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OECD Working Party On National Accounts Paris, 14 – 16 October 2008

Learn about the OECD Working Party on National Accounts' efforts to redefine indicators of wellbeing beyond GDP. Delve into topics such as sustainable development, quality of life, and environmental impact, as discussed by the Stiglitz Commission.

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OECD Working Party On National Accounts Paris, 14 – 16 October 2008

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  1. OECD Working PartyOn National AccountsParis, 14 – 16 October 2008 Commission on the Measurement Of Economic Performance And Social Progress (CMEPSP) An Update J.-E. Chapron - Insee

  2. The “Stiglitz Commission” • Commissioned by President Sarkozy • Chair: Joseph E. Stiglitz • Chair Adviser: Amartya Sen • Coordinator: Jean-Paul Fitoussi • + 24 high level experts • Secretariat: 8 rapporteurs from Insee, OECD, the French Economic Observatory (Observatoire Français des Conjonctures Économiques - OFCE) J.-E. Chapron - Insee

  3. General aspects of work • Not confined to France, nor to developed countries • Transparency, contact with civil society • Cooperation with OECD, Eurostat, UN Statistics Division, and national statistical offices • Concrete “exercises” to ascertain feasibility, and to provide an estimate of the empirical significance (France, USA, others?) J.-E. Chapron - Insee

  4. Main issues • What are the limits of GDP as an indicator of economic performance and social progress? • What additional information is needed? • What is the most appropriate presentation of this information? • Is it feasible now? Tomorrow? Later? J.-E. Chapron - Insee

  5. Three main directions of study • Classical GDP issues: Making best use of the current conceptual framework plus investigating possible extensions • Sustainable development and environment • Quality of life: Measurement of social progress taking into account broader perspectives on wellbeing  Three permanent working groups J.-E. Chapron - Insee

  6. Classical GDP issues (1) • From GDP to adjusted net real disposable income per consumption unit • Median versus mean income per consumption unit • Volume and prices for health, education and other non-market services • Unpaid homework J.-E. Chapron - Insee

  7. Classical GDP issues (2) • Capital gains/losses and income • Assessment of security, public versus private insurance schemes • “Defensive expenditures” • What about leisure? • More about inequalities ? J.-E. Chapron - Insee

  8. Sustainable development and environment (1) • Two aspects: • Impact of environment on current well-being • Sustainability of our management of nature and exhaustible resources: impact on future well-being • Inter-related but treated separately J.-E. Chapron - Insee

  9. Sustainable development and environment (2) • How does environment (e.g. air and water quality) contribute to current wellbeing (directly/indirectly)? • Impact of market failures on monetary measures of sustainability • Exploration of alternative metrics for valuing environmental changes J.-E. Chapron - Insee

  10. Sustainable development and environment (3) • Resource depletion and environmental degradation in “green” GDP or Net National Income • Net Adjusted Savings: conceptual and measurement issues – Use of special metrics • The international dimension J.-E. Chapron - Insee

  11. Quality of life (1) • Distinction between ends and means to a good life, i.e., aspects (good in themselves) and determinants (means of obtaining other elements that have intrinsic value) of quality of life J.-E. Chapron - Insee

  12. Quality of life (2) Aspects of quality of life • Hedonic experiences • Evaluative judgements • Capabilities J.-E. Chapron - Insee

  13. Quality of life (3) Determinants of quality of life • Personal activities • Personal safety • Social environment • Institutional environment • Natural environment J.-E. Chapron - Insee

  14. Quality of life (4) Crosscutting issues • Measuring inequality in quality of life • How to combine information across domains of quality of life? J.-E. Chapron - Insee

  15. Schedule of work • April 2008: 1st plenary meeting (Paris) • 25 July 2008: Issues paper • 6–8 November 2008: 2nd plenary (New York), draft interim report • 26-27 January 2009: 3rd plenary (Paris), revised interim report, planning of final report • End-April 2009: 4th plenary, final report J.-E. Chapron - Insee

  16. For further information … Commission’s website: http://www.stiglitz-sen-fitoussi.fr/en/index.htm J.-E. Chapron - Insee

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