Transcript OECD FRAMEWORK FOR STATISTICS ON THE DISTRIBUTION OF HOUSEHOLD INCOME, CONSUMPTION AND WEALTH Why an integrated view of household resources at micro-level is important?  Economic well-being.

OECD FRAMEWORK
FOR STATISTICS ON
THE DISTRIBUTION OF
HOUSEHOLD INCOME,
CONSUMPTION AND
WEALTH
Why an integrated view of household
resources at micro-level is important?
 Economic well-being (people’s command over resources) is a multidimensional concept whose components (income, consumption and
wealth) are separate but interrelated
 Looking at different types of economic resources jointly (rather than
in isolation) allows better identifying people in distressed or
advantaged conditions, and better targeting of policies
 While income, consumption and wealth are correlated at the microlevel, the correlation is far from perfect (e.g. among Australians in
the bottom income decile, more than 40% had wealth above the
median, and more that 25% had consumption about the median)
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Why has this Framework been developed?
• Recommendations by various bodies
– Stiglitz-Sen-Fitoussi Commission (2009) recommended to look at income and
consumption (rather than production) when evaluating economic well-being, to
focus on households, and to look at the joint distribution of economic resources
– Similar recommendations by a range of other bodies, e.g. 2011 Canberra Group
Handbook, 17th International Conference Labour Statisticians, 2008 in-depth
review of Conference European Statisticians, 2009 report of G20 Finance
Minister and central banks
• SNA provides framework for compilation and analysis of macro statistics
for the whole economy, and are not always well-adapted to need of
statistician's interested in distribution
• Importance of consistency of existing statistical standards for each
component of economic resources at micro-level
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Who has developed this Framework?
• OECD Expert Group on Micro-Statistics on Household Income,
Consumption and Wealth (EGICW)
• Established under aegis of OECD Committee on Statistics (CSTAT)
in late 2010 with two-year mandate
• Chaired by Bob McColl (ABS, Australia), including representatives of
statistical offices from 17 countries and other experts in the field
(ECB, Federal Reserve Board, Eurostat, Luxembourg Income Study)
• Financial and in-kind support from Federal Statistical Office of
Switzerland, Australian Bureau of Statistics and Bank of Italy
• Report reflects comments provided by CSTAT members; it is
published on the responsibility of the OECD Secretary-General
• The Framework complements the second main deliverable of
EGICW, i.e. the companion report OECD Guidelines for MicroStatistics on Household Wealth
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What are its key objectives?
• Highlighting the importance of integrated analysis of economic resources at
the household level
• Outlining the main concepts used to measure economic well-being at the
micro-level, and how they relate to each other
• Suggesting ways of meeting the significant data requirements to undertake
such integrated analysis
• Encouraging countries to adapt the concepts and definitions of this
framework to improve the usefulness and comparability of their micro-data
• Identifying some of the conceptual and measurement issues pertaining to
household economic resources that are still to be addressed and make
suggestions for further international co-operation
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What is the structure of this report?
• Ch. 1
Introduction
• Ch. 2
Economic well-being
• Ch. 3
Integrated framework
• Ch. 4
Household income
• Ch. 5
Household consumption
• Ch. 6
Household wealth
• Ch. 7
Integrated statistics
• Ch. 8
Analytical framework
• Ch. 9
Next steps
• Annex A Detailed statistical framework and relationships between elements
• Annex B Comparisons of micro and macro frameworks
• Annex C An explanation of social assistance, pension schemes,
insurance schemes, and similar concepts
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What specific guidance is provided? (1)
• A conceptual framework for micro-statistics on household economic
resources, mapping the relationship between its different components (page 42)
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What specific guidance is provided? (2)
• Guidance on how to maximise coherence in the measurement of different
types of household resources
• Description of the relation and differences between the micro-framework in
this report and the corresponding elements of the macro SNA-framework
• Guidance to data producers on how to collect integrated micro-data, tools
for combining data from multiple sources (record-linking, statistical
matching), requirements for improving the quality of such estimates
• Description of some of the tools to undertake joint analysis of the different
types of economic resources at the micro-level (e.g. estimates of wealth
enlarged income, counts of people below a multidimensional thresholds,
multi-dimensional measures of central tendency and dispersions)
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For further information
See full report, freely available at:
www.oecd.org/statistics/ICW-Framework.htm
Contacts:
– Marco Mira d’Ercole (OECD Statistics Directorate, [email protected])
– Nicolas Ruiz (OECD Statistics Directorate, [email protected])
– Bindi Kindermann (Australian Bureau of Statistics,
[email protected])
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