Page 79 - Revista del Centro de Investigación y Desarrollo del INEI - Economía, Sociedad y Estadística N° 9

2. Output of non-financial market companies 9 and services most affected by the restrictions, such
as leisure services.
- Some companies had to close down temporarily
so their output is zero and their employees have - Linear demand function method. Some countries
not carried out any tasks linked to the production estimate output volume, particularly for personal
process. However, certain companies have continued services, such as hairdressing or restaurants, which
to compensate employees. In addition, some have are based on the application of a linear demand
received government subsidies to cover part of the function that incorporates price and income elasticity
compensation bill and/or to support production. values, calculated on the basis of household income
and expenditure surveys. These estimates should
be reconsidered and their individual elements, such
as relative price and actual revenue, evaluated in
3. Financial companies’ output order for the result to be acceptable.

- The banks have implemented policies to extend the - Telecommunications services. An increase in the
deadlines for the payment of loan installments and volume of activity of these services has been
interest, making the parameters for default more recorded, owing to the substitution effect on
flexible and offering loans with subsidized interest consumers’ data use, resulting from teleworking
rates, among other measures. These measures have or online shopping. Service prices or rates may also
an impact on accrual-based records, as obligations be changed.
continue to be incurred but payments (in cash) are
postponed and reflected in the financial statements - Seasonal adjustment and trend-cycle estimation. In
and balance sheets of the financial institutions, as the presence of a very strong irregular component,
well as in the output of financial intermediation these adjustments may make it difficult to measure
services indirectly measured (FISIM). The central series adjusted for seasonality and trend-cycle
banks of some countries have implemented variation, as the filters used cannot correctly isolate
subsidized credit programmes, while others have that component.
set ceilings on the interest rates paid on fixed
installments. Some banking services have also been - Disaggregation of the observed and non-observed
temporarily suspended or are limited, while at the economy. The evolution of the non-observed
same time electronic transactions have multiplied, economy is based on in-depth analysis of coefficients
all of which will be reflected in the sector’s output. for the baseline or reference year, which, under
normal conditions, should be updated by the
results of studies and special household surveys,
and supplemented by employment surveys.
4. Questions

- Physical flow of goods method. This method is used
in some countries to measure trade and freight
transportation. However, inventory changes are not
taken into account because of a lack of information, 5. Recommendations
but in the current situation it can be assumed that
inventory volumes are changing significantly . i. Identify the fiscal policies implemented by the
10
government to detect economic transactions
- Price indices. The consumer and producer price and record them in accordance with the System
indices for the month of March included a higher of National Accounts 2008 (2008 SNA) and in the
proportion of imputations, particularly for the goods balance of payments, where applicable. Examples

9 Non-financial corporations and household producers.
10 Import records are one example mentioned by some countries, which are part of the product supply flow, but there is no information
on the accumulation of stocks of these goods.
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