SATELITSKI RAČUNI V ČEŠKI REPUBLIKI: ZGODOVINA IN PERSPEKTIVE

SATELITSKI RAČUNI V ČEŠKI REPUBLIKI: ZGODOVINA IN PERSPEKTIVE Jana Kramulova, jana.kramulova@vse.cz, Ekonomska univerza v Pragi Jakub Fischer, fischerj@vse.cz, Ekonomska univerza v Pragi POVZETEK Namen prispevka je predstaviti zgodovino in perspektive satelitskih računov na Češkem. Z zgodovinskega vidika se v okviru nacionalnih računov zbirata dve vrsti satelitskih računov: satelitski računi za turizem in satelitski računi za neprofitne organizacije. Satelitski računi za turizem omogočajo analizo gospodarskega položaja turistične industrije, vključno s kazalniki, kot so število obiskovalcev (prihodi in odhodi), zmogljivost in izkoriščenost nastanitvenih objektov ipd. Satelitski računi za neprofitne organizacije uporabljajo širšo definicijo neprofitnega sektorja kot rezidenčni institucionalni sektor»nepridobitne institucije, ki opravljajo storitve za gospodinjstva«(npish). V nasprotju z NPISH neprofitne organizacije vključujejo tudi javne univerze. Kljub temu je vzpostavitev nacionalne metodologije novih satelitskih računov zelo draga. Poleg tega je težko voditi račune za vsako leto in napolniti okvir satelitskih računov s tekočimi podatki. Vidimo priložnost za tesno sodelovanje med uradno statistiko in akademskim okoljem. S takim sodelovanjem bi bilo mogoče vzpostaviti nacionalno metodologijo okoljskih satelitskih računov za Češko. Prispevek predstavlja osnove za češke okoljske račune. Ključne besede: nacionalni računi satelitski računi, satelitski računi za turizem, okoljski računi, SATELLITE ACCOUNTS IN THE CZECH REPUBLIC: A HISTORY AND PERSPECTIVES ABSTRACT The aim of the paper is to present a history of satellite accounts in the Czech Republic and the perspectives. From the historical point of view, two satellite accounts are compiled within the framework of national accounts: tourism satellite accounts and satellite accounts of non-profit organizations. Tourism satellite accounts allow us to analyze the economic situation of tourism industry, including natural indicators such as number of visitors (incoming and outgoing), capacity and utilization of accommodation facilities etc. Satellite accounts of nonprofit organizations use wider definition of non-profit sector than the residential institutional sector Non-Profit Institutions Serving Households (NPISH). Contrary to NPISH, non-profit organizations include also public universities. Nevertheless, it is very expensive to create a national methodology of new satellite accounts. Moreover, it is also hard to keep the accounts

for every year and fill the framework of satellite accounts by current data. We see the opportunity of strong co-operation between the official statistics and the academia. Thanks to this co-operation, it could be possible to create a national methodology of environmental satellite accounts for the Czech Republic. Foundations of the Czech environmental accounts are presented in this paper. Key words: Satellite Accounts, Tourism Satellite Accounts, Environmental Accounts, National Accounts 1 INTRODUCTION In this paper Czech satellite accounts are briefly introduced. The Czech Republic sets up national accounts according to the methodology of ESA (European System of Accounts); recently a so-called Revision 2011 has been implemented. The aim of this paper is not only to present history and presence of satellite accounts in the Czech Republic, but also to point out potential future challenges. In the paper we present two satellite accounts which are already being compiled in the Czech Republic (including examples); and possible extension of satellite accounts (for example by environmentaleconomic accounts) will be discussed. The structure of the paper is following: firstly a short introduction of satellite accounts worldwide is presented and we focus on the importance of satellite accounts. After that we move on to the situation in the Czech Republic; two already existing satellite accounts will be introduced. Next we mention perspectives and challenges and finally we add some conclusions and recommendations. 2 SATELLITE ACCOUNTS COMPILED IN THE WORLD The System of National Accounts is worldwide more and more commonly used. Unfortunately the situation is not the same with the so called satellite accounts. This conception is based on the principle, that each satellite account suitably extends the information mentioned in national accounts. Therefore satellite accounts focus on component parts and they offer more detailed and proper insight in their topic. Let us mention some of the topics satellite accounts focus on: The System of Health Accounts (SHA) latest versions 2000, 2011 based on the Organization for Economic Co-operation and Development (OECD) methodology 1, implemented in 13 OECD countries 2 : Australia, Canada, Denmark, Finland, Germany, Hungary, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland and Turkey; Tourism Satellite Account (TSA) last versions 2000, 2008 joint methodology of United Nations Statistics Division (UNSD), the Statistical Office of the European Communities (EUROSTAT), the Organization for Economic Co-operation and Development (OECD) and the World Tourism Organization (UNWTO) implemented (in various stages) in around 35 countries worldwide 3 ; 1 OCED. www.oecd.org/health/sha 2 OECD. http://www.oecd.org/health/sha/implementation 3 OECD Tourism Trends and Policies 2010, p. 104-105 2

The System of Environmental-Economic Accounting (SEEA) versions 1993, 2003; 2012 a revised version of the Handbook of national accounting Integrated environmental and economic accounting is expected. The work is conducted in a joint effort with the United Nations Statistics Division, the International Monetary Fund, the OECD and the World Bank. 4 ; it exists also modification in the form of Integrated Environmental and Economic Accounting for Fisheries (SEEAF, 2006) or The System of Environmental-Economic Accounting for Water Resources (SEEAW, 2007); The Household Satellite Accounts (HHSA) version 2003 5 ; And other possible fields like for example agriculture, transport, education or R&D 6. 3 IMPORTANCE OF SATELLITE ACCOUNTS The main importance of satellite accounts consists in the fact, that they can focus directly on a particular area of economy and can define more proper indicators and provide the users with more detailed information. Now we explain the relationship between national accounts and subject-matter statistics. This relationship provides the reason for satellite accounts formation. The system of national accounts is a complex macro-economic, statistical and descriptive model of the economy consisting of data on different parts of economy. We consider complexity of the system as the main advantage of this data source. It has two important consequences. Firstly, production indicators (sales, output, value added) - contrary to other data sources - are balanced with the side of uses. Secondly, productivity indicators such as labour productivity and multi-factor productivity (incl. total factor productivity index) are based on indicators which have the same methodological basis. The other advantage of national accounts data usage consists in unification and harmonisation across regions and time. Since the indicators included to national accounts are strongly harmonised by EUROSTAT 7, it allows very good comparison of data between countries, industries and in time. It unfortunately implies one disadvantage: indicators are unified for all industries so it is impossible to include industry-specific indicators 8. Satellite accounts, which connect complexity and unification of national accounts to specific sectoral perspective, overcome this disadvantage. Each of the satellite accounts mentioned above has its advantage in comparison to national accounts. That s why they are even built. They can be an ideal tool to uncover the main problems and inaccuracy in national accounts. This is possibly thanks to the fact, that the object of interest is usually quite limited. It is not realistically possible to study all problems because of extent and complexity of national accounts. On the contrary space for solving these questions opens just in satellite accounts. Subsequently, thanks to (good) praxis in satellite accounts new solutions may possibly be implemented in national accounts revisions. For example The Household Satellite Account (HHSA), also known as Household Accounts or Household Account, measures and values unpaid household labour, household production 4 Pofantis (2008b), p. 38 5 Household production and consumption - Proposal for a Methodology of Household Satellite Accounts 6 Pofantis (2008a), p. 32 7 See also Eurostat (1998) 8 For more detailed analysis of the relationship between the System of National Accounts and subject-matter statistics see Fischer, Vltavská (2011), p. 142-143. 3

and household output in the UK, such as cooking, cleaning, DIY and childcare. 9 These experiences can be applied in solving problems with imputed values. Another example: The SEEA is a statistical system to organize statistical data for the derivation of coherent indicators and descriptive statistics to monitor the interactions between the economy and the environment and the state of the environment to better inform decision-making. 10 Thanks to SEEA topics like sustainability or Green GDP can be discussed. The environmental accounts are also used to analyse the effect of economic policy measures, such as what impact a tax for industry would have on the generation of waste or air emissions. 11 4 HISTORY AND PRESENCE OF SATELLITE ACCOUNTS IN THE CZECH REPUBLIC From the historical point of view, first satellite accounts were created in France in 1976 12. In the Czech Republic, two satellite accounts exist up to now Tourism Satellite Account and Satellite Account of Non-profit Organizations Serving Households (NPISH). The publication of Tourism Satellite Account tables started in the Czech Republic in the year 2004. The biggest obstacle by creating this satellite account was (according to Hronová et al. 13 ) the insufficient database and also sometimes very hardly explainable year-to-year differences in values. In the Czech Republic following Tourism Satellite Account Tables 14 are now (Autumn 2011) published: TSA T1 - Inbound tourism consumption in the Czech Republic TSA T2 - Domestic tourism consumption in the Czech Republic TSA T3 - Outbound tourism consumption in the Czech Republic TSA T4 - Internal tourism consumption in the Czech Republic TSA T5 - Production accounts of tourism industries and other industries in the Czech Republic TSA T6 - Domestic supply and internal tourism consumption by products in the Czech Republic TSA T7 - Employment in the tourism industries TSA T8 - Gross fixed capital formation in tourism in the Czech Republic TSA T10 - Non-monetary indicators in tourism in the Czech Republic TSA - Main indicators of the national economy and tourism in the Czech Republic Usually the data time series are available between the years 2003 and 2009. The so far missing TSA T9 table will focus on tourism collective consumption 15. Satellite Account of Non-profit Organizations Serving Households (NPISH) was in the Czech Republic firstly published in the year 2002. Its biggest benefit is (according to Hronová et al. 16 ) the quantification of imputed voluntary work value. Tables include not only simplified 9 National archives UK. http://webarchive.nationalarchives.gov.uk/20100406130654/statistics.gov.uk/statbase/product.asp?vlnk=9338 10 UN. http://unstats.un.org/unsd/envaccounting/seea.asp 11 Pofantis (2008b), p. 36 12 Hronová et al. (2009) 13 Hronová et al. (2009), p. 248 14 Czech Statistical Office (2011). http://www.czso.cz/eng/redakce.nsf/i/tourism_satellite_account_tables 15 Hronová et al (2009), p. 248 16 Hronová et al. (2009), p. 248 4

sector account of S. 15, but also non-profit organizations included into other sectors (for example public universities). Five time series tables exist 17 : Expenses of NPIs, Revenues of NPIs, Transfers at NPIs, Other transfers received NPISH, Other transfers paid NPISH. Time series tables are formed for the following years: from 2002 to 2008. 14 other tables 18 are formed (also for years from 2002 to 2008) very similar to national accounts sequence: Aggregate NPI sector for the defined year Aggregate NPI sector: Production account for the defined year Aggregate NPI sector: Generation of income account for the defined year Aggregate NPI sector: Primary distribution of income account for the defined year Aggregate NPI sector: Secondary distribution of income account for the defined year Aggregate NPI sector: Redistribution of income in kind account for the defined year Aggregate NPI sector: Use of disposable income account for the defined year Aggregate NPI sector: Acquisition of non-financial assets account for the defined year Aggregate NPI sector: Financial account for the defined year Aggregate NPI sector: Employees for the defined year Number of NPIs included into satellite account for the defined year Output by industry, sector and type of institution for the defined year Value added (gross) by industry, sector and type of institution for the defined year Number of employees (FTE) by industry, sector and type of institution for the defined year Furthermore 6 supplementary analytic tables 19 are being published: Table 1.1: Index year-on year of average registered number of employees, full-time equivalent in NPISHs Table 1.2: Registered number of voluntary workers in NPISHs Table 1.3: Number of hours volunteered in NPISHs Table 1.4: Index year-on-year of wages - excl. other personnel expenses in NPISHs Table 1.5: Contributions and gifts received, membership dues received and operating subsidies of reporting units in NPISHs: by legal form Table 1.6: Expenses of reporting units in NPISHs: by legal form 5 EXAMPLES OF CZECH SATELLITE ACCOUNTS 17 Czech Statistical Office (2011). http://apl.czso.cz/pll/rocenka/rocenkavyber.satelit_cas?mylang=en 18 Czech Statistical Office (2011). http://apl.czso.cz/pll/rocenka/rocenkavyber.satelit_en 19 Czech Statistical Office (2011). http://apl.czso.cz/pll/rocenka/rocenkavyber.satelit_cas?mylang=en&co=supl 5

In this chapter two examples of satellite accounts tables in the Czech Republic are introduced. First one (table 1) is related to Tourism Satellite Account, the other one (table 2) to Satellite Account of Non-profit Organizations Serving Households (NPISH). Table 1 Inbound tourism consumption in the Czech Republic in 2003-2009 * (TSA table T1) - CZK mil. Indicator 2003 3) 2004 3) 2005 3) 2006 3) 2007 3) 2008 4) 2009 5) Same-day visitors 20 664 24 445 25 360 25 762 27 907 27 289 23 783 by product: TA/TO services 1)....... Accommodation x x x x x x x Boarding 2 229 2 637 2 735 2 779 3 010 2 922 2 899 Transport 248 294 305 310 335 223 232 Goods 17 416 20 602 21 374 21 713 23 521 23 199 19 588 Other 771 912 946 961 1 041 945 1 064 Tourists 81 063 94 177 97 146 99 196 100 662 90 783 83 789 by product: TA/TO services 2) 303 352 363 370 415 396 400 Accommodation 20 926 24 314 25 086 25 603 26 622 23 874 20 908 Boarding 18 910 21 970 22 660 23 146 23 075 20 707 19 177 Transport 8 898 10 333 10 662 10 875 11 668 10 074 9 994 Goods 24 390 28 336 29 225 29 856 29 577 27 270 25 497 Other 7 636 8 872 9 150 9 347 9 305 8 463 7 814 Transit 10 708 14 399 15 537 16 542 17 551 18 452 17 479 by product: TA/TO services 1)....... Accommodation 0 0 0 0 0 0 0 Boarding 499 591 613 623 621 722 945 Transport 8 552 11 845 12 888 13 847 14 866 15 080 13 965 Goods 1 586 1 878 1 949 1 982 1 975 2 566 2 460 Other 72 85 88 90 89 83 109 Total visitors 112 434 133 020 138 043 141 500 146 120 136 524 125 051 by product: TA/TO services 2) 303 352 363 370 415 396 400 Accommodation 20 926 24 314 25 086 25 603 26 622 23 874 20 908 Boarding 21 638 25 197 26 008 26 548 26 707 24 351 23 020 Transport 17 698 22 472 23 854 25 032 26 870 25 377 24 192 Goods 43 391 50 817 52 548 53 551 55 073 53 036 47 545 Other 8 478 9 868 10 184 10 397 10 435 9 491 8 986 * Consumption included that part of expenses paid in the country of the non-resident which goes to the Czech Republic 1) Resources allocated to the CR are not given separately in the category "TA/TO services" 2) Corresponds to the margins of the travel agencies and tour operators 3) Revised data 4) Semi-definitive data 5) Preliminary data x illogical Source: Czech Statistical Office (2011). http://www.czso.cz/eng/redakce.nsf/i/tsa_t1_inbound_tourism_consumption_in_the_czech_republic 6

Table 2 SA NPISH Table 1.3: Number of hours volunteered in NPISHs (Classification: ISEKTOR 15000) Legal form code Name of legal form 2005 2006 2007 2008 117 Foundation 181 876 109 040 64 578 31 578 118 Endowment found 132 718 280 626 297 274 102 803 141 Generally beneficial company 155 196 88 040 213 175 163 322 611 Secondary school 0 0 0 0 621 Basic school 586 0 0 0 625 School facility 52 1 656 0 0 631 Pre-school facility 0 0 0 0 641 School legal person 0 13 060 19 886 23 728 671 Public non-profit health establishment 1 600 0 0 1 802 701 Association (club, union, etc) 40 594 639 31 550 634 72 374 807 17 314 072 711 Political party, political movement 15 507 26 178 142 037 59 974 721 Church organization 1 406 554 1 327 303 1 963 842 2 696 309 731 Organizational unit of association 19 734 543 14 621 856 7 477 466 26 011 276 741 Professional organization - chamber 49 0 3 172 1 811 751 Association of legal entities 55 879 39 803 22 155 45 302 761 Hunting community 540 468 592 191 358 614 222 970 Czech Republic, total 62 819 667 48 650 387 82 937 006 46 674 947 Source: Czech statistical office (2011). http://apl.czso.cz/pll/rocenka/rocenkavyber.satelit_cas?mylang=en&co=supl 6 PERSPECTIVES AND CHALLENGES It is clear that satellite accounts are here to stay and that they are constantly developing both maturing as well as expanding to new areas. 20 We see a great potential in co-operation between official statistics and academic sphere in this field (especially the co-operation in research projects solving). Sort of these projects are not so common in the Czech Republic so far, but we can mention successful attempt of joint project of the University of Economics, Prague, and the Czech Statistical Office (principle investigators J. Fischer and J. Sixta). For example Czech Statistical Office form GDP time series beginning from 1995 (data for 1991-1994 will be published 2012), while the University of Economics, Prague, experimentally estimates figures for the time period 1970-1990 21. Similarly thanks to co-operation of Czech Statistical Office and University of Economics, Prague, the methodology and experimental estimates of capital services were established 22. Møllgaard 23 says: There is indeed political interest in environmental accounts and in many countries they are well developed. Top of the class are countries such as Germany, Italy, Norway, the Netherlands and Sweden, where politicians have realized the value of the accounts as an analytical tool As a good challenge we see possible formation of Environmental Satellite Accounts for the Czech Republic. This effort will take some time and must be supported, but with inspiration from other already successful countries it is definitely feasible. 20 Pofantis (2008a), p. 35 21 For more see Sixta, Fischer (2011) 22 See Sixta, Fischer (2009) 23 Pofantis (2008b), p. 38 7

First attempts of SEEA formation in the Czech Republic have been actually already done. We can cite a final report of a project held in the Czech Republic during the years 2009 and 2011, aimed on environmental taxes. Environmentally related taxes and fees are among the main economic tools capable of achieving goals in the environmental field and therefore belong to high priority spheres of environmental policy. 24 As a result of a project time series of energy, resources and transport taxes from 1995 to 2008 and pollution taxes from 2001 to 2008 were created in a demanded structure. 25. The main outcomes include tables containing Energy Taxes, Pollution Taxes, Resource Taxes and Transport Taxes (see table 3 below). Following two tables (4 and 5) show examples of the final outcomes. Table 3 Twelve taxes and fees matching the environmental tax definition specified in the respective Eurostat manual found for the Czech Republic 1. Energy taxes Excise duty on mineral oils Tax on natural gas and some other gases since 1.1.2008 Tax on solid fuels since 1.1.2008 Tax on electricity since 1.1.2008 2. Pollution taxes Air pollution fees Fee for the discharge of waste water into surface water Fee for the discharge of waste water into ground water Fees for production and import of ozone depleting substances 3. Resource taxes Charge for removal of land from the agricultural land fund Fee for the withdrawal of forest land 4. Transport taxes Road tax Fee for entry to chosen places on motor vehicle Source: Eurostat, Czech Statistical Office (2011a), p. 9-10 Table 4 Comparison of estimated fees for extra large, large, and medium sources - Czech Hydrometeorological Institute (CHMI) and national accounts (NA) data comparison (mil. CZK) 2001 2002 2003 2004 2005 2006 2007 2008 CHMI 566 588 484 484 492 457 469 496 NA 607 606 589 484 500 474 515 543 CHMI/NA ratio(%) 93.2 97.1 82.1 100.0 98.4 96.4 91.0 91.3 Source: Eurostat, Czech Statistical Office (2011a), p. 12 Table 5 Comparison of fees charged by the Czech Environmental Inspection (CEI) and national accounts data (mil. CZK) 2001 2002 2003 2004 2005 2006 2007 2008 CEI 392 346 361 321 277 24 Eurostat, Czech Statistical Office (2011b), p. 1 25 Eurostat, Czech Statistical Office (2011b), p. 1 8

NA 484 487 492 430 383 304 403 242 Fees for the discharge of waste 2 water into surface water 1) Fees for the discharge of waste 0.292 0.739 1.054 0.47 0.696 2.407 water into ground water 2) 1) Source: NA 2) Source: Environmental statistical yearbook of the Czech Republic Source: Eurostat, Czech Statistical Office (2011a), p. 14 7 CONCLUSION Satellite accounts have been introduced in this paper. Importance of satellite accounts has been presented. Despite the obstacles with developing and sustaining satellite accounts, we recommend to compile them. We are convinced that satellite accounts allow us to study related social and economic phenomena much better then national accounts and subjectmatter statistics. We see as a challenge deepening of co-operation between official statistics and academic community; not just for compiling satellite accounts. In the Czech Republic two satellite accounts are compiled (Tourism Satellite Account and Satellite Account of Non-profit Organizations Serving Households) and experimental computations leading to possible future compilation of SEEA are performed. This year (2011) 12 tables of environmental taxes were published in co-operation of Eurostat and Czech Statistical Office. Experts say that compilation of satellite accounts is useful and important; therefore it is, in our opinion, good to continue with its broadening in the Czech Republic. Hopefully our country will move forward and satellite accounts will be a good topic for further research. REFERENCES 1. EUROSTAT (1998). European System of Accounts 1995. Luxembourg. 2. FISCHER, J., VLTAVSKÁ, K. (2011) National Accounts as a useful data source for competitiveness analysis including the ICT impact. Jindřichův Hradec 07.09.2011 09.09.2011. In: IDIMT-2011. Linz : Trauner Verlag universitat, 2011, p. 141 146. ISBN 978-3-85499-873-0. 3. HRONOVÁ, S., FISCHER, J., HINDLS, R., SIXTA, J. (2009). Národní účetnictví [National Accounts]. C.H. Beck, Praha. 4. OECD (2010). OECD Tourism Trends and Policies, ISBN: 9789264077423. 5. POFANTIS, A. Ő. (2008a). Satellite accounts sharpen the focus. SIGMA - The Bulletin of European Statistics, No. 03/08. Eurostat: Luxembourg, ISSN 1018-5739, p.32-35. 6. POFANTIS, A. Ő. (2008b). Environmental accounts A beautiful tool to study the links between the environment and the economy. SIGMA - The Bulletin of European Statistics, No. 03/08. Eurostat: Luxembourg, ISSN 1018-5739, p.36-38. 7. SIXTA, J., FISCHER, J. (2011). Retrospective Measures of GDP Using Input-output Tables for Former Czechoslovak. Alexandria 13.06.2011 17.06.2011. In: 19th International Input-Output Conference. [online] Alexandria: School of New Input-Output Analysis, 2011, s. 1 12. URL: http://www.iioa.org/files/conference-2/279.pdf. 8. SIXTA, J., FISCHER, J. (2009). Capital services and supply and tables compilation. Sao Paulo 13.07.2009 17.07.2009. In: 17th International Input-Output Conference. Sao Paulo : USP, 2009, p. 92. 9. Czech Statistical Office (2011) Satellite accounts. Online: http://apl.czso.cz/pll/rocenka/rocenkavyber.satelit_en [cit 25-10-2011] http://apl.czso.cz/pll/rocenka/rocenkavyber.satelit_cas?mylang=en&co=supl [cit 25-10-2011] http://www.czso.cz/eng/redakce.nsf/i/tourism_satellite_account_tables [cit 25-10-2011] http://apl.czso.cz/pll/rocenka/rocenkavyber.satelit_cas?mylang=en [cit 25-10-2011] 9

10. Eurostat, Czech Statistical Office (2011a). Eurostat Grant Agreement No. 50304.2008.001-2008.327, Czech Republic (Czech Statistical Office). Final technical report (Module 5.03.04 : Environmental accounts and environmental expenditure statistics Data Centres: National Resources and Products Environmental Tax). Online: http://circa.europa.eu/public/irc/dsis/pip/library?l=/environmental_expenditur/country_studies/projects_a warded_2008/08_cz_327_taxpdf/_en_1.0_&a=d [cit 09-08-2011] 11. Eurostat, Czech Statistical Office (2011b). Eurostat Grant Agreement No. 50304.2008.001-2008.327, Czech Republic (Czech Statistical Office). Summary (Module 5.03.04 : Environmental accounts and environmental expenditure statistics Data Centres: National Resources and Products Environmental Tax). Online: http://circa.europa.eu/public/irc/dsis/pip/library?l=/environmental_expenditur/country_studies/projects_a warded_2008/08_cz_327_sumpdf/_en_1.0_&a=d [cit 09-08-2011] 12. National archives UK. Household Satellite Account (HHSA). Online: http://webarchive.nationalarchives.gov.uk/20100406130654/statistics.gov.uk/statbase/product.asp?vlnk=9 338 [cit 25-10-2011] 13. OECD SHA. Online: http://www.oecd.org/health/sha [cit 25-10-2011] http://www.oecd.org/health/sha/implementation [cit 25-10-2011] 14. UN SEEA. Online: http://unstats.un.org/unsd/envaccounting/seea.asp [cit 25-10-2011] ACKNOWLEDGEMENT This paper has been prepared under the support of the Czech Science Foundation, project No. P 402/10/1275 Historical time series of GDP of the Czech Republic 1970-1990 and of the University of Economics, Prague, project No. 12/2011 Estimation of regional price levels. 10