Satellite accounts THE CONTRACTOR IS ACTING UNDER A FRAMEWORK CONTRACT CONCLUDED WITH THE COMMISSION.

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Presentation transcript:

Satellite accounts THE CONTRACTOR IS ACTING UNDER A FRAMEWORK CONTRACT CONCLUDED WITH THE COMMISSION

What are satellite accounts? They are extensions of the central system of national accounts, which is taken to be 1. institutional sector accounts 2. the supply-use framework 3. Bridge tables linking supply-use to sectors 4. Tables on expenditure by function 5. Tables on population and employment

What are satellite accounts? Satellite accounts involve a re-arrangement and expansion of central system classifications They often focus on functional themes (e.g. environment) rather than industry and products They can involve a change in concept e.g. where the production boundary lies, extension of scope of assets

What do they offer? Satellite accounts enable a particular aspect of economic and/or social life to be high-lighted in the terms of national accounts The national accounts framework enables difficult issues to be described in a formal manner: How important is tourism to our economy? How would our picture of the economy change if human knowledge was taken as a capital asset?

Advantages of satellite accounts They are based on a clear set of definitions They follow the systematic accounting approach of the SNA/ESA So they are internally consistent, and coherent They benefit from national accounts statistics, their well-defined conceptual basis and their international comparability

Examples Agriculture Labour Social protection Tourism Informal sector Non-profit institutions Tax revenues

Examples Environmental Health Household production Productivity and growth R & D Supplementary pensions table

Common practice Usually the supply-use tables play a key part in satellite accounts The detail of industries and product, and how they are supplied and consumed, gives a starting point for addressing issues such as What do we mean by tourism? How important is it ? Who benefits from it?

Common practice Which industries and products and functional use categories reflect the economic effect of tourism? Which industries, products, and functional categories need to be expanded to enable tourism to be separately identified? What extra information on industry inputs would help? – employment, capital assets?

Supply for key industries/products ESA 2010 Table 22.5

Supply table for tourism Key Ind 1 Key ind 2 Total Other ind’s Imp-orts Total supply Key prod’s 1 Key prod’s 2 Other prod’s

Use table for tourism (part 1) Key Ind 1 Key Ind 2 Total Other Ind’s Key prod’s 1 Key prod’s 2 Other prod’s CoE Other taxes Cons of cap Op. surplus Other

Use table for tourism (part 2) Final Consumption Cap. form Exp-orts Total HFCE GFCE NPISH Key prod 1 Key prod 2 Others

Agriculture Economic Accounts for Agriculture Production account, generation oif mincome account, entrepreneurial income account, capital account for agriculture Detail of supply and use of products, plus non-agricultural secondary activities such as B&B, camping sites, etc.

Environmental accounts There are international guidelines on environmental accounts: System of Environmental Accounting SEEA, 2003) The accounts show the contribution of the environment to the economy, and the effect on the environment of economic activity Key – shows depletion of natural resources (a free good), and the degradation of the environment

Environment accounts Show the use of products including natural resources and the physical volume of by-products harmful to the environment Transforms the supply and use framework into physical flows so that demand categories can be sen to generate harmful side-effects

Health accounts OECD A System of Health Accounts It answers the questions: What is used to produce health care? Who supplies these inputs? What are the sources of funding?

Health care Health care goods and services are split into many types The headings of the supply-use table are expanded and extra data used to extend the framework

Household production ESA/SNA recognises household creation of goods which could be marketed, as production ESA does not recognise unpaid services carried out by household members, nor volunteer services, as production

Household production The aim of the satellite account is to recognise and value the unpaid for services provided within a household, to provide a complete picture of production, and to show how income, consumption and saving is altered by type of household The services to be recognised are only those which can be provided for another user

Household production Sources are household budget surveys, time-use studies – both with limited sample size usually Functional headings such as caring for children can be spread across COICOP headings to link to national accounts Spending on durable goods such as furniture is recorded as capital formation, and an associated capital consumption profile must be estimated.

Household production Household services can be valued at market prices of equivalent products Or a cost approach requires an estimate of the compensation of employees for such work As usual, these constructs are set up in a supply use framework so that estimates of output, uses and income are all generated in a consistent manner

Productivity and Growth accounts Productivity change is seen as a driver of increased living standards in an economy It is widely used by analysts and policy makers to judge the “success” of economic policy It is necessary to measure the role of capital assets in promoting growth, to establish useful measures of productivity

Productivity The national accounts use table is the starting point for productivity analysis. Value added is broken down into components, including labour inputs in volume terms, and the contribution of the use of capital assets in the industry The use of assets (capital services) must be estimated using model assumptions on the degradation and life of different classes of assets

KLEMS KLEMS growth and productivity accounts have been developed world-wide. K – Capital L – Labour E – Energy M – Materials S - Services

KLEMS Supply-use tables provide the core national accounts structure for the KLEMS accounts Additional information needed is Volume information on labour underlying CoE Estimating the use of capital assets (capital services) from modelling degradation of capital stock

Social protection Social protection in national accounts terms is provided by the benefits transferred to households to meet their risks and needs. So benefits such as social security payments (government old age pensions), other pensions earned through work, free health care from the government, health insurance schemes from business,

Social protection The European System of integrated Social Protection Statistics (ESSPROS) (Eurostat, 2008) The accounts give the size and composition of social protection benefits, their financing and administrative costs

Social Protection The benefits are classified by purpose (old age, sickness, etc.), delivered through cash or in kind, means-tested, government-controlled or private, basic or supplementary. Information is available on revenue and expenditure The concepts are closely linked to ESA/SNA

Tourism satellite accounts They provide information on the supply and use of goods and services for various types of tourism and their impoRtance for domestic employment, balance of payments, government finance and the household and business sectors