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Interest And Inflation Accounting

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  • Abdré Vanoli

Abstract

This paper analyses the treatments proposed by Chapter XIX (Annex B) of the 1993 SNA and the manual Inflation Accounting published by the OECD (Peter Hill) as alternatives to the traditional recording of nominal interest. Real interest and interest prime (annex B) are relevant for different purposes. Their amounts are not the same to the extent that actual compensation and full required compensation for inflation differ. The recording of negative real interest is not compatible with the exclusion of holding gains/losses from the SNA current accounts. The accounting treatments in Inflation Accounting (capital transfers, additional lending/borrowing, no nominal holding gains/losses) and Annex B (nominal holding gains/losses, no capital transfers, no new lending/borrowing) are contrasted.

Suggested Citation

  • Abdré Vanoli, 1999. "Interest And Inflation Accounting," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 45(3), pages 279-302, September.
    • Handle: RePEc:bla:revinw:v:45:y:1999:i:3:p:279-302
    DOI: 10.1111/j.1475-4991.1999.tb00341.x
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    Cited by:

    1. Mr. Luis M. Cubeddu & Signe Krogstrup & Gustavo Adler & Mr. Pau Rabanal & Mai Dao & Mrs. Swarnali A Hannan & Luciana Juvenal & Ms. Carolina Osorio-Buitron & Cyril Rebillard & Mr. Daniel Garcia-Macia &, 2019. "The External Balance Assessment Methodology: 2018 Update," IMF Working Papers 2019/065, International Monetary Fund.
    2. Ms. Lucie Laliberté, 2002. "Income from Bonds: Treatment in the System of National Accounts 1993," IMF Working Papers 2002/221, International Monetary Fund.
    3. Ms. Lucie Laliberté, 2004. "The Relationship Between Macroeconomic Statistics Guidelines and Accounting Standards," IMF Working Papers 2004/233, International Monetary Fund.
    4. Gustavo Adler & Mr. Daniel Garcia-Macia & Signe Krogstrup, 2019. "The Measurement of External Accounts," IMF Working Papers 2019/132, International Monetary Fund.
    5. Bos, Frits, 2009. "The National Accounts as a Tool for Analysis and Policy; History, Economic Theory and Data Compilation Issues," MPRA Paper 23582, University Library of Munich, Germany.

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