Imputed Rent for OOH in National Account

2020 ◽  
pp. 325-358
Author(s):  
W. Erwin Diewert ◽  
Kiyohiko G. Nishimura ◽  
Chihiro Shimizu ◽  
Tsutomu Watanabe
Keyword(s):  
National Account ◽  
Imputed Rent

scholarly journals Housing wealth, mortgages and Australians’ labour force participation in later life

Urban Studies ◽  
2021 ◽  
pp. 004209802110265
Author(s):  
Rachel Ong ◽  
Gavin A Wood ◽  
Melek Cigdem
Keyword(s):  
Household Income ◽  
House Prices ◽  
Labour Force ◽  
Housing Markets ◽  
Later Life ◽  
Labour Force Participation ◽  
Urban Housing ◽  
Housing Wealth ◽  
Working Lives ◽  
Imputed Rent

In the life cycle model of consumption and saving, homeownership is an important vehicle for horizontal redistribution. Households accumulate wealth in owner-occupied housing during working lives before benefiting from imputed rent streams in retirement. But in some countries housing wealth’s welfare role has broadened as owners increasingly use flexible mortgages to smooth consumption during working lives. One consequence is higher outstanding mortgages later in life, a burden exacerbated by high real house prices that compel home buyers to demand mortgages that are a growing multiple of their incomes. We investigate whether these developments are prompting longer working lives, an idea that is especially relevant in countries offering relatively low government pensions. Australia is one such country. We use the 2001–2017 panels of the Household, Income and Labour Dynamics in Australia Survey to estimate hazard models of exits from the Australian labour force as workers approach pensionable age. We find that those with high outstanding mortgage debts are more likely to postpone retirement, as are those with relatively low amounts of private pension wealth. These results are stronger in urban housing markets, and especially among males.

scholarly journals Joint Estimation of the Characteristics and Intensity of Poverty in Spain: The Case of Imputed Rent

2010 ◽  
Vol 2010 ◽  
pp. 1-17 ◽  
Author(s):  
José L. Calvo ◽  
Cristina Sánchez ◽  
Pedro Cortiñas
Keyword(s):  
Rural Areas ◽  
Home Ownership ◽  
Methodological Approach ◽  
Joint Estimation ◽  
Policy Implications ◽  
Truncated Regression ◽  
Geographical Differences ◽  
Heckman Model ◽  
Poor Population ◽  
Imputed Rent

In 2007 the Spanish National Institute of Statistics modified the methodological approach to the Survey of Income and Living Conditions and included an estimate of Imputed Rent. It removes one of the main criticisms of Spanish poverty studies since this variable is associated with home ownership, and because more than 80% of Spanish families are homeowners, its exclusion biased the estimates of the size of Spain's poor population and poverty intensity. We estimate a Heckman model with a selection equation in which the dependent variable is the probability of being poor, and a truncated regression to explain poverty intensity. Our findings have at least two economic policy implications: Spanish social policy against poverty should take into account geographical differences but, at the same time, should consider Imputed Rent. Without this variable efforts should concentrate in Spanish less developed regions and rural areas, but if we include it poverty increases in urban population. The article has also reveals that most retired people cannot be considered poor if we take into account wealth (imputed rent included) instead of current income (pension).

scholarly journals Perceived crowding and physical distance rules: a national account perspective

2021 ◽  
Vol 3 (3) ◽  
pp. 330-341
Author(s):  
Andrea Karim El Meligi ◽  
◽  
Donatella Carboni ◽  
Giorgio Garau
Keyword(s):  
National Park ◽  
Local Level ◽  
Social Factor ◽  
Physical Distance ◽  
National Account ◽  
Tourist Attractions ◽  
Macroeconomic Analysis ◽  
Employment Impact ◽  
The Social ◽  
Using Data

<abstract><p>Policies concerning the sustainable tourism are fundamentally addressed to the environmental protection and to minimize the anthropogenic impact when exploiting beaches, archeological sites and other tourist attractions. In this paper, we propose a subjective measure, namely the Perceived factor, in order to take into account the more general dimension of the social factor in the assessment of the Tourism Carrying Capacity (TCC) measures. The analysis evaluates the employment impact of the perceived crowding by using data resulting from a survey conducted in the Asinara National Park. In this respect, a macroeconomic analysis is presented by using a SAM scheme developed at a local level, based on four municipalities representing a potential gravitational area of tourists visiting the Asinara National Park. Afterward, a SAM-based model combined with the sustainability measures is proposed to compute the employment loss due to the Perceived factor.</p></abstract>

scholarly journals Análisis del subsector museos y su contribución económica en México

UVserva ◽  
2020 ◽  
pp. 20-34
Author(s):  
Azminda Meybelli Román Nieto
Keyword(s):  
North American ◽  
Classification System ◽  
Growth And Development ◽  
National Account ◽  
Economy Growth ◽  
The North ◽  
Palabras Clave ◽  
Account System

El presente artículo analiza el papel de los museos en el sector de la cultura en México y su contribución económica. Para ello, se tomó como base para el análisis de los años 2016 y 2017, los resultados del Sistema Nacional de Cuentas del INEGI, (Año base 2013) y la clasificación del Sistema de Clasificación Industrial de América del Norte SCIAN (2018).Palabras clave: Sector; economía; crecimiento; cultura; museos. AbstractThis article presents the role of museums in the culture sector in Mexico and how they contribute to the growth and development of the country. For this, the results of the National Account System of INEGI, (Base Year 2013) and the classification of the North American Industrial Classification System SCIAN (2018) are taken as the basis for the analysis.Keywords: Sector; Economy; Growth; Culture; Museums.

Measuring the housing sector’s contribution to GDP in emerging market countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Arthur Acolin ◽  
Marja Hoek-Smit ◽  
Richard K. Green
Keyword(s):  
Emerging Market ◽  
Housing Price ◽  
Community Resilience ◽  
National Account ◽  
Housing Sector ◽  
Informal Housing ◽  
Content Type ◽  
Emerging Market Countries ◽  
Housing Services ◽  
Housing Investments

Purpose This paper aims to document the economic importance of the housing sector, as measured by its contribution to gross domestic product (GDP), which is not fully recognized. In response to the joint economic and health crises caused by the COVID-19 pandemic, there is an opportunity for emerging market countries to develop and implement inclusive housing strategies that stimulate the economy and improve community health outcomes. However, so far housing does not feature prominently in the recovery plans of many emerging market countries. Design/methodology/approach This paper uses national account data and informal housing estimates for 11 emerging market economies to estimate the contribution of housing investments and housing services to the GDP of these countries. Findings This paper finds that the combined contribution of housing investments and housing services represents between 6.9% and 18.5% of GDP, averaging 13.1% in the countries with information about both. This puts the housing sector roughly on par with other key sectors such as manufacturing. In addition, if the informal housing sector is undercounted in the official national account figures used in this analysis by 50% or 100%, for example, then the true averages of housing investments and housing services’ contribution to GDP would increase to 14.3% or 16.1% of GDP, respectively. Research limitations/implications Further efforts to improve data collection about housing investments and consumption, particularly imputed rent for owner occupiers and informal activity require national government to conduct regular household and housing surveys. Researcher can help make these surveys more robust and leverage new data sources such as scraped housing price and rent data to complement traditional surveys. Better data are needed in order to capture housing contribution to the economy. Practical implications The size of the housing sector and its impact in terms of employment and community resilience indicate the potential of inclusive housing investments to both serve short-term economic stimulus and increase long-term community resilience. Originality/value The role of housing in the economy is often limited to housing investment, despite the importance of housing services and well-documented methodologies to include them. This analysis highlights the importance of housing to the economy of emerging market countries (in addition to all the non-GDP related impact of housing on welfare) and indicate data limitation that need to be addressed to further strengthen the case for focusing on housing as part of economic recovery plans.

Segmenting a national account

1987 ◽  
Vol 30 (1) ◽  
pp. 61-68 ◽  
Author(s):  
Merrill Tutton
Keyword(s):  
National Account

The Influence of Globalization and Ethnic Fractionalization on Cooperation and Trust in Kenya

2017 ◽  
Author(s):  
Nancy R. Buchan ◽  
Robert Rolfe
Keyword(s):  
Global Economy ◽  
National Level ◽  
Heterogeneous Population ◽  
National Account ◽  
Public Goods Game ◽  
Ethnic Inequality ◽  
Individual Level ◽  
The Past ◽  
Ethnic Fractionalization ◽  
The Relationship

This research examines the effects of ethnic fractionalization and globalization on individual-level propensities toward generalized trust and cooperation at the national level. Conclusions regarding both ethnic-fractionalization and globalization remain mixed as to their influence on prosocial behavior. This chapter explores the relationship between these variables in Kenya, a country with an extremely heterogeneous population that has increased integration with the global economy over the past decade. Literate Kenyan male and female adults, ages 18 to 60, from two of Kenya’s largest ethnic groups, the Luo and Kikuyu, participated in an experimental public goods game in which players contribute to, and benefit from, a national account. Results are consistent with the argument that it is not ethnic fractionalization per se that is associated with lower cooperation but increased ethnic inequality. The implications of these findings are that trust and cooperation are highly contextually based and influenced by social and environmental factors.

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