1. DISTRIBUTIONAL INFORMATION ON HOUSEHOLD ECONOMIC RESOURCES: PROGRESS TO DATE Paul Schreyer OECD Deputy Director of Statistics Side Event at the 44 th Session of the UNSC New-York, February 25, 2013

2. Background – the Data Gap Initiative Recommendation 16: Distribution information “As the recommended improvements to data sources and categories are implemented, statistical experts to seek to compile distributional information alongside aggregate figures, wherever this is relevant. The IAG is encouraged to promote production and dissemination of these data in a frequent and timely manner. The OECD is encouraged to continue in its efforts to link national accounts data with distributional information.” 2

3. Outline of presentation 1. Background 2. Progress to date 3. Follow-up 3

4. 1. Background The importance of looking at household-level measures: Real household disposable income growth may show different trend compared to GDP 4 Source: OECD calculation Gross real household disposable income and real GDP - 1999Q1=100

5. 1. Background The importance of looking at income inequalities: Large differences between countries Longer-term trend towards greater inequality Early evidence: small changes in income inequality in the most recent year (2009-2011) since 2007 5 Source: OECD data base; Country scope: XXX Source: OECD Income Distribution Database, latest year available

6. 1. Background The importance of looking at wealth distribution : Analysing wealth distribution is essential for analysis of vulnerabilities in the household sector 6 Sources: CIR, EFF2008 (Spain), IBF 2008 (Italy), SCF 2007 (US) Sources: EFF 2002 (Spain), SCF 2001 (US), SHIW 2002 (Italy), BHPS 2000 (UK) Percentage of households holding debt Debt to income ratio of indebted households

7. 2. Progress to date Two Expert Groups in early 2011 OECD Expert Group on Micro statistics on Household Income, Consumption and Wealth (EG ICW) – Methodological work to improve the distributional information available from micro sources in the future, in particular on wealth – 17 NSOs, Luxembourg Wealth Study, UNECE, individual analysts, ECB, Eurostat OECD-Eurostat Expert Group to measure Disparities in a National Account framework (EG DNA) – Practical exercise – feasibility study on how to introduce distributional information from existing micro sources in the national accounts – 25 NSOs, Luxembourg Income Study, ECB, Eurostat 7

8. 2. Progress to date Nearing completion EG ICW: – OECD guidelines on the measurement of micro-statistics on household wealth (to be released by mid-2013) – Framework for statistics on the distribution of household income, consumption and wealth (to be released by mid-2013) EG DNA: – In depth comparison of various components of household income, consumption and wealth between micro and macro sources (OECD working paper to be released by mid-2013) – Experimental household accounts providing information on distribution of income, consumption and saving among types of households, consistent with SNA totals (OECD working paper to be released by mid-2013) 8

9. 3. Follow-up OECD EG ICW: – Creation of database on wealth distribution in OECD countries (2013-2014) – Experimental estimates of the joint distribution of income, consumption and wealth, based on data-matching techniques (mid-2014) OECD-Eurostat EG DNA: – Depends on country commitments (survey to be sent to them – Autum 2013) – Two possible ways forward (2014): i) experimental household accounts extended to wealth, for a given year; or ii) compilation of extended household accounts for income, consumption and savings for other years (i.e. time series information) 9

10. Thank you for your attention 10