National accounts in the calculation of ppps
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National Accounts in the Calculation of PPPs ADB Manila, May 2006 Role of national accounts experts ICP 2005 is a joint project involving both price statisticians and national accountants. National accounts: Provide the expenditure weights

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Role of national accounts experts

  • ICP 2005 is a joint project involving both price statisticians and national accountants.

  • National accounts:

    • Provide the expenditure weights

    • Total and per capita expenditure aggregates converted using PPPs are the most important output of the programme


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1993 System of National Accounts

  • ICP 2005 will be based on the 1993 SNA, but some approximations are inevitable. For example:

    • Non-profit institutions not distinguished

    • No estimates for valuables, patented entities...

    • No work in progress for agriculture

    • FISIM not allocated to users

    • No estimates for illegal activities


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Key requirements (1)

  • GDP must cover:

  • crops and livestock for own consumption

  • informal / underground activities:

    • open markets and street traders;

    • food and drinks sold by itinerant vendors;

    • plumbers, builders, electricians;

    • taxis, vehicle repairs;

    • health and personal services…


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Key requirements (2)

  • All government expenditure:

    • defence, townships, heads of state...

  • Software and mineral exploration (as capital formation) if significant

  • Significant NPISHs

    • religious, international

  • Imputed rents of owner-occupiers

    • modern and traditional


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Measuring imputed rents

  • Use rents actually paid for similar kinds of dwellings, in similar locations and with similar facilities

  • User cost method, rents are valued at cost - consumption of fixed capital, return on capital, regular maintenance, and insurance

  • Owners estimate of rental values


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The Expenditure Classification

  • The Expenditure Classification for the ICP 2004 is based on four international classifications:

    • COICOP for household expenditure

    • COPNI for NPISH

    • COFOG for government

    • CPA/CPC for gross fixed capital formation




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Why do we need 155 Basic Headings?

  • Basic headings must cover a similar group of products

  • The price relatives between countries (price in one country divided by the price in another country) must be similar

  • Compromise between theory and practice


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Role of Basic Headings

  • Most detailed level for which weights are available

  • They are the starting point for participating countries to draw up regional lists of the specific goods and services for which they agree to collect prices.

  • The Basic Headings will be used as the framework for editing the reported prices

  • PPPs are calculated for the Basic Headings before aggregating them to higher levels for publication


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Data sources for household expenditures

  • Household budget/expenditure surveys

  • Retail trade statistics

  • Production statistics - agriculture and industry

  • Import and export statistics

  • VAT or sales tax statistics

  • Information on sales of tobacco and alcohol

  • Motor vehicle registrations

  • Sales by utility companies and state monopolies

  • FAO data base on food balances

  • Nutrition surveys

  • Supply and use tables


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