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Revision2014 Danish Major Revision

Revision2014 Danish Major Revision. And implementation of ESA2010 By Annette Thomsen, Project Coordinator Presented by Søren Brodersen. Structure of presentation. Background Organisation ESA2010 – conceptual changes First estimates of effect of conceptual changes. Background.

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Revision2014 Danish Major Revision

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  1. Revision2014Danish Major Revision And implementation of ESA2010 By Annette Thomsen, Project Coordinator Presented by Søren Brodersen

  2. Structure of presentation • Background • Organisation • ESA2010 – conceptual changes • First estimates of effect of conceptual changes

  3. Background The Danish National Accounts System • is very detailed: e.g. General Government Sectorsubsystem has around 75.000 entries per year; production accounts based on detailed commodity flow system (2.300 commodities; 120 industries; 3 different price levels; constant and current prices)

  4. Background • Seeks full coordination between: • Quarterly and annual accounts • GFS statistics and national accounts • Financial and non financial accounts • Balance of payments and financial and non financial accounts • Employment statistics and production accounts • All national accounts time series are open for revision

  5. Organisation • Expected results • In September 2014, we can publish revised national accounts according to ESA2010/SNA2008 • Distinguish between data- and methodological and conceptual changes for at least one year (2008) • Submit national accounts data according to ESA2010/SNA2008 to Eurostat/OECD/UN and national users • Documentation of results • Improved and standardised calculation systems

  6. Organisation • The revision is organised as a project called ”Revision2014” • The project is carried out by the National Accounts Division, Government Finance Division and Foreign Trade Division • There has not been established a separate unit • Normal production and publication rhythm during the project

  7. Organisation of Revision2014

  8. Organisation • Composition and Role of Steering Group: • Director of Economic Statistics (Chairman), Project Coordinator, Head of Divisions of: National Accounts; Government Finance Statistics; Foreign Trade • Make decisions regarding areas of revision, resources, timetables and methods • Meet once every month

  9. Organisation • Composition and Role of Reference Group: • Steering Group plus Heads of Divisions of: Macro Economic Models; Price Statistics; Labour Marked Statistics; Agricultural Statistics; Business Statistics; Statistics produced by Central Bank • Members are not directly involved, but have an interest in following the project • Meet two times every year

  10. Organisation • Role of project coordinator • Organise collection of short written description of all proposed revision projects prior to decision by Steering Group • Coordinate sub-projects, that affect more than one division • Secretary for the Steering Group • Role of Coordination Groups • The practical side e.g. data-exchange, content of revisions, timetables • Chaired by project coordinator (except with CB)

  11. Overall planning - Phases

  12. Organisation – Phase 1: Data- and methodological revisions • 1.1 Identification, delimitation and decision of number of data- and methodological revisions • 1.2 Execution of revisions • 1.3 Quality assurance • 1.4. Evaluation of effect of data- and methodological revisions

  13. Data- and methodological revisions (examples) • ”Simple” calculation errors • Incorporation of new sources in level and not just growth rates (e.g. dwellings) • Improvement of estimation methods (e.g. foreign affiliates in insurance)

  14. Organisation – Phase 2: Conceptual changes (ESA2010/SNA2008) • 2.1 Identification and delimitation of conceptual changes • 2.2 Agreement of calculation methods • 2.3 Incorporation of conceptual changes in the national accounts • 2.4 Quality assurance • 2.5 Evaluation of results of total conceptual changes

  15. ESA2010 - Conceptual changes (examples) • New guidelines for: • Volume indicators for individual government consumption (e.g. health and education) • Military expenditures • Employers’ pension schemes • Goods for processing

  16. ESA2010 – conceptual changes and data transmission • Work still going on: • Research and development – to be capitalised? (in Denmark, yes) • FISIM – not yet an agreed method • Transmission of data to EU still discussed • Earlier and more detailed sector accounts • Non-profit institutions serving households (NPISH) to be transmitted as a separate sector and not with households

  17. Estimated effect of ESA2010 on GDP and GNI

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