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The Art And Craft Of Compiling National Accounts Statistics And Their Implications For Reliability

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  • Frits Bos

Abstract

This paper provides a systematic overview of the compilation and reliability of national accounts statistics. It illustrates the various issues with a wide range of examples and stories from national accounts compilation practice. National accounts statistics are estimates of a universal accounting model (SNA93). The operational versions of the model decide what is actually estimated. They are estimated by expanding and transforming the available data with accounting identities, assumptions, and plausibility checks. The estimates reflect personal knowledge and skills, resources, and policy. For a specific type of use, the universal and operational national accounting concepts are usually not perfect. The quantitative importance of such conceptual “measurement errors” is often overlooked but can be substantial. For assessing the reliability of national accounts statistics, sampling theory is not very important. The major methods are consistency checks, sensitivity analysis, and analysis using a description of the data sources, operational model, and compilation methods.

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  • Frits Bos, 2009. "The Art And Craft Of Compiling National Accounts Statistics And Their Implications For Reliability," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(4), pages 930-958, December.
    • Handle: RePEc:bla:revinw:v:55:y:2009:i:4:p:930-958
    DOI: 10.1111/j.1475-4991.2009.00353.x
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    References listed on IDEAS

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    1. Frits Bos, 1992. "Reasons For Preferring Net To Gross Figures Of Income And Product (And Vice Versa)," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 38(3), pages 267-279, September.
    2. repec:bla:revinw:v:46:y:2000:i:3:p:329-50 is not listed on IDEAS
    3. repec:bla:revinw:v:38:y:1992:i:3:p:267-79 is not listed on IDEAS
    4. Richard Stone & D. G. Champernowne & J. E. Meade, 1942. "The Precision of National Income Estimates," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 9(2), pages 111-125.
    5. Frits Bos, 2008. "The Dutch fiscal framework: History, current practice and the role of the central planning bureau," OECD Journal on Budgeting, OECD Publishing, vol. 8(1), pages 1-42.
    6. van Bergeijk, Peter A G, 1995. "The Accuracy of International Economic Observations," Bulletin of Economic Research, Wiley Blackwell, vol. 47(1), pages 1-20, January.
    7. repec:bla:revinw:v:21:y:1975:i:3:p:323-44 is not listed on IDEAS
    8. 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.
    9. George J. Novak, 1975. "Reliability Criteria For National Accounts," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 21(3), pages 323-344, September.
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    Cited by:

    1. Van Tongeren, J.W. & Magnus, J.R., 2011. "Bayesian Integration of Large Scale SNA Data Frameworks with an Application to Guatemala," Other publications TiSEM 7a0ed98e-134b-4fa4-a97c-4, Tilburg University, School of Economics and Management.
    2. Cristian Cenar & Iuliana Cenar, 2021. "Microaccounting and Macroaccounting: Characteristics and Interferences," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 710-718, August.
    3. Groslambert, Bertrand & Chiappini, Raphaël & Bruno, Olivier, 2016. "Desperately seeking cash: Evidence from bank output measurement," Economic Modelling, Elsevier, vol. 59(C), pages 495-507.
    4. Van Tongeren, J.W. & Magnus, J.R., 2011. "Bayesian Integration of Large Scale SNA Data Frameworks with an Application to Guatemala," Discussion Paper 2011-022, Tilburg University, Center for Economic Research.
    5. Van Tongeren, J.W., 2011. "From national accounting to the design, compilation, and use of bayesian policy and analysis frameworks," Other publications TiSEM e2d6399b-fdf5-4147-b414-3, Tilburg University, School of Economics and Management.

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