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OECD Working Party On National Accounts Paris, 4 – 6 November 2009

OECD Working Party On National Accounts Paris, 4 – 6 November 2009. Commission on the Measurement Of Economic Performance And Social Progress Main Recommendations. One year ago, at the same place ….

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OECD Working Party On National Accounts Paris, 4 – 6 November 2009

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  1. OECD Working Party On National AccountsParis, 4 – 6 November 2009 Commission on the Measurement Of Economic Performance And Social Progress Main Recommendations CMEPSP - Jean-Etienne Chapron

  2. One year ago, at the same place … • Nowadays, the Commission has completed its task: the report has been published on 14 September • Three parts: • Classical GDP-related issues • Quality of life • Sustainable development and environment CMEPSP - Jean-Etienne Chapron

  3. Classical GDP-related issues (1) Household perspective: • From Product to Income, namely household net adjusted disposable income and actual final consumption • Consider income and consumption jointly with wealth • Indicators of income distribution : median income, quintiles CMEPSP - Jean-Etienne Chapron

  4. Classical GDP-related issues (2) Broaden income measures to non-market activities • Own-account production of services • Take into account the amount of leisure that people enjoy CMEPSP - Jean-Etienne Chapron

  5. Quality of life (1) • From macro to micro measurement • Well-being is multi-dimensional • Material living standards • Health • Education • Personal activities including work • Political voice and governance • Social connections and relationships • Environment • Insecurity, economic as well as physical CMEPSP - Jean-Etienne Chapron

  6. Quality of life (2) • Objective and subjective dimensions are both important • Comprehensive assessment of inequalities • Aggregate across quality-of-life dimensions • Measure of subjective well-being: life evaluation, hedonic experiences and priorities CMEPSP - Jean-Etienne Chapron

  7. Sustainable development and environment (1) • Sustainability : a central concern • Can we at least maintain the current level of well-being for future generations ? • Simultaneous preservation or increase in several assets • Natural resources • Human, social, and material capital 4 November 2009 CMEPSP - Jean-Etienne Chapron 7

  8. Sustainable development and environment (2) • Is a global monetary index possible ? • Underlying assumption : susbtituability • Imputations and modelling are required for many components of natural capital: big informational difficulties • A more modest approach 4 November 2009 CMEPSP - Jean-Etienne Chapron 8

  9. Sustainable development and environment (3) • Focusing monetary aggregation on • Physical capital • Human capital • Certain natural resources • Physical indicators for environmental pressures • Help of the scientific community • Identification of irreversible and/or discontinuous alterations to the environment 4 November 2009 CMEPSP - Jean-Etienne Chapron 9

  10. What is next ? • Not a concluding but a starting point • Discussions at the national and international level • A global debate around the issues and recommendations of the report • Final report on internet: http://www.stiglitz-sen-fitoussi.fr/en/index.htm 4 November 2009 CMEPSP - Jean-Etienne Chapron 10

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