French quaterly national accounts : Input-Output Tables methodology and indicators Fabrice Lenglart
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French quaterly national accounts : Input-Output Tables methodology and indicators Fabrice Lenglart national account department November, 7th 2006 IO tables methodology and indicators Programme › Calculation of the GDP: the 3 approaches to VA › Calculation of the Intermediate Consumption › The IOT-SUT synthesis: an iterative process › Calibrating and fitting › Indicators used › Link with institutional sector accounts F. Lenglartt Input-Output tables November 7th , 2006 Globally speaking, « TES », is an integrated presentation of IO tables and SU tables RESOURCES BY PRODUCTS INTERMEDIATE CONSUMPTION TABLE BY PRODUCTS x INDUSTRIES FINAL USES BY PRODUCTS SUT PRODUCTION ACCOUNTS BY INDUSTRIES GENERATION OF INCOME ACCOUNTS… SECTOR ACCOUNTS F. Lenglartt Input-Output tables November 7th , 2006 « Industries » P r o d u c t s P - Resources = IC = VA F. Lenglartt + P - P - IC + IC = VA = VA Input-Output tables + final uses November 7th , 2006 Calculation of the GDP the 3 approaches to VA › GDP = Σ VA + Taxes on products (T) - Subsidies on products (S) › 3 approaches to VA… –output approach = “by industry" approach (Supply and Use table SUT and Input-Output table IOT) : VA = P1 – P2 –expenditure approach = “by product” approach (supply and use balances) from the use side –income approach : generation of income accounts by industries and sector accounts F. Lenglartt Input-Output tables November 7th , 2006 Calculation of the GDP from one approach to the two others › We start with the "by industry" approach GDP = Σ output – IC + Taxes on products (T) - Subsidies on products (S) › Then, using the SUT / IOT relationships between industries and products (supply and use balances) Output + T-S + M +T&TM = IU + FU and Σ IU = Σ IC › we obtain the two other approaches: –expenditure approach = “by product” approach (supply and use balances) all products but administration –income approach = generation of income accounts by branches and sector accounts administration industry F. Lenglartt Input-Output tables November 7th , 2006 Calculation of the GDP the two expenditure approaches › Among which we choose two –“By product” approach on the supply side for “goods” VA = Outputg – IUg + Tg-Sg Agriculture & fishery + all manufacturing goods + oil + transportation –“By product” approach on the use side for “services” VAs = FUs water & gas & electricity + construction + market services –income approach VAa + ICa administration industry F. Lenglartt Input-Output tables November 7th , 2006 Calculation of the GDP structure of the SUT and IOT › “Goods” on the supply side because the supply and use balances are balanced by the change in inventories (part of FU) › “Services” on the use side because the supply and use balances are balanced by the output › We don’t want the GDP to include discrepancies between supply and uses in the SUT. F. Lenglartt Input-Output tables November 7th , 2006 Calculation of the intermediate consumptions › IC are calculated in the QNA similarly to their annual equivalent › For the branch b and the product p: ICb(p) = b(p) Pb › (technical coefficients) are based on the forecasting of the present year, using the information from the past (level and trends), assuming that there is no sudden major change in the technology of production F. Lenglartt Input-Output tables November 7th , 2006 Before starting the IOT-SUT synthesis Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 FP3 FQ1 trade FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 First calculation of ICs Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 First partial balancing Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 Second calculation of ICs Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 Calculation of TMs = “MC” on IUs & First calculation of VAT on IUs Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 Second partial balancing Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 Third calculation of ICs Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 Last calculation of VAT on IUs and TMs Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 Balancing the SUT Final uses emplois finals Conso, stocks FBCF, Export Ch. Inventories Transport marg. RESSOURCES EMPLOIS Ressources Uses Taxes on Trade Marg. MT Imp Emplois Intermed. uses Prod surproducts produits Sub MC intermédiaires out Impôts d212 sur EF sur EI EA-EF FG2 EJ EH EM BUF, put TVAVAT ER ER sur FG1 EK EL FN4 FP2 onEF sur onEI d214 on on FQB FN1 FN2 FP3 FQ1 FU IU FU IU FN3 FP1 FQA Agric. Manuf EA-EF oil, transp FG1 EK FQB FG2 EJ EL FN1 WGE, FN1 FN2 services FN3 FP1 Transp., EH EM constr., FN4 FP2 trade FP3 FQ1 FQA ER ER BUF, F. Lenglartt Input-Output tables November 7th , 2006 Calibrating and fitting Available data: › Annual account series based on comprehensive sources – Ex :Household consumption of cars › Quarterly partial data: indicators – Vehicle registration › Under constraint the quarterly accounts add up to annual ones Solution=calibration/fitting F. Lenglartt Input-Output tables November 7th , 2006 Calibrating and fitting Calibrating › Estimation of an annual relationship between annual accounts and annualised indicator : A y α βI y ε y ›Use of the relationship on quarterly series α̂ Âq β̂Iq ε̂ q 4 F. Lenglartt Input-Output tables November 7th , 2006 Calibrating and fitting Fitting  y,q A y q ε y A y  y,q q where α̂ A y,q β̂I y,q ε̂ y,q 4 (ε y,q ) solves min (ε y ,q - ε y ,q -1 ) 2 uc ε y,q ε̂ y q F. Lenglartt Input-Output tables November 7th , 2006 Indicators and sources › Output –Volume indicators ‐ IPEA (INSEE) for agricultural products ‐ IPI (INSEE) for all industrial products (but FE3, FC4) ‐ Indexes from professional committees (oil, cars…) –Value indicators ‐ VAT turnover index (INSEE) –Price deflators ‐ PPI (IPPAP, IPVI INSEE) F. Lenglartt Input-Output tables November 7th , 2006 Indicators and sources › External trade –Value indicators ‐ Customs for goods ‐ Balance of Payments (CB) for services –Price deflators ‐ Unit Value Index (goods) ‐ Internal market prices (services) –CIF-FOB correction in order to measure FOB imports and thus FOB-FOB accounts F. Lenglartt Input-Output tables November 7th , 2006 Indicators and sources › Final Consumption –Volume indicators = goods ‐ Numerous specific indicators (levels 100 and 300 of the classification) for goods: food industry (meat, milk, bred, tobacco…), manufacturing goods (cars = vehicle registration records, furniture, books, clothing&shoes, medicines…), energetic products (Oil, gas, electricity), water supply… –Value indicators = services ‐ Specific indicators (transports, telecommunications, health sector = national health-insurance fund) ‐ VAT turnover index for other products (hotels & restaurants…) –Price deflators ‐ CPI (INSEE) F. Lenglartt Input-Output tables November 7th , 2006 Indicators and sources › GFCF –Volume indicators ‐ Specific products (airplanes = Airbus fine tracking, cars = vehicle registration records) ‐ Buildings (Buildings starts records, buildings modification index, housing stocks) ‐ Public works –Value indicators ‐ VAT turnover in wholesale of Manufacturing goods (machinery, electronics) –Price deflators ‐ Buildings: Building Cost Index, cost of public works F. Lenglartt Input-Output tables November 7th , 2006 Link with institutional sectors accounts › The value added and the intermediate consumption by industry come from the input/output table Value added by institutional sector Intermediate consumption by institutional sector Output by institutional sector F. Lenglartt Input-Output tables November 7th , 2006 Link with institutional sectors accounts Value added by institutional sector › Non market value added –computed by the factors’ costs for GG, HHs and NPISHs › Market value added by institutional sector –Indicator of market value added of FCs, GG, HHs and NIEs = sum of VA of specific industries weighted by fixed coefficients › Balance of the total Value added compiled in the IOT on the total VA of NFCs F. Lenglartt Input-Output tables November 7th , 2006 Link with institutional sectors accounts Output by institutional sector › Intermediate consumptions by industry also come from the Input/Output table Intermediate consumption by sector › Balancing on output F. Lenglartt Input-Output tables November 7th , 2006 French quaterly national accounts : Input-Output Tables methodology and indicators Fabrice Lenglart national account department November, 7th 2006
