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Consistency in Recommendations Across Manuals: Why Source of Income Matters

This article explores the importance of consistency in new recommendations within manuals such as BPM and GFS. It discusses the distinction between market and non-market government outputs, property income, non-life insurance, pensions, and annuities, emphasizing the significance of determining the general government boundary based on the non-market criterion.

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Consistency in Recommendations Across Manuals: Why Source of Income Matters

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  1. Consistency Anne Harrison Editor, SNA Update

  2. Consistent with what • Among new recommendations • Between new recommendations and unchanged text • Within unchanged text • With other manuals (BPM, GFS etc)

  3. Market, Non-market • Government output is provided to the population but is not sold; there is no market equivalent price • Subsistence agriculture is not provided to anyone else, is not sold but there is a market equivalent price • Different sort of non-market.

  4. Why does this matter? • Use of “non-market” as criterion for determining general government boundary • Identification of informal sector

  5. Property income • Non-life insurance - interest and dividends, exclude holding gains and losses • Pensions - return on liability • Does source of income matter?

  6. Annuities • Give capital sum to Financial Institution in return for a promise of an income for life? • What assets and liabilities should be shown for financial institution and beneficiary?

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