Transcript Development of OECD Guidelines for Micro Statistics on Household Wealth Bindi Kindermann A/g Director Living Conditions.

Development of OECD
Guidelines for Micro Statistics
on Household Wealth
Bindi Kindermann
A/g Director Living Conditions
Outline of presentation
 Wealth and wellbeing
 Micro data availability
 About the OECD initiative
 Key outcomes
 Timelines and future directions
Wealth and wellbeing
• Essential component of people’s
consumption possibilities and material
conditions.
• Currently, some important analytical
needs for macro and micro level
information are not satisfied
90 000
80 000
Household net financial wealth per capita
2009, US dollars at 2000 PPPs
JPN: 80% of
total wealth
70 000
CAN: 60% of
total wealth
60 000
50 000
40 000
30 000
20 000
10 000
0
AUS: 30% of
total wealth
Micro data availability
• Available for 26 countries (at least)
• Luxembourg Wealth Study

12 countries: Australia, Canada, Cyprus, Finland,
Germany, Italy, Japan, Luxembourg, Norway, Sweden, UK,
US
• Euro area Household Finance and
Consumption Survey

17 countries: Austria, Belgium, Cyprus, Estonia, Finland,
France, Germany, Greece, Ireland, Italy, Luxembourg,
Malta, Netherlands, Portugal, Slovenia, Slovakia, Spain
Current limitations
Increasing number of countries entering this
measurement space …
×
there are a range of definitional and design differences
that impact comparability across datasets (e.g. over
time, between countries, between micro & macro data)
×
there are no agreed standards to underpin these
developments
About the OECD initiative
• Develop guidelines for micro level
household wealth statistics
• Establish an international framework for
measurement and analysis of household
income, consumption and wealth
statistics at the micro level
Stiglitz-Sen-Fitoussi Report
 Recommendation 3: Consider income and
consumption jointly with wealth
 Recommendation 4: Give more prominence to
the distribution of income, consumption and
wealth
Income and Wealth, Australia - 2009-10
$'000
450
400
350
300
250
200
150
100
50
0
Low income, low wealth
Low wealth, but not low
income
Mean equivalised household income (annual)
Low income, but not low
wealth
All persons
Mean equivalised household wealth
Key outcomes
 Agreed concepts, definitions and
classifications
 contribute to more accurate, more complete and
more internationally comparable data
 Alignment, where possible to the SNA08
 to facilitate integrated analysis
 Practical guidance on measurement,
quality assurance, analysis and
dissemination
Timelines & future directions
 Final drafts circulated for consultation with OECD
Committee on Statistics member countries late 2012early 2013, and then published in first half 2013
 The OECD Expert Group will recommend:
i.
the reports be ‘road tested’, and that, in due course,
they be refreshed and adopted as international
statistical standards
ii. better use of existing information to inform policy
Further information
 Marco Mira d’Ercole ([email protected] )
 Bindi Kindermann ([email protected])
 Nicolas Ruiz ([email protected])