From GDP to balanced net discretionary cashflow of family units a disintegration investigation

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- Background - Description of the task - First preparatory results - Next steps . Outline. Report by the Commission for the Measurement of Economic Performance and Societal Progress (Stiglitz, Sen, Fitoussi 2009) - GDP tolls ineffectively as a measure of financial prosperity - A family units point of view gives diverse and approach pertinent data notwithstanding GDP - From gross yield

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Slide 1

From GDP to balanced net discretionary cashflow of family units – a deterioration investigation Working Party on National Accounts 1-3 December 2010 Julien Dupont (STD)

Slide 2

Overview - Background - Description of the venture - First preparatory outcomes - Next strides

Slide 3

Background Report by the Commission for the Measurement of Economic Performance and Societal Progress (Stiglitz, Sen, Fitoussi 2009) - GDP charges inadequately as a measure of financial prosperity - A families point of view gives distinctive and arrangement applicable data notwithstanding GDP - From gross yield to net yield: the need to consider devaluation (for welfare purposes, measures of net item are highly liked to measures of gross yield regardless of the possibility that measures of devaluation are defective)

Slide 4

Comparison between development in GDP volume and development in HH genuine balanced net extra cash (2000-08)

Slide 5

Growth in GDP and in HH balanced net discretionary cashflow indicate diverse patterns In various nations, genuine balanced net dispensable family unit salary has developed uniquely in contrast to volume GDP This give conceivably deceptive signs Having a superior comprehension of the variables that cause distinction is fundamental The venture visualized by the OECD handles this issue through a decay examination of the contrasts between development in GDP and in family unit extra cash

Slide 6

Decomposition of the distinction amongst GDP and HH genuine balanced net discretionary cashflow

Slide 7

Comparison between balanced net extra cash and net extra cash in Finland

Slide 8

Decomposition of the distinction amongst GDP and HH genuine balanced net discretionary cashflow Factors driving the distinction Consumption of settled capital Distribution of essential livelihoods between segments Relative significance of HH as delivering division Current exchanges amongst HH and different areas Social moves in kind gave by government (wellbeing, training, lodging administrations) Relative value changes between shopper merchandise and general items

Slide 9

Comparison of value changes of private HH utilization and value changes in GDP, Finland

Slide 10

Comparison between value changes of private HH utilization and value changes in GDP, Norway

Slide 11

First preparatory outcomes, Finland Over the period 1998-2008 in Finland, development in GDP volume file breaks even with 3.29% and development in genuine balanced net extra cash rises to 3.23%. Social moves in kind and the relative significance of HH clarify the majority of the distinction with balances from the appropriation of essential livelihoods between parts, current exchanges amongst HH and different segments and utilization of settled capital.

Slide 12

First preparatory outcomes, Norway Over same period in Norway, development in GDP volume list measures up to 2.2% and development in genuine balanced net discretionary cashflow levels with 3.9%. Relative value changes clarify a large portion of the distinctions, with the relative significance of HH and the impacts of conveyance of essential salaries.

Slide 13

Next strides Work is on-going. The arrangement is to accumulate a first arrangement of appraisals before the finish of March 2011 and distribute comes about before the finish of 2011

Slide 14

Thank you for your consideration Comments are welcome Julien.Dupont@oecd.org

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