Arthur Berger Regional Products and Income Accounts, Beijing, China, 15-19 March 2010 Canadas...
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Transcript of Arthur Berger Regional Products and Income Accounts, Beijing, China, 15-19 March 2010 Canadas...
Arthur Berger
Regional Products and Income Accounts, Beijing, China, 15-19 March 2010
Canada’s Provincial and Territorial Economic Accounts
23-04-10Statistics Canada • Statistique Canada2
Outline
1. Regional Economic Accounts: Canadian context
2. Regional Input Output Tables
3. Regional Income and Expenditure Accounts
4. Regional GDP by industry
04/10/23Statistics Canada • Statistique Canada3
Part 1: Canadian context
Principles for Canadian regional accounts: Integration of accounts – Input Output, Income &
Expenditure Accounts, GDP by industry Standardization – common survey frame, classification
systems, chart of accounts Coherence – establish control totals & adjust detail to
add up to total Use administrative data and survey data
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Part 1: Canadian context
Legislative Requirements: Value added tax collected by federal
government on behalf of provinces, allocated to those provinces based on regional economic accounts expenditure estimates
Federal transfer payments to provincial governments also based on regional accounts data
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Part 2: Regional Input Output Tables
Topics Timing Detail Benchmarking role Data sources Balancing Deflation
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Part 2: Regional Input Output Tables
Timing: Annual regional Input Output tables are published 34
months after the reference period For example, 2006 I/O tables were published in November
2009 National I/O tables are published concurrently with the
regional tables Most source data available 15 months after reference
period, but some as late as 24 months
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Part 2: Regional Input Output Tables
Detail: Regional I/O tables are broken down into 300
industries, 727 commodities, 170 final demand categories
This is the same detail found in the national I/O tables
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Part 2: Regional Input Output Tables
Imports & Exports Detail: 727 commodities 13 provinces and territories + rest of world Example: exports of bank and investment
commissions from Ontario province to Quebec province were $600M in 2006
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Part 2: Regional Input Output Tables
Benchmarking Role: Regional I/O tables provide C$ benchmark for regional
income and expenditure based GDP, and regional value added by industry
Regional I/O tables add-up to the national I/O tables National K$ I/O tables provide benchmark for national
real GDP by industry
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Part 2: Regional Input Output Tables
Data Sources: Industry estimates Final demand estimates
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Part 2: Regional Input Output Tables
Data Sources – Industry Estimates: Annual surveys, mostly establishment based, sampling
designed to produce accurate estimates by province Samples are usually divided into three strata:
• take all (large companies that operate in more than one industry and/or more than one province)
• take some (medium sized companies)• take none (smaller companies that operate in only one province
and only one industry) Income tax data is used for take none stratum
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Part 2: Regional Input Output Tables
Data Sources – Industry Estimates: Other sources
• Labour expenses by industry – taxation data• Construction – capital expenditure survey for output• Financial industries – administrative data + enterprise
survey data• Income tax data + occasional surveys
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Part 2: Regional Input Output Tables
Data Sources – Final Demand Estimates: Personal expenditures: retail trade survey + survey of household
spending + service industry surveys + administrative data Capital expenditures: capital expenditure survey Investment in inventories: industry surveys Government current expenditures: public accounts International imports and exports: customs data (data exchange
with USA) for merchandise, survey data for services Inter-provincial imports and exports: combination of survey data and
modeling
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Part 2: Regional Input Output Tables
Balancing: National & provincial/territorial supply/use data are
balanced in successive iterations National balancing adjustments serve as a guide for
provincial/territorial adjustments Implications at provincial/territorial level provide
feedback loop for re-adjusting national estimates (i.e. Petroleum extraction = 7% of national GDP, 31% of Alberta provincial GDP)
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Part 2: Regional Input Output Tables
Deflation: Regional I/O tables are in C$ only. National I/O tables are deflated to K$.
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Part 3: Regional Income and Expenditure Accounts
Topics Timing Benchmarking Detail Data Sources Deflation
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Part 3: Regional Income and Expenditure Accounts
Timing: Preliminary estimates published 4 months after reference
period (i.e. 2008 estimates published April 2009) Revised estimates for most recent 4 years published 7
months later (i.e. 2005-2008 revised estimates published November 2009)
Revisions incorporate most recent I/O tables + all other new information
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Part 3: Regional Income and Expenditure Accounts
Timing (continued): National IEA revised estimates for most recent 4
years published in May (i.e. 2005-2008 revised estimates published May 2009)
Plan to move to single annual release of regional IEA, concurrent with national IEA by May 2013
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Part 3: Regional Income and Expenditure AccountsBenchmarking: Regional IEA C$ benchmarked to regional I/O C$ (up to 2006 so
far) Regional IEA C$ benchmarked to national IEA C$ (2007 & 2008) Regional IEA K$ benchmarked to national IEA K$ (all years) National IEA C$ benchmarked to national I/O C$ National IEA K$ not benchmarked to national I/O K$ National and regional GDP in IEA very similar to national and
regional GDP by industry, but not identical
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Part 3: Regional Income and Expenditure Accounts
Detail - Aggregates: GDP at market prices income based (C$) and
expenditure based (C$ & K$) Net Domestic Product at basic prices(C$)
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Part 3: Regional Income and Expenditure Accounts
Detail - Income: Labour Income – 16 industrial sectors Corporate Profits – total economy; no industrial
detail
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Part 3: Regional Income and Expenditure Accounts
Detail – Expenditures: Personal Expenditures: about 60 categories of
goods and services Capital Expenditure:
• Residential structures, buildings, engineering structures, 10 categories of machinery & equipment
• All broken down by government and business
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Part 3: Regional Income and Expenditure Accounts
Detail – Expenditures (continued): Imports and Exports: 9 goods categories, 5
service categories
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Part 3: Regional Income and Expenditure Accounts
Detail – Sector Accounts: Sources and disposition of personal income
(includes persons, unincorporated businesses and non-profit institutions serving households)
Government sector tax revenue, investment income, transfer payments, subsidies
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Part 3: Regional Income and Expenditure Accounts
Data Sources: Corporate profits – quarterly survey of financial
statements, income tax data Labour income – monthly household survey of
labour force, monthly payroll survey, administrative data
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Part 3: Regional Income and Expenditure AccountsData Sources (continued): Personal expenditures - monthly retail trade survey,
annual survey of household spending, service industry surveys, administrative data
Capital expenditures - annual capital expenditure survey, monthly construction payroll data, monthly manufacturing survey (shipments of building materials and machinery and equipment) and international trade data ( machinery and equipment)
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Part 3: Regional Income and Expenditure AccountsData Sources (continued): International merchandise trade – monthly customs data
(provincial allocation is challenging) International services trade – quarterly and annual
surveys Inter-provincial trade – model based on input output
tables trade flows & aggregate production and demand data
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Part 3: Regional Income and Expenditure AccountsDeflation: Personal expenditures – consumer price index Engineering construction expenditures – labour and
material input prices Home & building construction expenditures – building
price index Machinery and equipment – machinery and equipment
price indexes
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Part 3: Regional Income and Expenditure AccountsDeflation: Government current expenditures – hourly wages of
government employees Exports – unit values, domestic producer price indexes
(exchange rate pass-through assumption) Imports - unit values, foreign producer price indexes
(exchange rate pass-through assumption)
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Part 4: Regional GDP by industry
Topics Timing Detail Data Sources Deflation
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Part 4: Regional GDP by industry
Timing: Same publication dates as the regional income
and expenditure accounts
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Part 4: Regional GDP by industry
Detail: Same level of industry detail as found in the
regional input-output tables
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Part 4: Regional GDP by industry
Data Sources: Monthly and annual industry surveys Monthly payroll survey Administrative data
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Part 4: Regional GDP by industry
Deflation:
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Reference Documents
Guide to the Income and Expenditure Accounts, Catalogue no. 13-017-X, www.statcan.gc.ca
Gross Domestic Product by Industry Sources and Methods with Industry Details, Catalogue no. 15-548-XIE, www.statcan.gc.ca
Chain Fisher Volume Index Methodology, Catalogue no. 13-604-MIE — No. 42, www.statcan.gc.ca