FTGRN Webinar - Disaggregated Economic Account

We are happy to invite you to the next webinar of the Financial Transactions “Big Data” Global Research Network (FTGRN):

Disaggregated Economic Accounts by Asger Andersen (University of Copenhagen and CEBI), Kilian Huber (University of Chicago), Niels Johannesen (University of Oxford), Ludwig Straub (Harvard University), and Emil Toft Vestergaard (Danmarks Nationalbank)

Abstract: Disaggregated Economic Accounts proposes a new framework for measuring the economy by fully breaking down the national accounts into bilateral flows between groups of consumers, producers, the government, and the rest of the world. Using detailed bank transaction data and government registers for Denmark, the authors reconstruct the entire circular flow of money—capturing consumer spending, labor compensation, profits, taxes, and trade—while preserving all national accounting identities.

The disaggregated system reveals striking spatial and social patterns in economic linkages, such as “triangular flows” from rural to urban regions and systematic variation in domestic spending intensity across groups. By integrating the disaggregated data into a general equilibrium model, the authors demonstrate that fiscal transfers have stronger aggregate effects when targeted toward groups whose spending most benefits unemployed or “slack” parts of the economy—illustrating how detailed knowledge of economic linkages can enhance policy design.

This work offers a proof of concept for a new generation of national accounting systems—comprehensive, micro-founded, and policy-relevant—showing how transaction-level data can reshape our understanding of the macroeconomy.

We look forward to seeing you there!

Best regards,

FTGRN communication team