Summary of the System of National Accounts Summery of the system of National Accounts 10 November 2006 Summary of the System of National Accounts Gerard Eding Statistics Netherlands

The core of the system of National Accounts Supply and use tables Sector accounts SAM NAMEA RA TSA Labour accounts

Summery of the system of National Accounts 10 November 2006 The core of the system of National Accounts Supply and Use Tables Description of production process Local KAUs and industries Institutional Sector Accounts Description of all economic processes Institutional units and sectors Labour Accounts Description of the labour market Statistics Netherlands

Summery of the system of National Accounts 10 November 2006 The core of the system of National Accounts Supply and Use Tables Framework, terminology, valuation, source data, current and constant prices Integration and balancing TRANSACTION IDENTITY For each product: Total Supply = Total Use/Demand Statistics Netherlands

Summery of the system of National Accounts 10 November 2006 The core of the system of National Accounts Institutional Sector Accounts Introduction of basics for each institutional sector, integration and balancing TRANSACTION IDENTITY For each transaction category: Total payments = Total receipts BUDGET IDENTITY For each unit/sector: Total uses = Total resources (BI of current/capital transactions = BI of financial transactions) Statistics Netherlands

Summery of the system of National Accounts 10 November 2006 The core of the system of National Accounts Institutional Sector Accounts BALANCE SHEET IDENTITY For each balance sheet item (including Net Worth): Change between value at end of the year and value at beginning of the year = Transaction in capital/financial accounts + Holding gains/losses + Other changes in volume Statistics Netherlands

Summery of the system of National Accounts 10 November 2006 The core of the system of National Accounts Labour accounts Labour variables consistent within National Accounts: Wages Social contributions Consistency between variables automatically leads to correct estimates for derived variables, such as Labour productivity Statistics Netherlands

Summery of the system of National Accounts 10 November 2006 The core of the system of National Accounts SYSTEM OF NATIONAL ACCOUNTS IS A CLOSED SYSTEM WITH BASIC IDENTITIES A FRAMEWORK FOR INTEGRATING AND BALANCING OF DATA (= VALUE ADDED OF NATIONAL ACCOUNTING) NOT ONLY: A SYSTEM FOR PRESENTATION AND ANALYSIS OF DATA Statistics Netherlands

Summery of the system of National Accounts 10 November 2006 Extensions of the system of National Accounts Short term data: quarterly national accounts Regional accounts Satellite accounting Namea SAM / NAM TSA Statistics Netherlands

International developments, guidelines and related issues System of National Accounts 1993 United Nations, OECD, Eurostat, IMF and World Bank (=> ISWGNA) Update in process: Realisation: 2008 Advisory Expert Group (AEG) => country consultation => UN Statistical Commission Main issues: non-financial assets (R&D, leases and licenses, etc.), pensions, government output, financial innovations, … (total of 44 issues)

International developments, guidelines and related issues European System of Accounts 1995 Regulation (not guidelines) Relevant EU discussion groups: WP on National Accounts WP on Financial Accounts CMFB Procedure for changing regulation: SPC => Council Working Group => ECOFIN Specific manuals: government debt and deficit, volume and price measurement, etc.

International developments, guidelines and related issues Administrative uses of NA-data EU Own Resources: GNI and VAT => GNI Committee EU Structural Funds: Regional GDP EMU-criteria for Government Deficit and Debt => CMFB Procedures: Inventories Visits by Eurostat European Court of Auditors Administrative use: good or bad?

Summary of the System of National Accounts Summery of the system of National Accounts 10 November 2006 Summary of the System of National Accounts Gerard J. Eding Statistics Netherlands