Problems with the Measurement of Banking Services in a National Accounting Framework

61 Pages Posted: 17 Apr 2012 Last revised: 23 Apr 2012

See all articles by W. Erwin Diewert

W. Erwin Diewert

University of British Columbia (UBC) - Department of Economics; National Bureau of Economic Research (NBER)

Dennis Fixler

US Bureau of Economic Analysis

Kimberly Zieschang

International Monetary Fund (IMF) - Statistics Department

Date Written: April 3, 2012

Abstract

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.

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, E41

Suggested Citation

Diewert, W. Erwin and Fixler, Dennis and Zieschang, Kimberly, Problems with the Measurement of Banking Services in a National Accounting Framework (April 3, 2012). UNSW Australian School of Business Research Paper No. 2012-25, Available at SSRN: https://ssrn.com/abstract=2037649 or http://dx.doi.org/10.2139/ssrn.2037649

W. Erwin Diewert (Contact Author)

University of British Columbia (UBC) - Department of Economics ( email )

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National Bureau of Economic Research (NBER)

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Dennis Fixler

US Bureau of Economic Analysis ( email )

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Kimberly Zieschang

International Monetary Fund (IMF) - Statistics Department ( email )

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Washington, DC 20431
United States

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