OECD guidelines for micro statistics on household wealth

Purpose of the standards and guidelinesDevelopment of the GuidelinesHistorical backgroundOECD Expert Group on Micro Statistics on Household Income, Consumption and WealthRelationship with existing international standardsStructure of the reportOverview of household wealth statisticsNeed for information on household wealthMacro level informationMicro level informationExamples of specific data needs at the micro levelWealth inequalityRelationship between household wealth and consumptionRelationship between housing prices and household wealthFinancial innovation and portfolio selectionAccess to credit and borrowing constraintsRetirement funding and pension policiesMicro simulations of household behaviourDerivation of distributional indicators for use in the national accountsObjectives and uses of micro statistics on household wealthMain objectives of the statisticsCountry examples showing the use of micro statistics on household wealth in policy makingCurrent availability of micro-level wealth dataIntegration of micro statistics on household wealth with other statisticsIntegrated statistical frameworksJoint data collectionData matchingData confrontationConfrontation of macro and micro wealth data: The case of AustraliaOECD/Eurostat Expert Group to Measure Disparities in a National Accounts FrameworkInternational data collection and measurement initiativesLuxembourg Wealth StudyEurosystem Household Finance and Consumption SurveyGlobal Wealth Reports and DatabookSummaryStandard concepts, definitions and classifications for household wealth statisticsDescription of the conceptual framework for micro statistics on household wealthThe broad micro frameworkRelationship between the micro and macro frameworksConceptual relationship between micro statistics on household wealth, income and consumptionBasic concepts and definitions for household wealth statisticsHouseholdComparison of different definitionsDefinitions of household and associated concepts for micro statistics on household wealthHouseholdHousehold categoriesHousing arrangementPlace of usual residenceCountry of residenceRelationship between the household definition and statistical coverageRelationship between the household definition and unit of measurementRelationship between the concepts of household and familyWealth and net worthAssets and liabilitiesTreatment of consumer durablesGeneral principles of recordingValuationTime of recordingConsolidation and nettingCoverageUnit of measurementCollection unitAnalysis unitStandard components of household wealthList of standard componentsNon-financial assetsFinancial assetsLiabilitiesSub-components of assets and liabilitiesShares in corporationsPension fundsLoansData availabilityConsistency with the 2008 SNA balance sheet componentsRelationship to micro statistics on household incomeAsset and liability groupsHousehold groupsHousehold size and compositionGeographic locationTenure typeIncome and wealth classesAge, educational attainment and/or labour force status of the household reference personSelection of the household reference personOther variables related to wealth/net worthFlow variablesCapital transfersTransactions in non-financial assetsTransactions in financial assets and liabilitiesHolding gains and lossesFlows not arising from transactions or price changesAttitudinal and behavioural variablesConsistency with other international statistical standardsSNA standardsCanberra Group standards for micro statistics on household incomeICLS standardsUN and UNECE/CES population census standardsData sources and methods for producing household wealth statisticsDifferent types of sources and methodsStrengths and weaknesses of different approachesCombination of different sources: Purposes and methodsSummaryMeasurement guidelines for standard components of household wealthMeasurement unitsReference points and reference periodsValuation basisNon-financial assetsReal estateValuation of real estateVehiclesOther consumer durablesValuablesIntellectual property and other non-financial assetsFinancial assetsCurrency and depositsBonds and other debt securitiesEquity in own unincorporated enterprisesShares and other equityMutual funds and other investment fundsLife insurance fundsLife insurance policy before maturityAnnuitiesPension fundsDefined contribution schemesData sourcesEstimation methodDefined benefit schemesRetirement ageBenefits before retirement ageCollecting dataOther financial assetsLiabilitiesReal estate loansOther investment loansConsumer durable loansEducation loansOther loans and liabilitiesSummaryNotesMeasuring household wealth through surveysGeneral measurement issuesMeasurement issues specific to wealth surveysSurvey development and data collectionSurvey scopeCross-sectional or panel observations and survey frequencyDesign and development of the survey questionnaireSampling design: General principlesSampling design: Wealth surveysScope and coverageCollection methodsCollection unitReference personRespondent co-operationRole of the interviewerSurvey administrationAssessment and treatment of collected dataData checking, editing and imputationEstimates and variabilityPreserving confidentialitySurvey evaluationSummaryNotesAnalytic measuresLife-cycle perspective and analysis by population subgroupsUnit of analysisSpecific analytic measures and their useMeans and mediansFrequency distributionsDistribution functionQuantile measuresPercentile ratiosWealth sharesLorenz curveEquivalence scalesInequality indicesGini coefficientsCoefficient of variationExponential measureTheil and Atkinson indicesComparison of summary measuresChoice of summary measuresRatios and percentage sharesAdjusting for price differencesAdjusting for price changes over timeAdjusting for price and currency differences between countriesWealth indicatorsInternational statistical comparisonsSummaryNotesDisseminationTypes of disseminationAnalysisData tablesMicro-data filesSpecific issues concerning the dissemination of wealth dataCharacteristics of the distribution of wealth dataOn trends in wealth dataLongitudinal wealth dataDissemination guidelinesSummaryNotesQuality assurance for household wealth statisticsQuality assurance frameworksInstitutional environmentRelevanceAccuracyComparabilityCoherenceTimelinessAccessibilitySummaryBibliography
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