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French quaterly national accounts : Input-Output Tables methodology and indicators

French quaterly national accounts : Input-Output Tables methodology and indicators. IO tables methodology and indicators Programme. Calculation of the GDP: the 3 approaches to VA Calculation of the Intermediate Consumption The IOT-SUT synthesis: an iterative process Calibrating and fitting

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French quaterly national accounts : Input-Output Tables methodology and indicators

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  1. French quaterly national accounts : Input-Output Tables methodology and indicators

  2. IO tables methodology and indicatorsProgramme • Calculation of the GDP: the 3 approaches to VA • Calculation of the Intermediate Consumption • The IOT-SUT synthesis: an iterative process • Calibrating and fitting • Indicators used • Link with institutional sector accounts

  3. Globally speaking, « TES », is an integrated presentation of IO tables and SU tables RESOURCESBYPRODUCTS INTERMEDIATE CONSUMPTIONTABLE BYPRODUCTS x INDUSTRIES FINAL USESBYPRODUCTS SUT PRODUCTION ACCOUNTSBYINDUSTRIES GENERATION OF INCOME ACCOUNTS… SECTOR ACCOUNTS

  4. « Industries » Products P- P- P- Resources = IC + IC + IC + final uses = VA = VA = VA

  5. Calculation of the GDPthe 3 approaches to VA • GDP = Σ VA + Taxes on products (T) - Subsidies on products (S) • 3 approaches to VA… • output approach = “by industry" approach (Supply and Use table SUT and Input-Output table IOT) : VA = P1 – P2 • expenditure approach = “by product” approach (supply and use balances) from the use side • income approach : generation of income accounts by industries and sector accounts

  6. Calculation of the GDPfrom one approach to the two others • We start with the "by industry" approach GDP = Σ output – IC + Taxes on products (T) - Subsidies on products (S) • Then, using the SUT / IOT relationships between industries and products (supply and use balances) Output + T-S + M +T&TM = IU + FU and Σ IU = Σ IC • we obtain the two other approaches: • expenditure approach = “by product” approach (supply and use balances)  all products but administration • income approach = generation of income accounts by branches and sector accounts  administration industry

  7. Calculation of the GDPthe two expenditure approaches • Among which we choose two • “By product” approach on the supply side for “goods”VA = Outputg – IUg + Tg-Sg Agriculture & fishery + all manufacturing goods + oil + transportation • “By product” approach on the use side for “services”VAs = FUs water & gas & electricity + construction + market services • income approachVAa + ICa administration industry

  8. Calculation of the GDPstructure of the SUT and IOT • “Goods” on the supply side because the supply and use balances are balanced by the change in inventories (part of FU) • “Services” on the use side because the supply and use balances are balanced by the output • We don’t want the GDP to include discrepancies between supply and uses in the SUT.

  9. Calculation of the intermediate consumptions • IC are calculated in the QNA similarly to their annual equivalent • For the branch b and the product p: ICb(p) = b(p) Pb •  (technical coefficients) are based on the forecasting of the present year, using the information from the past (level and trends), assuming that there is no sudden major change in the technology of production

  10. Before starting the IOT-SUT synthesis Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  11. First calculation of ICs Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  12. First partial balancing Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  13. Second calculation of ICs Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  14. Calculation of TMs = “MC” on IUs & First calculation of VAT on IUs Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  15. Second partial balancing Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  16. Third calculation of ICs Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  17. Last calculation of VAT on IUs and TMs Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  18. Balancing the SUT Ressources Uses Taxes on products Trade Marg. Intermed. uses Final uses output Transport marg. VAT ER Ch. Inventories on FU on IU on FU on IU Agric. Manuf oil, transp WGE, services Transp., constr., trade ER

  19. Calibrating and fitting Available data: • Annual account series based on comprehensive sources • Ex :Household consumption of cars • Quarterly partial data: indicators • Vehicle registration • Under constraint the quarterly accounts add up to annual ones • Solution=calibration/fitting

  20. Calibrating and fittingCalibrating • Estimation of an annual relationship between annual accounts and annualised indicator : • Use of the relationship on quarterly series

  21. Calibrating and fittingFitting   where solves

  22. Indicators and sources • Output • Volume indicators • IPEA (INSEE) for agricultural products • IPI (INSEE) for all industrial products (but FE3, FC4) • Indexes from professional committees (oil, cars…) • Value indicators • VAT turnover index (INSEE) • Price deflators • PPI (IPPAP, IPVI INSEE)

  23. Indicators and sources • External trade • Value indicators • Customs for goods • Balance of Payments (CB) for services • Price deflators • Unit Value Index (goods) • Internal market prices (services) • CIF-FOB correction in order to measure FOB imports and thus FOB-FOB accounts

  24. Indicators and sources • Final Consumption • Volume indicators = goods • Numerous specific indicators (levels 100 and 300 of the classification) for goods: food industry (meat, milk, bred, tobacco…), manufacturing goods (cars = vehicle registration records, furniture, books, clothing&shoes, medicines…), energetic products (Oil, gas, electricity), water supply… • Value indicators = services • Specific indicators (transports, telecommunications, health sector = national health-insurance fund) • VAT turnover index for other products (hotels & restaurants…) • Price deflators • CPI (INSEE)

  25. Indicators and sources • GFCF • Volume indicators • Specific products (airplanes = Airbus fine tracking, cars = vehicle registration records) • Buildings (Buildings starts records, buildings modification index, housing stocks) • Public works • Value indicators • VAT turnover in wholesale of Manufacturing goods (machinery, electronics) • Price deflators • Buildings: Building Cost Index, cost of public works

  26. Link with institutional sectors accounts • The value added and the intermediate consumption by industry come from the input/output table  Value added by institutional sector Intermediate consumption by institutional sector  Output by institutional sector

  27. Link with institutional sectors accounts Value added by institutional sector • Non market value added • computed by the factors’ costs for GG, HHs and NPISHs • Market value added by institutional sector • Indicator of market value added of FCs, GG, HHs and NIEs = sum of VA of specific industries weighted by fixed coefficients • Balance of the total Value added compiled in the IOT on the total VA of NFCs

  28. Link with institutional sectors accountsOutput by institutional sector • Intermediate consumptions by industry also come from the Input/Output table Intermediate consumption by sector • Balancing on output

  29. French quaterly national accounts : Input-Output Tables methodology and indicators

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