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Development of OECD Guidelines for Micro Statistics on Household Wealth. Bindi Kindermann A/g Director Living Conditions. Outline of presentation. Wealth and wellbeing Micro data availability About the OECD initiative Key outcomes Timelines and future directions. Wealth and wellbeing. - PowerPoint PPT Presentation
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Development of OECD Guidelines for Micro Statistics
on Household Wealth
Bindi KindermannA/g Director Living Conditions
Outline of presentation Wealth and wellbeing
Micro data availability
About the OECD initiative
Key outcomes
Timelines and future directions
Wealth and wellbeing
• Essential component of people’s consumption possibilities and material conditions.
• Currently, some important analytical needs for macro and micro level information are not satisfied
SVKNOR
POLMEX
ESTHUN
CZEGRC FIN SVN
ESP IRLKOR
PRTDNK
AUSOECD
SWEFRA
DEUAUT ITA
NLDCAN
JPN
GBRLU
X ISRBEL
CHEUSA
0
10 000
20 000
30 000
40 000
50 000
60 000
70 000
80 000
90 000
CAN: 60% of total wealth
JPN: 80% of total wealth
Household net financial wealth per capita2009, US dollars at 2000 PPPs
AUS: 30% of total wealth
Micro data availability• Available for 26 countries (at least)
• Luxembourg Wealth Study 12 countries: Australia, Canada, Cyprus, Finland,
Germany, Italy, Japan, Luxembourg, Norway, Sweden, UK, US
• Euro area Household Finance and Consumption Survey
17 countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovenia, Slovakia, Spain
Current limitationsIncreasing number of countries entering this measurement space …
× there are a range of definitional and design differences that impact comparability across datasets (e.g. over time, between countries, between micro & macro data)
× there are no agreed standards to underpin these developments
About the OECD initiative
• Develop guidelines for micro level household wealth statistics
• Establish an international framework for measurement and analysis of household income, consumption and wealth statistics at the micro level
Stiglitz-Sen-Fitoussi Report
Recommendation 3: Consider income and consumption jointly with wealth
Recommendation 4: Give more prominence to the distribution of income, consumption and wealth
Income and Wealth, Australia - 2009-10
Low income, low wealth Low wealth, but not low income
Low income, but not low wealth
All persons0
50
100
150
200
250
300
350
400
450
Mean equivalised household income (annual) Mean equivalised household wealth
$'000
Key outcomes Agreed concepts, definitions and
classifications contribute to more accurate, more complete and
more internationally comparable data Alignment, where possible to the SNA08
to facilitate integrated analysis Practical guidance on measurement,
quality assurance, analysis and dissemination
Timelines & future directions Final drafts circulated for consultation with OECD
Committee on Statistics member countries late 2012- early 2013, and then published in first half 2013
The OECD Expert Group will recommend:
i. the reports be ‘road tested’, and that, in due course, they be refreshed and adopted as international statistical standards
ii. better use of existing information to inform policy
Further information Marco Mira d’Ercole ([email protected] )
Bindi Kindermann ([email protected])
Nicolas Ruiz ([email protected])
