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
The Danish National Accounts System
• is very detailed: e.g. General Government
Sector subsystem 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)
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
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
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
Organisation of Revision2014
Steering
Group
Reference
Group
Project
Coordinator
Coordination
Groups (Internal)
Foreign Trade
and BoP
National
Accounts
Coordination Groups
with Central Bank
Government
Finance
Financial
Accounts
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
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
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)
Overall planning - Phases
2010
2011
2012
2013
2014
Preparation
Data- and methods (phase1)
ESA2010 (phase2)
ESA-transmissionprogramme
Publication
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
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)
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
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
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
Estimated effect of ESA2010 on GDP and
GNI
Pct. in 2006
GDP
GNI
(1) Pension schemes
0,01
0,01
(2) Research and
1,80
development
(3) Military expenditure 0,05
1,77
(4) Other
0,34-0,42
0,36-0,43
(5) Total
2,20-2,27
2,18-2,26
0,05