TAILIEUCHUNG - Friends of the Chair on integrated economic statistics

This paper, by Broadbent and Daly, identifies 44 instances of large fiscal adjustments over the last 35 years in OECD countries. Of these 44 adjustments, it identifies 11 cases of fiscal adjustment that were accomplished primarily through cuts in spending. The study argues that these expansions were considerably more robust than the expansions following tax adjustments. The paper argues that the expenditure-driven fiscal adjustments led to sharply lower bond yields and strong surges in equity prices. The authors suggest this led to strong growth in investment, which helped fuel growth rates well in excess of the OECD average in. | United Nations E 2008 6 Economic and Social Council Distr. General 12 December 2007 Original English Statistical Commission Thirty-ninth session 26-29 February 2008 Item 3 e of the provisional agenda Items for discussion and decision integrated economic statistics Friends of the Chair on integrated economic statistics Note by the Secretary-General In accordance with a request of the Statistical Commission at its thirty-seventh session the Secretary-General has the honour to transmit to the Statistical Commission the report of the Friends of the Chair on integrated economic statistics. The report presents a concept paper on the modalities of the integrated approach to economic statistics and includes recommendations by the Friends of the Chair arising from the concept paper. The Commission may wish to comment on the concept paper and the recommendations. E 2008 1. Official Records of the Economic and Social Council 2007 Supplement No. 4 E 2007 24 chap. . 07-63974 E 070108 l il OH il E 2008 6 Report of the Friends of the Chair on integrated economic statistics Contents I. Introduction. II. Need for integrated economic statistics . III. Integration of economic statistics. A. Conceptual issues. B. Statistical production issues. C. Institutional issues. IV. Production of integrated economic statistics. A. Frame sampling and coverage. B. Content and collection. C. Processing and post-collection. D. Outputs. E. Feedback from national accounts. V. Institutional arrangements for managing integrated economic statistics . . . . A. Advisory committees. B. Relationship meetings. C. Memorandums of understanding and service level agreements. VI. Conclusion and recommendations. Annex Countries and organizations participating in the Friends of the Chair Group Paragraphs Page 1-5 3 6-8 4 9-12 5 12-15 5 16-18 6 19-21 7 22-47 8 26-32 8 33-36 10 37-42 11 43-45 13 46-47 13 48-57 14 50-52 14 53-54 15 55-57 15 58-59 16 18 2 07-63974 E 2008 6 I. Introduction 1. The .

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