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This article explores the key features and consistency of business registers and national accounts, including exhaustiveness, population, transactions, and the impact of globalization. It also discusses the usefulness of the production/input-output view and the challenges of combining administrative data.
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Business Registersand National accounts Piet Verbiest
National accounts Supply and use tables Labour accounts Sector accounts
National accounts • Key features • Exhaustiveness • Population • Transactions(a.o. hidden economy)
National accounts • Key features • Consistency • Identities • Plausibility relations
National accounts Estimating GDP Basic identities of NA: 1. Y= P – IC 2. Y = C + I + E – M 3. Y = W + OS/MI 1.+ 2. => P+M = IC + C + I + E
National accounts supply and use P+M = IC + C + I + E
National accounts • Globalisation • Inconsistency • National • International
Globalisation and national consistency Transactions in goods and services Raw materials 50 Unit A Country A owner of inputs and outputs Sales 120 F e e 60 s processing Country B Unit B Balanced supply and use
Globalisation and national consistency Flows of goods and services Raw materials 50 Unit A Country A owner of inputs and outputs Sales 120 F e e 60 s 50 110 processing Country B Unit B Supply and use not balanced
Globalisation and national consistency Flows of goods and services Raw materials 50 Unit A Country A owner of inputs and outputs Sales 120 F e e 60 s 50 110 processing Imputed owner of inputs and outputs Country B Unit B Supply and use not balanced Balanced supply and use
Globalisation and international consistency Flows of goods and services Country A F e e 60 s 50 110 F e e 60 s Country B many of these problems caused by MNE’s => international coordination would help national accounts
National accounts Production / Input-output view Industry classification: Theory: homogeneous I/O-structure Practice: …….
National accounts Production / Input-output view Industry classification: Theory: homogeneous I/O-structure Practice: not (very) homogeneous Is the KAU still usefull for NA?
System of national accounts Revised More focus on change of owner ship * Closer link with “montairy economy” * Less priority for production view
Globalisation and the new SNA Raw materials 50 Unit A Country A owner of inputs and outputs Sales 120 F e e 60 s 50 110 processing Country B Unit B New SNA: * Do we still need the KAU? * International coordination of MNE-transactions
National accounts and adminstrative data • Reduction of response burden • Cut in resources of SN • => increasing use of administrative data • o.a. tax registers Problem: each register has its own units
“Adminstratieve” units VAT units E S E P R I N T E R G R O U P
“Adminstratieve” units Units for taxes on wages E S E P R I N T E R G R O U P
“Adminstratieve” units Units for corporate tax E S E P R I N T E R G R O U P
“Adminstratieve” units Consitent linking Turnover (VAT) Wages Costs (corp tax) Present Pint Trip Pure Peer Soup Giro Sour Er Reg Green How to combine the data?
“Adminstratieve” units VAT register P R S E N T E P U R E G I R O
“Adminstratieve” units Register on wages I N P T P E E R S R E G O U R
“Adminstratieve” units Corporate Tax register S O T U R I P P E R G R E E N The linking pin!
“Adminstratieve” units Enterprise group plus: - linking pin between register units - consistent combination of register data minus: - less homogeneous industries - appropriateness as unit of observation
Concluding remarks • Assessment of exhaustivness of the population • Less priority for kind-of-activity-units • Linking pin between registers and register data • Less use as grossing up framework • International business register for MNE’s as an instrument for reaching consistency in (inter)national accounts Business Registersand National accounts