Developing sub-annual Distributions of Household Economic Accounts
Format: IPS Abstract
Keywords: income, wealth, well-being
Monday 17 July 2 p.m. - 3:40 p.m. (Canada/Eastern)
After the onset of the COVID-19 pandemic Statistics Canada developed sub-annual Distributions of Household Economic Accounts (DHEA), for income, consumption, saving and wealth. Leveraging the agency’s long standing Social Policy Simulation Database and Model, as well as some new nowcasting efforts, and administrative data sources, the team was able to produce quarterly DHEAs which lagged the reference period at first by six months and now by three months. These timely data have been helpful in evaluating the impact of the pandemic, the corresponding government response measures as well as the post-pandemic recovery and interest rate increases on the financial well-being and vulnerability of Canadian households. This presentation will provide an overview of Statistics Canada’s sub-annual DHEA program, including up-to-date estimates and lessons learned.