OECD Working Party On National Accounts Paris 4

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OECD Working Party On National Accounts Paris, 4 – 6 November 2009 Commission on

OECD Working Party On National Accounts Paris, 4 – 6 November 2009 Commission on the Measurement Of Economic Performance And Social Progress Main Recommendations 4 November 2009 CMEPSP - Jean-Etienne Chapron 1

One year ago, at the same place … n n Nowadays, the Commission has

One year ago, at the same place … n n Nowadays, the Commission has completed its task: the report has been published on 14 September Three parts: n n n Classical GDP-related issues Quality of life Sustainable development and environment 4 November 2009 CMEPSP - Jean-Etienne Chapron 2

Classical GDP-related issues (1) n n n Household perspective: From Product to Income, namely

Classical GDP-related issues (1) n n n Household perspective: From Product to Income, namely household net adjusted disposable income and actual final consumption Consider income and consumption jointly with wealth Indicators of income distribution : median income, quintiles 4 November 2009 CMEPSP - Jean-Etienne Chapron 3

Classical GDP-related issues (2) Broaden income measures to non-market activities n n Own-account production

Classical GDP-related issues (2) Broaden income measures to non-market activities n n Own-account production of services Take into account the amount of leisure that people enjoy 4 November 2009 CMEPSP - Jean-Etienne Chapron 4

Quality of life (1) n n From macro to micro measurement Well-being is multi-dimensional

Quality of life (1) n n From macro to micro measurement Well-being is multi-dimensional n n n n Material living standards Health Education Personal activities including work Political voice and governance Social connections and relationships Environment Insecurity, economic as well as physical 4 November 2009 CMEPSP - Jean-Etienne Chapron 5

Quality of life (2) n n Objective and subjective dimensions are both important Comprehensive

Quality of life (2) n n Objective and subjective dimensions are both important Comprehensive assessment of inequalities Aggregate across quality-of-life dimensions Measure of subjective well-being: life evaluation, hedonic experiences and priorities 4 November 2009 CMEPSP - Jean-Etienne Chapron 6

Sustainable development and environment (1) n n n Sustainability : a central concern Can

Sustainable development and environment (1) n n n Sustainability : a central concern Can we at least maintain the current level of well-being for future generations ? Simultaneous preservation or increase in several assets n n Natural resources Human, social, and material capital 4 November 2009 CMEPSP - Jean-Etienne Chapron 7

Sustainable development and environment (2) n n Is a global monetary index possible ?

Sustainable development and environment (2) n n Is a global monetary index possible ? Underlying assumption : susbtituability Imputations and modelling are required for many components of natural capital: big informational difficulties A more modest approach 4 November 2009 CMEPSP - Jean-Etienne Chapron 8

Sustainable development and environment (3) n Focusing monetary aggregation on n n Physical capital

Sustainable development and environment (3) n Focusing monetary aggregation on n n Physical capital Human capital Certain natural resources Physical indicators for environmental pressures n n Help of the scientific community Identification of irreversible and/or discontinuous alterations to the environment 4 November 2009 CMEPSP - Jean-Etienne Chapron 9

What is next ? n n Not a concluding but a starting point Discussions

What is next ? n n Not a concluding but a starting point Discussions at the national and international level A global debate around the issues and recommendations of the report Final report on internet: http: //www. stiglitz-sen-fitoussi. fr/en/index. htm 4 November 2009 CMEPSP - Jean-Etienne Chapron 10

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