1. 4 November 2009CMEPSP - Jean-Etienne Chapron1 OECD Working Party On National Accounts Paris, 4 – 6 November 2009 Commission on the Measurement Of Economic Performance And Social Progress Main Recommendations

2. 4 November 2009CMEPSP - Jean-Etienne Chapron2 One year ago, at the same place … Nowadays, the Commission has completed its task: the report has been published on 14 September Three parts: Classical GDP-related issues Quality of life Sustainable development and environment

3. Classical GDP-related issues (1) Household perspective: From Product to Income, namely household net adjusted disposable income and actual final consumption Consider income and consumption jointly with wealth Indicators of income distribution : median income, quintiles 4 November 2009CMEPSP - Jean-Etienne Chapron3

4. Classical GDP-related issues (2) Broaden income measures to non-market activities Own-account production of services Take into account the amount of leisure that people enjoy 4 November 2009CMEPSP - Jean-Etienne Chapron4

5. Quality of life (1) From macro to micro measurement Well-being is multi-dimensional Material living standards Health Education Personal activities including work Political voice and governance Social connections and relationships Environment Insecurity, economic as well as physical 4 November 2009CMEPSP - Jean-Etienne Chapron5

6. Quality of life (2) Objective and subjective dimensions are both important Comprehensive assessment of inequalities Aggregate across quality-of-life dimensions Measure of subjective well-being: life evaluation, hedonic experiences and priorities 4 November 2009 CMEPSP - Jean-Etienne Chapron6

7. Sustainable development and environment (1) Sustainability : a central concern Can we at least maintain the current level of well-being for future generations ? Simultaneous preservation or increase in several assets Natural resources Human, social, and material capital 4 November 2009 CMEPSP - Jean-Etienne Chapron7

8. Sustainable development and environment (2) Is a global monetary index possible ? Underlying assumption : susbtituability Imputations and modelling are required for many components of natural capital: big informational difficulties A more modest approach 4 November 2009 CMEPSP - Jean-Etienne Chapron8

9. Sustainable development and environment (3) Focusing monetary aggregation on Physical capital Human capital Certain natural resources Physical indicators for environmental pressures Help of the scientific community Identification of irreversible and/or discontinuous alterations to the environment 4 November 2009 CMEPSP - Jean-Etienne Chapron9

10. What is next ? Not a concluding but a starting point Discussions at the national and international level A global debate around the issues and recommendations of the report Final report on internet: http://www.stiglitz-sen-fitoussi.fr/en/index.htm 4 November 2009 CMEPSP - Jean-Etienne Chapron10