Measuring Human Capital in the UK Economic Accounts: An experimental satellite account

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Measuring Human Capital in the UK Economic Accounts: An experimental satellite account

Webinar

Thursday 9 March 2023, 12:30 — 13:30

Online

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Presented by Robert Dunn (Office for National Statistics)

The Office for National Statistics (ONS) has for over 10 years produced annual stock estimates of human capital assets, in real and nominal terms with a variety of demographic decompositions. Similarly, most published papers from both academic and national statistical institutions have focused on the production and analysis of human capital stock estimates. This presentation looks to move beyond this by considering the economic flows associated with incorporating human capital assets into the UK Economic Accounts within the context of an experimental satellite account. This constitutes a key contribution to the existing body of work, and the estimates presented here are the first of their kind for the UK and demonstrates the importance of human capital assets for the economic accounts due to their magnitude in comparison with current total non-financial assets on the UK balance sheet.

Dr Robert Dunn has worked with economic statistics for over 25 years both in academia and in the Office for National Statistics (ONS) producing, developing and reviewing official macro-economic statistics. Robert currently a Business Architect within the Economic Statistics Change Directorate of the ONS and holds a Ph.D. in economics, specialised in business cycle theory.