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The Accounts of Society ­ ­– National Accounts at the Service of Economic and Monetary Policy Making

The Accounts of Society – National Accounts at the Service of Economic and Monetary Policy Making - Luxembourg, 12‐13 June 2014

The title of this conference was chosen with reference to the remarkable Nobel Memorial Lecture by Richard Stone in December 1984. As Richard Stone stated the role of an accounting system should not only be restricted to economic phenomena but can as well cover socio-demographic and environmental aspects. At the same time the implementation of an accounting system has to follow principles of practical convenience and accommodates changes over time.

This is exactly the point where the European Union stands right now. After 14 years of ESA 95 this year, as from September 2014, the EU will introduce the new European System of Accounts 2010 (ESA 2010). The ESA 2010 is a major development in measuring National Accounts aggregates in a harmonised way in Europe and brings a number of significant improvements compared to the past, e.g. the capitalisation of research and development.

On this occasion Eurostat decided to organise and host this international conference with high-profile speakers from European Countries, non-European Countries and from the European Commission. It shall bring together the political level, national accounts compilers and academics. The aim is to highlight the importance of National Accounts for economic and monetary policy making and for society in general. The participants will analyse the implementation of ESA 2010 in Europe and of SNA 2008 in other parts in the world. The conference will also widen the scope beyond "core" National Accounts. It will address household aspects, the question of what is beyond GDP, as well as the challenges National Accounts are facing in view of globalisation and the global financial crisis. Finally, the future of National Accounts will be discussed.

We are expecting lively and fruitful discussions and a bit of thinking outside the box.