at least 30%.
• For PCE, Macao and Mongolia are exceptions, why?
• Gross capital formation is overestimated in Indonesia.
Compensation of employees
Mixed income
Property income
Social contributions, benefits &
    other current transfers
Final consumption expenditure &
    Purchased in the market
Food, manufactured goods consumption
  Lessons drawn from county data
• From the data supplied by the countries
  participating in this workshop, it is clear that for
  national accounts purposes:
   – Data on household final consumption obtained by
     household survey is not comprehensive enough for
     national account purposes.
   – Data on compensation of employees is more
     comprehensive, but still need further analysis for
     weakness.
• It is thus important that GDP should be compiled
  using simultaneously by three approaches
  through the use of the commodity flow
  technique.
   What to do about the discrepancy
   problem between HH surveys and
        National Account (NA)?
• Is the trend over time in HH survey the same as
  NA?
• Do you use survey results in any way in NA
  estimation?
• Or do you estimate GDP by final expenditure
  mainly by residual approach? Or supporting by
  commodity flow approach?
• Was there any improvement of HH survey over
  time in your country experiences?

				
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posted:6/17/2013
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