Patrick O’Hagan, Statistics Canada

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Presentation transcript:

Patrick O’Hagan, Statistics Canada Measurement error and balancing in the SNA Capital and Financial Account OECD Working Party on Financial Statistics/ Working Party on National Accounts October 2008 Patrick O’Hagan, Statistics Canada

Background ● Measurement error in the SNA ● Measurement error in the Financial Account - Instrument discrepancies - OECD financial databases ● Measurement error in the Capital and Financial Account - Sector discrepancies - Capital Account discrepancies

Capital and Financial Account / Flow of Funds Account

Measurement error information in the Capital and Financial Account ● Instrument measurement error ● Sector measurement error ● Interdependence of types of measurement errors ● Link to the Balance Sheet Account Balancing methodology in Canada General comments - Summary process

Balancing methodology in Canada DATA SOURCES AND ISSUES FOR CFA ● Saving-investment estimates ● Government sector ● Non-resident sector ● Corporate sector Non-financial corporations Financial corporations ● Household sector

Balancing methodology in Canada PROCEDURES ● 3 blocks of inter-related data used in the analysis — funds raised, matrix of sectors, matrix of categories ● CFA matrix closed in sequence, leveraging the higher quality data ● Remaining items can be difficult to close off in some quarters ● Seasonally-adjusted data

Closing remarks ● Quarterly production of Capital and Financial Account a complex undertaking - Matrix dimensions; uneven data quality; need for integration with SNA; evolution of economic and financial activity ● Canada leverages the integrated SNA in the process; and links to quarterly BSA ● Securities databases and counterpart data will continue to be essential ● Finding staff with the required background to work in this domain continues to be a challenge