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This book brings together the experience of central banks and national statistical agencies in countries that focus their monetary policy on inflation targets. Inflation targeting has led to a close interface between these two sets of institutions. When the performance of a central bank is measured in terms of specified price indices, which are usually compiled and disseminated by the national statistical agency, the role of national statistical agencies becomes central to the credibility of monetary policy. Data needs and uses have also shifted, with implications for national and international statistics compilation: market data have gained in importance; less emphasis is placed on traditional monetary aggregates; and greater attention is paid to timeliness, adherence to sound economic accounting standards, and other aspects of data quality.
This Report on the Observance of Standards and Codes (ROSC) data module provides a review of Italy’s data dissemination practices against the IMF’s Special Data Dissemination Standard (SDDS), complemented by an in-depth assessment of the quality of national accounts, consumer price index, producer price index, government finance, monetary, and balance-of-payments statistics. The assessment reveals that Italy subscribes to the SDDS. It also meets the SDDS specifications for coverage, periodicity, and timeliness for all data categories (with two exceptions) and for advance release calendars.
This Manual provides guidance to compilers of national accounts on the concepts, data sources, and compilation methods required for development of a system of quarterly national accounts. More and more countries are recognizing that quarterly national accounts are an essential tool for management and analysis of their economy. The Manual is intended particularly for compilers who already have a knowledge of annual national accounting concepts and methods, and provides techniques for the development of a consistent time series of annual and quarterly accounts. It serves as acomplement to the System of National Accounts 1993, which has only a limited discussion of quarterly accounts, and will also prove useful as a tool for sophisticated users of quarterly national accounts.
National income estimates date back to the late 17th century, but only in the half-century since the Second World War have economic accounts developed in their present form, becoming an indispensable tool for macroeconomic analysis, projections and policy formulation. Furthermore, it was in this period that the United Nations issued several versions of a system of national accounts (SNA) to make possible economic comparisons on a consistent basis. The latest version, SNA 1993, published in early 1994, occasioned this collection of essays and commentaries. The three chief objectives of the volume are: to enhance understanding of socioeconomic accounts generally and of SNA 1993 in particular; to offer a critique of SNA 1993, including constructive suggestions for future revisions of the system, making it even more useful for its national and international purposes; and to serve as a textbook, or book of readings in conjunction with SNA 1993, for courses in economic accounts.