Present: Stephen Jenkins (Chair), Liv Hobbelstad Simpson (Immediate Past Chair), Andrea Brandoloni, Barbara Fraumeni, Karmen Hren, Markus Jantti, Jacques Magniez, Peter Saunders, Holly Sutherland, Peter Van de Ven, Mike McCracken, Andrew Sharpe (Executive Director)

The annual membership meeting took place via conference call immediately following the Council meting. It began at 10:10 AM EST and ended at 11:00 AM EDT. It was chaired by IARIW Chair Stephen Jenkins.

Approval of Minutes

Peter Van de Ven (seconded by Andrea Brandolini) proposed approval of the minutes of the annual membership meeting held August 23, 2006 in Joensuu, Finland. The proposal was accepted with unanimity.

Report of the Executive Director

Council members were referred to the Report of the Executive Director for an overview of the activities of the Association from August 1, 2006 to July 31, 2007. The highlights were the 29th General Conference held August 20-26 in Joensuu, Finland; the organization of the specialized conference on the measurement of income and wealth in transition economies for September 18-21, 2007 in Beijing, China; the approval of the Association’s application for charitable status under the Canadian Income Tax Act; and the continuation of a health financial picture.

Financial Issues

Treasurer Peter Van de Ven presented the 2006 audited financial statement. It showed net revenues of $121,491 (all figures are in US dollars) in 2006, up from $101,554 in 2005. Total expenditures were $264,918 in 2006, up from $206,741 in 2005 while total expenditures were $143,427, up from $105,187 in 2005. Net assets as of December 31, 2006 were $487,610. The improved financial position largely reflected increased income from Blackwell. Three minor changes to the draft audited financial statement, with no effect on net revenues, were noted: movement of expenditure on website development from the professional fees category to the website category; movement of the membership fees paid at the General Conference from conference income to individual membership fee income; and inclusion of both gains and losses on foreign exchange under revenues. Based on these changes Peter Van de Ven (seconded by Stephen Jenkins) proposed approval of the audited report, discharging the Executive Director from his duties in this regard. The proposal was accepted with unanimity.

Peter van de Ven proposed, seconded by Stephen Jenkins, that the firm Watson Folkins and Corey be again retained to undertake the IARIW audit for the 2007 fiscal year ending December 31, 2007. This motion was passed with unanimity.

IARIW-NBS Conference

Peter Saunders reported that the IARIW specialized conference “Experiences and Challenges in Measuring Income and Wealth in Transition Economies,” co-organized with the National Bureau of Statistics (NBS) of China, took place in Beijing, China September 18-21, 2007. About 60 non-Chinese economists from 20 countries and 60 Chinese economists attended the event. Peter reported that, by all accounts, the conference was a great success. The organization of the conference by the NBS was first rate and the sessions went well, with some excellent papers. As there was no registration fee for IARIW members, Peter thanked the NBS for its great generosity, which included a one-day excursion to the Great Wall and Forbidden city as well as excellent meals. Peter also thanked IARIW member Harry Wu for his important role in setting up the conference and coordinating relations between the NBS and the IARIW, and Bart van Art who gave the Angus Maddison’s keynote address at the conference. Illness prevented Professor Maddison from attending.

Peter announced that a special issue of the Review of Income and Wealth will be published based on selected papers from the conference. The issue will be edited by Peter Saunders and Harry Wu. The release date is early 2009. The issue will have the same standards of quality as a regular issue of the journal, with all submissions reviewed by a minimum of two anonymous referees.

2008 IARIW General Conference

The 30th IARIW General Conference will be held August 24-30, 2008 in Portoroz, Slovenia. Stephen Jenkins reported that a record 370 submissions had been received, indicating great interest in the conference. There are slots for 69 papers in the 13 thematic sessions (a maximum of six papers per session) and 60 papers in 10 submitted paper sessions, and an indeterminate number of papers in poster sessions. He reported that acceptance letters for the thematic sessions would be going out the week of October 8. The program committee would consider all remaining submissions, allocating papers to the submitted paper sessions, poster sessions, and a non-acceptance group. It was expected that this process would be completed by early November, with decisions relayed shortly thereafter. The preliminary program will be published in the December 2007 issue of the Review of Income and Wealth.

The Statistical Office of the Republic of Slovenia (SORS) is responsible for the organization of the 30th IARIW General Conference. Karmen Hren from SORS reported that arrangements for the conference are proceeding well. Stephen Jenkins will visit SORS in Ljubljana and the conference venue in Portoroz in November to finalize arrangements. The conference website is now posted and is linked to the IARIW home page. Registration information and the prices of the accommodation packages will be posted early in the new year.

IARIW Specialized Conference in 2009

Holly Sutherland reported that, because of a lack of interest on the part of potential organizers, the proposed specialized conference for 2009 on the definition of income would not take place. Stephen Jenkins indicated that it was important for the IARIW to have a conference in 2009 and that a call for suggestions or proposals from the membership would be made. He felt it would be a good idea to have the conference in a developing country, and to partner with a statistical office, as the IARIW had done with the NBS for the China conference.

Report of the Editors of the Review of Income and Wealth

Bart Van Ark tabled the annual report of the Managing Editors of the Review of Income and Wealth. He proposed that the Kendrick Prize for the best paper published in the Review in 2006 and 2007 be announced at the 2008 General Conference in Slovenia and that a committee chaired by Barbara Fraumeni select the winner. The proposal was accepted with unanimity. He also noted that the RIW Editorial Office would now only retain electronic documentation of referee reports and editorial correspondence, although a hard copy of the original submissions will be retained. The key issue related to the journal is the appointment of a third editor. The term would be concurrent with the term of the current Managing Editors, ending July 31, 2009. The editors have identified who they feel would be an appropriate candidate, but have been unable to reach him in recent weeks. If this person is interested in assuming the position, a formal nomination will be submitted to Council for approval. Any financial arrangements related to the appointment will also be submitted for approval.