1 / 17

U.S. Benchmark Input-Output Accounts: Data and Methods

This article provides an overview of the U.S. Benchmark Input-Output Accounts, including the data sources and methods used to create them. It discusses the industries and commodities covered, as well as the adjustments made to Census data. The article also explains how intermediate purchases and value added are calculated, and how final uses are estimated. The process of reconciling and balancing the accounts is also described.

jsaenz
Download Presentation

U.S. Benchmark Input-Output Accounts: Data and Methods

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. U.S. Benchmark Input-Output Accounts: Data and methodsComments on “China’s Input-Output Survey and Its Tabulation Method” Brian C. Moyer 13th OECD-NBS Workshop on National Accounts Haikou, China November 30 – December 4, 2009

  2. U.S. I-O Accounts • Benchmark I-O Accounts • Based primarily on Economic Census data • Prepared every five years • 400 industries and commodities • Annual I-O Accounts • Rely heavily on benchmark I-O accounts • Based on annual survey data • 65 industries and commodities

  3. Census data supplemented with … • Annual survey data • Business expenses data • Data from the tax authority • Administrative data • Trade association data • Data from other government agencies

  4. Building the benchmark accounts • Output by industry and commodity • Intermediate purchases by industry • Value added by industry • Final uses; transportation and trade margins • Reconciliation and balancing

  5. Industry and commodity output • Industry output • Establishment based • Classified by NAICS • Includes all production activities—primary and secondary • Commodity output Prepared on a “where-ever-made” basis For example, car repair services include all receipts for car repair, regardless of whether the service is performed in the auto repair industry, by gasoline service stations, or by automotive dealers

  6. Output by sector • Agriculture: receipts • Utilities: receipts • Manufacturing: shipments • Trade: margin = sales - cost of goods • Services: receipts • Non-profits and auxiliaries: expenses

  7. Adjustments to Census data • Non-employers • Imputations • Tips • Misreporting/non-filers • Sales and excise taxes

  8. Coverage gaps Sectors not covered by the Economic Census • Agriculture • U.S. Postal Service • Rail transportation • Education • Religious organizations • Labor unions

  9. Make table

  10. Intermediate purchases • Input category controls • Census data on broad groups of commodities purchased by industries—materials consumed, legal services, advertising, repair services, rental, etc. • Variety of additional data used from other government agencies, trade associations, etc. • Detailed intermediate purchases by industry at the transactions level

  11. Value added by industry • Value added = Gross Output – Intermediate Inputs • Value added = Compensation + Gross Operating Surplus + Taxes on production

  12. Quality weighting • Reliability indicators assigned to components of intermediate inputs and gross operating surplus by industry—in most cases, coefficients of variation • I-O constraints imposed • Less reliable components of value added adjust more; more reliable components adjust less

  13. Quality-weighted results

  14. Final uses • Estimated in one of two ways • Directly from Economic Census data using “class of customer” data • Indirectly using commodity-flow method Consumer purchases = shipments + imports – exports – intermediate purchases – government purchases - change in inventories – investment in equipment + margin + transportation costs

  15. Distribution of margins • Transportation, wholesale trade, and retail trade output distributed to commodities based on a variety of data sources • Transportation: commodity flow survey • Wholesale trade: product-line sales by type of wholesaler • Retail trade: product-line sales by type of retailer • Margin distributed to detailed commodities based on levels of transactions

  16. Use table

  17. Reconciliation and balancing • Value added reconciled with Industry Accounts; final uses reconciled with National Accounts • Balancing • Based on RAS procedure—scaling of transactions • High-quality cells are “frozen” • Outputi = Inputsi + Value addedi • Total commodity output = Total industry output • Total final uses = total value added = GDP

More Related