Problems with the Measurement of Banking Services in a National Accounting Framework
University of British Columbia - Department of Economics; National Bureau of Economic Research (NBER)
US Bureau of Economic Analysis
International Monetary Fund (IMF) - Statistics Department
April 3, 2012
UNSW Australian School of Business Research Paper No. 2012-25
The paper considers some of the problems associated with the indirectly measured components of financial service outputs in the System of National Accounts (SNA), termed FISIM (Financial Intermediation Services Indirectly Measured). The paper utilizes a user cost and supplier benefit approach to the determination of the value of various financial services in the banking sector. The present paper also attempts to integrate the balance sheet accounts in the SNA with the usual flow accounts. An empirical example of various nominal output concepts that could be applied to the U.S. commercial banking sector is presented.
Number of Pages in PDF File: 61
Keywords: user costs, banking services, deposit services, loan services, production accounts, System of National Accounts, FISIM, Financial Intermediation Services Indirectly Measured
JEL Classification: C43, C67, C82, D24, D57, E22, E41working papers series
Date posted: April 17, 2012 ; Last revised: April 23, 2012
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