The advantages of data-sharing: the use of mirror data and administrative data to improve the estimation of household external assets/liabilities
Series: Statistical Notes. 13.
Author: Daniel Sánchez Meneses.
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Summary
Compiling the financial assets/liabilities of households in the balance of payments (b.o.p.) /
international investment position (i.i.p.) is commonly considered as one of the most challenging issues faced by statisticians. This is in light of the multiple limitations of this institutional sector when a direct collection system is designed in terms of complexity, coverage or accuracy. Therefore, it is necessary to find other alternatives or complementary information to enhance the estimation of these data with the aim of making them as real as possible. This is when data-sharing among institutions and countries can play an important role.
This paper presents the Spanish experience working towards an improvement in the regular production of official external statistics regarding transactions and positions of households, not subject to the sources of information collected in first instance by the compiler but using all available sources of information and taking advantage of its complementarity. The paper will present the usefulness of mirror data sources and administrative data going through different financial instruments held/taken abroad by this sector: deposits, loans, life insurance technical reserves, securities and real estate.