Page 170 - Invited Paper Session (IPS) - Volume 2

IPS195 Peter van de Ven
activities, such as time spent on social media, search activities, etc., thus
allowing for an alternative way of measuring consumer surplus that may arise
3
from the digitalisation of the society .
More generally, as a point on the horizon, one would like to see the
development of an overarching accounting framework, in which statistics on
economic, societal and environmental issues are integrated (not necessarily
monetised), and in which one can easily drill down into micro-datasets. It is
clear that this can only be a long-term goal, also requiring the development
of a suitable conceptual framework. As a more realistic goal for the nearer
future, one could envision the regular compilation of certain thematic satellite
accounts, such as the ones mentioned in the above. Having accounts for the
environment, health, education and unpaid household activities, or time use
more generally, compiled on a regular basis for a substantial number of
countries would definitely support the monitoring and analysis of quite a
number of well-being aspects included in the OECD Better Life Index, and
other dashboards at international and national level. In doing so, it is not
necessary to compile all accounts at a quarterly or annual basis. Some
accounts, for which structural developments are the primary focus, one could
think of a compilation every 2-3 years, depending on user demands and the
availability of source data.
In developing such a broader framework, one should acknowledge the
importance of communication. Referring to the traditional set of national
accounts as being the “central framework” or the “core” set of national
accounts, and referring to the measurement frameworks for other areas as
being satellite accounts, is not particularly helpful. In line with Vanoli (2017),
we need to rethink terminology and the content of what’s currently being
referred to as the central framework. Vanoli proposes to refer to the current
set of national accounts as the System of National Economic Accounts (SNEA),
and to include a much broader set of accounts in the central framework of
national accounts. One would perhaps even want to go a step further when it
comes to the term for the current set of national accounts,and refer to it as
the System of National Monetary Accounts, to make clear that economy is
more than a consistent set of monetary transactions and positions.

2 A satellite account is a set of accounts that are linked to, but distinct from, the central
framework of national accounts. One type involves some rearrangement of central
classifications and the possible introduction of complementary and/or more detailed elements,
which do not change the underlying concepts of the SNA in a fundamental way. A second type
of satellite analysis is mainly based on concepts that are alternatives to those of the SNA. These
include a different production boundary, an enlarged concept of consumption or capital
formation, an extension of the scope of assets, and so on.
3 It won’t be possible to achieve the requested granularity and timeliness by applying traditional
survey methods; more thinking is needed about the potential of big data to compile time use
data, or at least to supplement current data collection methods.
157 | I S I W S C 2 0 1 9