Non-financial balance sheets for the Netherlands

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Presentation transcript:

Non-financial balance sheets for the Netherlands Murat Tanriseven 1-3 December 2010, WPNA meeting

Outline Produced assets Subsoil assets Fixed assets Inventories Consumer durables Land Subsoil assets Division by institutional sector Results Further research

Fixed assets Perpetual Inventory Method (PIM) Livestock for breeding,dairy and draught: direct observation

Inventories Materials and supplies Work in progress Finished goods Goods for resale Source: business surveys

Land - Land underlying dwellings and nonresidential buildings Tax value of real estate (incl. land) – PIM value buildings - Land under cultivation Land use statistics and price of agricultural land

Subsoil assets Oil and gas reserves Net present value method Physical extraction scenario’s – decreasing Resource rent (3 year average) – endogeneous Other subsoil assets -Infinite reserves -Constant extraction scenario (assumption)

Consumer durables - Same method that is used for fixed assets - Difference: consumption of fixed capital - Consumption that is disappeared from SUT, but is still in use by households - 7 different categories, 22.000 euro per household

Division into institutional sectors - Fixed assets: ratio of production per date of construction - Inventories: ratio of production and use - Land: ratio of dwellings and non-residential buildings - Subsoil assets: government sector - Consumer durables: households sector

Results (1) 1996 2000 2005 2008 Billion € Fixed assets 1052 1302 1651 1892 Inventories 55 68 73 91 Land 264 753 1037 1233 Subsoil assets 71 110 177 Consumer durables 98 126 146 157 All assets 1537 2320 3017 3550

Results (2) 2008, billion € S.11 S.12 S.13 S.14 S.15 S.1 Fixed assets 709 35 349 796 2 1892 Inventories 83 8 92 Land 339 22 60 812 1 1234 Subsoil assets 177 Consumer durables 157 All assets 1131 57 586 1773 3 3550

Results: Country comparison, 2008 Nether-lands France Japan Canada Australia Dwellings 28% 30% 10% 23% 21% Non-residential buildings 20% 15% 29% 19% Inventories 3% 4% 2% Non-produced assets 42% 45% 49% 48% Other fixed assets 7% 8% 6%

Further research Estimations for other natural assets Improved connection with sector accounts