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

OECD Working Party On National Accounts Paris, 14 – 16 October 2008. Commission on the Measurement Of Economic Performance And Social Progress (CMEPSP) An Update. The “Stiglitz Commission”. Commissioned by President Sarkozy Chair: Joseph E. Stiglitz Chair Adviser: Amartya Sen

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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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