Transcript Distributional Information on Household Economic Resources: Progress to Date

DISTRIBUTIONAL INFORMATION ON
HOUSEHOLD ECONOMIC
RESOURCES:
PROGRESS TO DATE
Side Event at the 44th Session of the UNSC
New-York, February 25, 2013
Paul Schreyer
OECD Deputy Director of
Statistics
Background – the Data Gap Initiative
• Recommendation 16: Distribution information
“As the recommended improvements to data sources and
categories are implemented, statistical experts to seek to
compile distributional information alongside aggregate
figures, wherever this is relevant.
The IAG is encouraged to promote production and
dissemination of these data in a frequent and timely
manner.
The OECD is encouraged to continue in its efforts to link
national accounts data with distributional information.”
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Outline of presentation
1. Background
2. Progress to date
3. Follow-up
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1. Background
The importance of looking at household-level measures:
Gross real household disposable income and real GDP - 1999Q1=100
Source: OECD calculation
• Real household disposable income growth may show different
trend compared to GDP
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1. Background
The importance of looking at income inequalities:
Source: OECD data base; Country scope: XXX
Source: OECD Income Distribution Database, latest year available
• Large differences between countries
• Longer-term trend towards greater inequality
• Early evidence: small changes in income inequality in the most recent
year (2009-2011) since 2007
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1. Background
The importance of looking at wealth distribution:
Percentage of households holding debt
Debt to income ratio of indebted households
Sources: CIR, EFF2008 (Spain), IBF 2008 (Italy), SCF 2007 (US)
Sources: EFF 2002 (Spain), SCF 2001 (US), SHIW 2002 (Italy), BHPS 2000 (UK)
• Analysing wealth distribution is essential for analysis of
vulnerabilities in the household sector
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2. Progress to date
Two Expert Groups in early 2011
• OECD Expert Group on Micro statistics on Household
Income, Consumption and Wealth (EG ICW)
– Methodological work to improve the distributional information
available from micro sources in the future, in particular on wealth
– 17 NSOs, Luxembourg Wealth Study, UNECE, individual analysts,
ECB, Eurostat
• OECD-Eurostat Expert Group to measure Disparities in a
National Account framework (EG DNA)
– Practical exercise – feasibility study on how to introduce
distributional information from existing micro sources in the
national accounts
– 25 NSOs, Luxembourg Income Study, ECB, Eurostat
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2. Progress to date
Nearing completion
• EG ICW:
– OECD guidelines on the measurement of micro-statistics on
household wealth (to be released by mid-2013)
– Framework for statistics on the distribution of household
income, consumption and wealth (to be released by mid-2013)
• EG DNA:
– In depth comparison of various components of household
income, consumption and wealth between micro and macro
sources (OECD working paper to be released by mid-2013)
– Experimental household accounts providing information on
distribution of income, consumption and saving among types of
households, consistent with SNA totals (OECD working paper
to be released by mid-2013)
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3. Follow-up
• OECD EG ICW:
– Creation of database on wealth distribution in OECD countries
(2013-2014)
– Experimental estimates of the joint distribution of income,
consumption and wealth, based on data-matching techniques
(mid-2014)
• OECD-Eurostat EG DNA:
– Depends on country commitments (survey to be sent to them –
Autum 2013)
– Two possible ways forward (2014): i) experimental household
accounts extended to wealth, for a given year; or ii) compilation
of extended household accounts for income, consumption and
savings for other years (i.e. time series information)
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Thank you for your attention
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