Page 25 - Invited Paper Session (IPS) - Volume 2

IPS178 Kuniko M.
The importance of communication between
compilers and users in improving the quality of
Statistics: The bank of Japan’s experience

Kuniko Moriya
Bank of Japan, Tokyo, Japan

Abstract
Economic and financial statistics form the basis of assessments and forecasts
of economic and financial conditions. In order for central banks and other
policymakers to conduct policies appropriately, ongoing improvement in the
quality of these statistics is essential. In relation to these statistics, the Bank of
Japan wears two hats — statistics compiler and user.
As a compiler of statistics, the Bank makes continuous efforts to improve the
quality of the statistics it compiles, reflecting changes in economic and
financial structures in a timely manner. It explores better data sources,
develops more accurate and effective estimation methods, and expands the
coverage of its statistics where necessary and possible. When the Bank decides
to make major revisions of statistics, it provides users of these statistics with
the necessary information regarding the revision plans in advance and collects
opinions and comments through a public consultation process. Taking on this
feedback, the Bank aims to provide the most useful statistics possible for users.
Central banks also use a wide range of statistics for the assessment of
economic and financial conditions. The quality of these statistics is important
to make assessments and policy decisions. In Japan, statistics reform has been
in progress under the Japanese government’s Statistics Reform Promotion
Council, with the aim of promoting evidence-based policy making (EBPM). In
this context, the Bank of Japan contributes to improvements in statistics not
only as a compiler but also as a user of them.
This paper outlines the Bank’s efforts to improve the quality of statistics, with
an emphasis on the importance of communication between compilers and
users. The paper first provides an overview of the Bank’s communication with
users of the statistics it compiles. Examples are presented, such as those
reflecting user feedback on comprehensive revisions or updates of its
statistics. Secondly, the Bank’s experience of improvements in statistics which
are brought about by the synergy between statistics compilers and users are
presented. The paper also explains the Bank’s contributions to statistics
reform, which Japan’s current administration promotes.

Keywords
official statistics; public consultation process; statistics reform

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