28 Mar 2013
Human Capital, Tangible Wealth, and the Intangible Capital Residual
Since income is the return on wealth, the total wealth of any given country should be on the order of 20 times its GDP. Instead the average observed ratio from the balance sheet accounts of the System of National Accounts (SNA) is a factor of 2.6 to 6.6, depending on whether natural resource...
10 Apr 2013
More than the Sum of their Parts: Valuing Environmental Quality by Combining Life Satisfaction Surveys and GIS Data
While environmental economics studies using stated life satisfaction data have been gaining attention, much of this body of work remains exploratory. In this study we contribute to this emerging body of research by combining OECD survey data from four European countries on life satisfaction and...
31 Dec 2012
OECD Composite Leading Indicators for G7 Countries
We estimate the business-cycles of G7 countries, as defined by an ideal 2-10 year bandpass filter applied to country-specific GDP target series (GDP-BP). Since this target series cannot be observed in real-time, due to the symmetry of the bandpass filter, we analyze and compare the leading...
23 Nov 2012
Approaches to Measuring the Stock of Human Capital
The paper reviews some national initiatives related to measuring the stock of human capital, indentifies some challenges to be addressed to improve the quality of existing monetary measures of human capital, and suggests developing experimental satellite accounts for education to better...
21 May 2012
What Makes for a Better Life?
This paper uses data from the Gallup World Poll to explore the determinants of subjective well-being. The paper builds on the existing literature on the determinants of subjective well-being in three areas. First, the paper systematically examines the drivers of measures of affect as well as...
13 Apr 2012
Measuring the Evolution of Korea's Material Living Standards 1980-2010
Based on a production-theoretic framework, we measure the effects of real output prices, primary inputs, multi-factor productivity growth, and depreciation on Korea’s real net income growth over the past 30 years. The empirical analysis is based on a new dataset for Korea with detailed...
31 Jan 2012
Exploring Determinants of Subjective Wellbeing in OECD Countries
The paper explores issues with assessing wellbeing in OECD countries based on self-reported life satisfaction surveys in a pooled regression over time and countries, at the country level and the OECD average. The results, which are in line with previous studies of subjective wellbeing, show...
22 Nov 2011
New Understanding and Insights from Time-Series Data Based on Two Generic Measures
Time distance is an innovative approach for looking at time-series data. Expressed in time units, the
approach is easy to understand and provides a useful complement to existing methods. The time distance
approach compares time series in the horizontal dimension, i.e. for a given level of the...
21 Nov 2011
Linking Policies to Well-Being Outcomes Through Micro-Simulation
A major challenge in the measurement of well-being and progress is to link indicators of high-level
societal outcomes with specific policy interventions. This is important not only for better informing the
public, but also to provide the means for policy makers and advisors to assess the...
14 Oct 2011
Incorporating Estimates of Household Production of Non-Market Services into International Comparisons of Material Well-Being
This paper reports on work undertaken within the Statistics Directorate to measure the value of household production of non-market services, in order to better compare material well-being across countries. The work is being conducted under the aegis of the National Accounts Working Party and as...
10 Oct 2011
Measuring the Stock of Human Capital for Comparative Analysis
This paper summarizes the outcomes of the first phase of the OECD human capital project. In so doing, it shows the feasibility of applying the lifetime income approach to measuring human capital for comparative analysis, both across countries and over time. It also highlights the feasibility of...
10 Nov 2011
Measuring the Joint Distribution of Household's Income, Consumption and Wealth Using Nested Atkinson Measures
Following recommendations from the Stiglitz-Sen-Fitoussi Commission (2009), this paper proposes the use of a new methodology to measure the joint distribution of households. income, consumption and wealth. Based on a multidimensional extension of the Atkinson generalized mean framework, the...
27 May 2011
Cycle Extraction: A Comparison of the Phase-Average Trend Method, the Hodrick-Prescott and Christiano-Fitzgerald Filters
This paper reports on revision properties of different de-trending and smoothing methods (cycle estimation methods), including PAT with MCD smoothing, a double Hodrick-Prescott (HP) filter and the Christiano-Fitzgerald (CF) filter. The different cycle estimation methods are rated on their...
13 Oct 2011
Working Party on Financial Statistics: Proceedings of the Workshop on Securitisation
This Statistics Working Paper includes the documents that were presented during the various sessions of the Workshop on Securitisation, held in Madrid on 27-28 May 2010, as well as summaries at the beginning of each section. The Workshop brought together regular members of the Working Party on...
23 Feb 2011
A Multiplicative Masking Method for Preserving the Skewness of the Original Micro-records
Masking methods for the safe dissemination of microdata consist of distorting the original data while
preserving a pre-defined set of statistical properties in the microdata. For continuous variables,
available methodologies rely essentially on matrix masking and in particular on adding noise...
04 Feb 2011
Hedonic Price Indexes for Housing
Every house is different. It is important that house price indexes take account of these quality differences. Hedonic methods which express house prices as a function of a vector of characteristics (such as number of bedrooms and bathrooms, land area and location) are particularly useful for...
17 Nov 2010
Developing Societal Progress Indicators
There is a broad recognition that the development of cross-cutting, high-quality, shared, and
accessible information about a society’s progress is crucial to ensure that decision-making is
simultaneously responsive and responsible at all levels. There is no single correct way to manage a...
12 July 2010
A Framework to Measure the Progress of Societies
Over the last three decades, a number of frameworks have been developed to promote and measure
well-being, quality of life, human development and sustainable development. Some frameworks use a
conceptual approach while others employ a consultative approach, and different initiatives to...
30 June 2010
Indicators of "Societal Progress"
This paper looks at different experiences in the development and use of societal progress indicator sets – at the European, national and sub-national level – with the aim of identifying useful lessons from these experiences. Five case studies are presented: the indicators used to support the EU...
09 July 2010
Comparing Price Levels of Hospital Services Across Countries
Health services account for a large and increasing share of production and expenditure in OECD
countries but there are also noticeable differences between countries in expenditure per capita. Whether
such differences are due to more services consumed in some countries than in others or whether...
28 Apr 2010
Towards Measuring the Volume Output of Education and Health Services
The measurement of volumes of health and education services constitutes a challenge for national
accountants and price statisticians. In the past, such services have typically been measured by the inputs
used to provide them but such an approach neglects any productivity changes in service...
25 Mar 2010
The OECD ORBIS Database
Firm-level micro-data have become increasingly important in OECD activities not only for
econometric analysis that captures heterogeneity across enterprises but also in order to conduct different
and more detailed types of data aggregation (e.g. by geographical unit, firm size, industry). This...
23 Oct 2009
How Good is Trust?
This paper investigates the notion and role of trust in modern societies as a first step towards the construction of indicators that could better inform our understanding of societal progress. Trust is commonly viewed as a proxy indicator of social capital, and a high level of trust is...
26 Feb 2009
The Final Financial Investment of French Households
This study wants to spot and analyse the "final financial instruments" in which French
households’ financial savings are invested by making transparent their intermediated investments with
mutual funds and life insurance corporations. It attempts to identify where French households’ savings...
25 Feb 2009
Do Financial Systems Converge?
Many authors underlined the convergence of financial structures towards a model which combines
elements of the Anglo Saxon one, where markets prevail, with characteristics of the continental European
systems, where intermediaries are predominant. The goal of this paper is to study financial...
21 Mar 2008
The OECD System of Unit Labour Cost and Related Indicators
This paper outlines in detail the methodology and statistical processes used for compiling the outputs
of the OECD System of Unit Labour Cost and Related Indicators. This new System has been developed by
the OECD in response to concerns from the international community of economic analysts on...
12 Feb 2008
Globalisation in Services
This paper provides new estimates of international trade in services for mode 3 (foreign affiliates'
sales in a host country) for four major OECD countries, thanks to the harmonisation of FATS statistics
with conventional international trade ones (trade recorded in the balances of payments -...
24 Jan 2008
A Framework for Addressing and Measuring Entrepreneurship
In recent years entrepreneurship has become a buzzword that?s entered the mainstream. Politicians
continuously cite its importance and the need to create more entrepreneurial societies, and newspapers and
television programmes frequently create themes around successful entrepreneurs. But, the...
24 Jan 2008
Defining Entrepreneurial Activity
This paper sets out definitions of the entrepreneur, entrepreneurship and entrepreneurial activity for the
purpose of supporting the development of related indicators. The paper recognises the long history in this
area and the contention and differences that have existed, and that continue to...
03 Apr 2007
International Measurement of the Economic and Social Importance of Culture
This report provides information on an OECD Project examining the feasibility of producing reliable international comparative measures of the culture sector. As part of the project, initial measures were produced for five countries and four cities. A draft version of this paper was circulated...
29 May 2007
Statistics and Politics in a "Knowledge Society".
Several studies have analysed the characteristics of the knowledge society, as well as its impact on the
production of "official" statistics. In this paper we will not enter into this debate, but we will try to
analyse the role of statistics in building a knowledge society and improving the...
11 May 2007
Current Period Performance of OECD Composite Leading Indicators (CLIs)
This paper presents a comprehensive analysis of the current period performance of the OECD
composite leading indicators (CLIs) for 21 OECD Member countries and three zone aggregates (OECD
area, Euro area and Major Seven countries) for which CLIs are available for a longer time period....
11 Dec 2006
Composite Leading Indicators and Growth Cycles in Major OECD Non-Member Economies and recently new OECD Members Countries
The OECD developed a System of Composite Leading Indicators (CLIs) for its Member Countries in
the early 1980?s based on the ?growth cycle? approach and up to 2006 the Organisation compiled
composite leading indicators for 23 of the 30 Member countries. Country coverage has now been expanded
14 Nov 2006
The International comparability of Business Start-up Rates Final Report
Growing political and academic interest in entrepreneurship and business demography, and particularly the
role and value of new businesses in national economies, is prompting various research projects on these
topics. One of the main issues faced by researchers and policy makers is the current...
24 Oct 2006
A Proposed Framework For business Demography Statistics
The creation of new businesses and the decline of unproductive ones are often regarded key to
business dynamism in OECD economies. Understanding business behaviour, creative destruction and
identifying successful and failing businesses, as well as fostering entrepreneurship and innovation,...
14 Sep 2006
Undertaking Revisions and Real-Time Data Analysis using the OECD Main Economic Indicators Original Release Data and Revisions Database
The first releases of official statistics are often revised in subsequent releases, sometimes
substantially. Such revisions can impact on policy decisions, as revisions to first published data may alter
the previous assessment of the state of the economy. This may occur through a changed...
25 Jan 2006
Composite Leading Indicators for Major OECD Non-Member Economies
The OECD developed a System of Composite Leading indicators for its Member countries in the early 1980's based on the 'growth cycle' approach. Today the OECD compiles composite leading indicators (CLIs) for 23 of its 30 Member countries and it is envisaged to expand country coverage to include...
22 Dec 2005
Improving Timeliness for Short-Term Economic Statistics
Effective business cycle analysis, and indeed the monitoring of a country’s economic performance from a policy perspective, requires access to timely high quality short-term economic statistics (STES). Consequently in recent years there has been a lot of pressure on national statistics...
17 Aug 2005
ICT and Economic Growth
Using new sectoral data on investment and capital services we carry out a growth accounting exercise on Spain 1985-2002. We compute the contribution to output and labour productivity growth of employment, non-ICT and ICT capital, labour qualification and Total Factor Productivity. Results are...
09 Aug 2005
Handbook on Constructing Composite Indicators
This Handbook aims to provide a guide for constructing and using composite indicators for policy makers, academics, the media and other interested parties. While there are several types of composite indicators, this Handbook is concerned with those which compare and rank country performance in...
03 Aug 2005
The Statistical Measurement of Services
Services are increasingly important in modern economies contributing about 68% of world economy value added in 2002 and, although at a much lower level, are increasingly traded internationally (see Table 1). These patterns of increasing importance of services are observed in the generality of...
19 Jan 2005
OECD — China Governance Project
The purpose of this working paper is to provide an overview of recent discussions on the quality of Chinese data, and to describe and evaluate the institutional organization and methods of data compilation in China. The first part outlines key criticisms of Chinese data and examines their...
02 Dec 2004
Measuring Atypical Jobs
Over the past years, non-standard, flexible employment contracts have gained in importance in many OECD countries. This has made it difficult for statisticians to apply standard classifications of working arrangements to measure and analyse labour market developments. This paper presents a new...
19 Dec 2003
OECD Capital Services Estimates
This document presents the concepts underlying capital services measures, describes estimation methods and produces a first set of results. It also raises a number of outstanding conceptual issues in relation to capital services measures ...
12 Dec 2003
Comparing Labour Productivity Growth in the OECD Area
This paper examines how measurement problems affect international comparisons of labour productivity. It suggests that these measurement problems do not significantly affect the assessment of aggregate productivity patterns in the OECD area. However, these problems do influence the more...
24 June 2003
Measurement of Output, Value Added, GDP in Canada and the United States
This report provides, in a summary fashion, similarities and differences in the production accounts of Canada and the United States. The discussion is limited to those issues which affect the level of output, value added and GDP, both at the total economy level and by industry or sector, all at...
18 Apr 2003
Statistical Developments and Strategies in the Context of E-Government
This working paper has been written as a contribution to the OECD e-government project launched in 2001, which explores how governments can best exploit information and communication technologies (ICT) to enhance good governance principles and achieve public policy goals. The paper highlights...
04 Mar 2003
Household Wealth in the National Accounts of Europe, the United States and Japan
This working paper has been presented and discussed at the October 2002 OECD National Accounts Experts Meeting. The objective of the paper is two fold: (1) present comparable results for household financial and non financial assets and liabilities for Europe, the USA and Japan, (2) analyse the...
04 Mar 2003
Report of the OECD Task Force on Software Measurement in the National Accounts
This statistical working paper is the exact copy of the report of the joint OECD/Eurostat task force that was presented at the October 2002 OECD National Accounts Expert Meeting. The report confirms that current estimates of software investment differ significantly between countries for pure...
18 Apr 2002
Overview of Sustainable Development Indicators used by National and International Agencies
This paper presents a general overview of recent work on sustainable development indicators in OECD countries. It provides an overview of on-going work for developing "agreed" indicators that measure progress across the three dimensions of sustainable development (economic, social and...