Veli-Matti Törmälehto

Statistics Finland

In this article, the link between financial wealth and pre-tax household income distribution is scrutinised for three European countries using a conceptually fully consistent macro framework. First, national balance sheets are combined with the related income flows. After this, income flows that are not property income but that are considered part...

Globalisation has a major impact on the levels and distribution of wealth. The financial markets are highly integrated, and valuations of financial assets follow international patterns, which has contributed to large increases in financial wealth over the past 25 years. Nonetheless, this has not led to an equally large increase in property income b...

Evaluation report on the Consumer Expectations Survey (CES) pilot survey run by the European Central Bank (ECB). ECB Occasional Paper Series No 287 / December 2021 https://www.ecb.europa.eu/pub/research/occasional-papers/html/index.en.html Summary The Consumer Expectations Survey (CES) is an important new tool for analysing euro area household e...

Globalisation has a major impact on the levels and distribution of wealth. The financial markets are highly integrated and valuations of financial assets follow international patterns, which has resulted partially large increases in financial wealth over the past 25 years. This has not led to an equally large increase in property income because the...

The coherence of household survey data with national accounts has been studied extensively in recent years, following the “Beyond GDP” initiatives. This paper compares income aggregates in EU-SILC and national accounts, adjusts for the main conceptual differences, and discusses factors that could influence the observed discrepancies. Following a pr...

This paper examines the top tail of the income distributions in the EU-SILC 2012 data. Given that EU-SILC is based on sample surveys and split into “survey” and “register” countries, the paper first discusses issues related to data quality, including extreme outliers and under-estimation of top incomes. The data is then used as it is to compute sev...

Social Transfers in Kind (STIK) are important to both understanding economic wellbeing and measuring the redistribution of income through the tax and benefits system. However, the challenges of measurement mean they are often excluded from analysis of household incomes. Estimates of the distributional impact of STIK for the UK and Finland, represen...

Measurement of economic and non-monetary well-being of households has advanced in recent years, following the ”beyond GDP” initiatives and increased availability of cross-national data sources. This paper discusses measurement of household wealth and its relation to income poverty and non-monetary deprivation in Finland, using a survey micro data s...

Abstract: Imputed rents reflect the economic benefits of owner-occupied and social housing. Known to be one of the most significant components of household disposable income, imputed rents have been available in the EU-SILC since 2007. This paper examines the quality of the data on imputed rents and their distributional impact in the period of 2007...

Most Member States have been moving or intend to move towards an increased use of administrative data for statistical purposes. This move is taking place in almost all areas of official statistics. It is driven mainly by the need to reduce the cost of data collection, to reduce the burden on respondents, and more generally to collect data only once...

This paper examines the linkages between household wealth surveys and National Accounts’ household balance sheets, in particular the conceptual linkages between two ECB statistics: the household sector of the integrated Euro Area Accounts (EAA) and the balance sheet variables of the forthcoming euro area Household Finance and Consumption Survey (HF...

This article compares the data on wages and salaries, entrepreneurial income and property income obtained from Statistics Finland Income Distribution Survey 2000 with those on primary income from National Accounts. The international community of statisticians has in the past years been interested in this kind of analysis for twofold reasons. Firstl...