Materialien zu Wirtschaft und Gesellschaft: Extension of the empirical stock-flow consistent (SFC) model for Austria

Miess, Michael; Schmelzer, Stefan

Bibliographic data

Description

URN:: urn:nbn:at:at-akw:g-767872

Persistent identifier:: AC13064549

Title:: Materialien zu Wirtschaft und Gesellschaft

Sub title:: Working Paper-Reihe der AK Wien

Keywords:: Wirtschaft
Gesellschaft
Schriftenreihe

Structure type:: Series

Description

URN:: urn:nbn:at:at-akw:g-1522902

Persistent identifier:: AC14532086

Title:: Extension of the empirical stock-flow consistent (SFC) model for Austria

Sub title:: implementation of several asset classes, a detailed tax system and exploratory scenarios

Creator:: Miess, Michael
Schmelzer, Stefan

Published:: 2016

ISBN:: 9783706306515

Structure type:: Serial Volume

Description

Title:: 2 Data

Structure type:: Chapter

Description

Title:: 2.1 Preliminaries on National Annual Sectoral Accounts (NASA) Data

Structure type:: Chapter

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6—Miess, Schmelzer/SFC Model Austria—IHS
2. D2: Taxes on production and imports
3. D3: Subsidies
4. D4: Property income
5. D5: Current taxes on income, wealth, etc.
6. D6: Social contributions and benefits
7. D7: Other current transfers
8. D8: Adjustments for the change in pension entitlements
9. D9: Capital transfers
The challenge is to create a stock-flow consistent transaction flow matrix from these accounts,
since in the production account, sources of funds are generally not recorded as uses of funds for
other agents, unlike in the distributive transactions account.
C. Financial Transactions (FTR), 1995 - 2014 Financial transactions between institu-
tional units record the (Eurostat, 2013)[chapter 5]:
1. Simultaneous creation or liquidation of a financial asset and the counterpart liability, or a
2. Change in the ownership of a financial asset, or
3. The assumption of a financial liability.
They are classified in the same categories as financial assets/liabilities described above.
D. Revaluation (REV) and F. other changes in volume (FOC) accounts, 2012 - 2014
These accounts show
1. the revaluation effects resulting from price changes for financial assets and liabilities, as
well as
2. Other changes in volume resulting from events not part of the economy (e.g. catastrophic
losses) or other financial losses (e.g. write-offs of debt due to default, currency losses).
Since the REV and FOC accounts are available only for a shorter time period than balance
sheets (only from the year 2012 onwards) from Eurostat data sources than non-financial and
financial transactions data, we have to compensate for this fact in our modelling procedure, see
section 2.2.3.

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