ECONOMIC OUTLOOK DATABASE INVENTORY
EO87 - June 2010
Economic Outlook database inventory
TABLE OF CONTENTS
ECONOMIC OUTLOOK DATABASE INVENTORY .................................................................................1 1. INTRODUCTION....................................................................................................................................5 CHANGES FROM PREVIOUS ISSUES ...................................................................................................6 Changes implemented since the December 2009 issue of the OECD Economic Outlook. .........................6 National accounts ..................................................................................................................................... 6 New membership .....................................................................................................................................6 New aggregation method for OECD zones and non-OECD areas (May 2010) ...................................... 6 New non-OECD areas (May 2010) ..........................................................................................................6 Changes in sources (May 2010) ...............................................................................................................6 Previous changes.......................................................................................................................................... 7 OECD euro area definition in the Economic Outlook 86 (December 2009)............................................7 Introduction of the underlying fiscal balance (December 2008) .............................................................. 7 Non-member economies (December 2008, December 2009) ..................................................................7 Revised OECD supply-side estimates: a capital approach (June 2005, June 2009).................................7 Harmonisation of employment data and hours worked............................................................................8 Special note on the business sector (June 2005) ......................................................................................8 New source for unit labour Costs in the manufacturing sector (June 2007) ............................................8 Reference year and SNA/ESA Reporting system ........................................................................................8 Changes in the base year ....................................................................................................................9 2. CODE OF VARIABLES PRESENTED IN ECONOMIC OUTLOOK TABLES ................................ 10 Economic Outlook Annex Tables .......................................................................................................... 10 Wages, costs, unemployment and inflation .................................................................................... 10 http://www.oecd.org/document/48/0,2340,en_2649_201185_33702064_1_1_1_1,00.html ............. 10 Fiscal balances and public indebtedness......................................................................................... 11 http://www.oecd.org/document/25/0,2340,en_2649_201185_33702745_1_1_1_1,00.html ............. 11 Interest rates and exchange rates .................................................................................................... 11 http://www.oecd.org/document/47/0,2340,en_2649_201185_33702831_1_1_1_1,00.html ............. 11 External trade and payments .......................................................................................................... 11 http://www.oecd.org/document/7/0,2340,en_2649_201185_33702855_1_1_1_1,00.html#t_38#t_3811 Other background data ....................................................................................................................12 http://www.oecd.org/document/46/0,2340,en_2649_201185_33702958_1_1_1_1,00.html ............. 12 3.1. Expenditures and GDP ................................................................................................................... 13 3.1.1. Volumes................................................................................................................................. 13 3.1.2. Values .................................................................................................................................... 15 3.1.3. Investment ............................................................................................................................. 15 3.2. Supply block .................................................................................................................................... 17 3.2.1. Core ....................................................................................................................................... 17 3.2.2. Values of supply block coefficients...................................................................................... 19 2
Economic Outlook database inventory
3.3. Labour market ................................................................................................................................. 20 Employment, labour force, unemployment ...........................................................................20 3.3.1. 3.3.2. Wage rates ............................................................................................................................. 21 3.4. Households appropriation account ................................................................................................. 21 3.5. Government appropriation account, not cyclically-adjusted .......................................................... 23 3.5.1. Current government revenues ................................................................................................ 23 3.5.2. Current government outlays .................................................................................................. 24 3.5.3. Government capital account and deficits............................................................................... 25 3.6. General government cyclically-adjusted and underlying financial balances ................................. 26 3.7 Government debt .............................................................................................................................31 3.8 Interest rates, exchange rates and monetary aggregates ................................................................ 31 3.9 External sector ................................................................................................................................ 31 3.9.1. Trade volumes (NBASE=2005) ............................................................................................ 31
Values_of_tax_and_outlays_elasticities ................................................................................ 30
3.9.2. Trade prices (NBASE=2005) ................................................................................................ 32 3.9.3. Trade values (USD) ............................................................................................................... 33 3.9.4. Current account of the balance of payments.......................................................................... 33 3.9.5 Competitiveness indicators ........................................................................................................ 35 4. DESCRIPTIONS.................................................................................................................................... 37 4.1. All variables .................................................................................................................................... 37 4.2 Country-specific variables ..............................................................................................................43 5. DATA SOURCES .................................................................................................................................. 45 6. COUNTRY AND REGIONS CODES................................................................................................... 46 6.1. Country code, Country,Weight National currency and its respective ISO code July 2009 ....... 46 6.2. OECD and non-OECD region codes .........................................................................................48 OECD, EA13 and G7M: change in data availability ..........................................................................48 7. REGIONAL AGGREGATES ................................................................................................................ 49 8. KEY INTERNATIONAL AGGREGATES .......................................................................................... 50 8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8 8.9 8.10 7.11 8.12 8.13 Export market for goods and services, volume, US$, 2005 prices (XMKT) .................................50 Price of non commodity exports (imports) of goods and services, (PXGSX (PMGSX)) ............ 50 Shadow Price of non-commodities goods and services imports (PMSHX) ................................... 50 Competitor’s prices of non commodity goods and services exports (PXCX) ............................... 51 Competitor’s prices of goods and services exports (PXC) ............................................................ 51 Consistency adjustment series for non-factor services exports, volume ........................................51 World prices, Goods and services, USD .......................................................................................52 RAS adjustment series imports prices............................................................................................ 52 Nominal effective exchange rate, constant trade weights .............................................................. 52 Goods and services trade volume, USD , 2005 prices(TGSVD) ..............................................52 Share of country’s trade in the world trade (SHTGSVD) ........................................................ 52 Contribution to world trade volume (CTGSVD) ...................................................................... 52 Shares in world exports (XSHA) and imports (MSHA) .......................................................... 53 9. ELECTRONIC DATA PRODUCTS BASED ON THE OUTLOOK DATABASE ............................. 53 9.1. OECD.Stat: the OECD Data Warehouse ...................................................................................53 9.2. Structure of the Economic Outlook database in OECD.Stat ..................................................... 54 Dimension ........................................................................................................................................... 54 Units.................................................................................................................................................... 54 3
Economic Outlook database inventory
Metadata ............................................................................................................................................. 54 9.3 Contact ............................................................................................................................................. 54 4
Economic Outlook database inventory
INTRODUCTION 1
1.
This document describes in detail the OECD Economic Outlook database. It provides the codes and
descriptions of all variables, country codes, and definitions and relations between variables. It is
supplementary to the document on the Sources and Methods of the Economic Outlook
www.oecd.org/eco/Economic_Outlook .
The Outlook database is a comprehensive and consistent macroeconomic database of the OECD
economies, covering expenditures, foreign trade, output, employment and unemployment, interest and
exchange rates, balance of payments, outlays and revenues of government and of households, and
government debt. For the non-OECD regions, foreign trade and current account series are available.
The database contains yearly and quarterly data when relevant over the historical and projection periods,
for OECD counties and OECD regions. Quarterly series are seasonally adjusted. Variables are defined in
such a way that they are as homogenous as possible over the countries. Breaks in underlying series are
corrected as far as possible. Sources for the historical data are publications of national statistical agencies
and OECD statistical publications such as the Quarterly National Accounts, the Annual National Accounts,
the Annual Labour Force Statistics and the Main Economic Indicators.
The next section gives by table and by figure the codes of variables presented in the Economic Outlook.
Section 3 provides definitions and relations between the variables. Section 4 contains in alphabetical order
descriptions of the variables, for the database as a whole as well as by subject. Information on the data
sources is provided in Section 5. Section 6 gives the codes of OECD countries, OECD regions and nonOECD regions. Section 7 describes the way regional aggregates are calculated and the availability of such
aggregates. The final section gives the variables available on OECD electronic data products related to the
Economic Outlook. The major part of the database is available on two data products:
1
•
Economic Outlook Database in OECD.Stat
•
Concurrent with the publication of the preliminary version of the Economic Outlook on the web,
a file (EO Flashfile) containing the forecasts can be downloaded free of charge at
www.oecd.org/dataoecd/18/26/2713584.xls or
www.oecd.org/statisticsdata/0,2643,fr_2649_33733_1_119656_1_1_1,00.html. Data for key
macroeconomic variables are presented for all OECD countries and regions in Excel format, and
can be input directly into most statistical and analytical software.
Document produced by the Macro-Economic Analysis Division (MAD) of the Economics Department of
the OECD.
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CHANGES FROM PREVIOUS ISSUES
Changes implemented since the December 2009 issue of the OECD Economic Outlook.
National accounts
Since the latest issues of the OECD Economic Outlook, the Australian Bureau of Statistics has implemented
the system of National Accounts 2008 (SNA08). Moreover, some countries have undertaken large revisions in
their national accounts series based on SNA93/ESA95, revised their seasonal adjustment techniques or extended
the series in the past. All changes available before the cut-off date for information used in the compilation of the
projections (18 may 2010) have been taken into account in the Analytical Data Base of the Economics Department
of the OECD Secretariat.
The following treatments applied to national data, when necessary, are :
•
Retropolation of series: For historical periods where the NSIs do not provide revised data, data have
been spliced backward using the growth rates issued from the previous (unrevised) national accounts
•
Treatment of chained volume measures: Tthe computation of chained volume measures have been
introduced over the forecast period for most of the countries and the level of a particular volume
aggregate is no longer the simple summation of the level of its components. Contributions to changes
in real GDP, shown in the OECD Economic Outlook Annex table, but not included in this product,
have been based on a Laspeyres chain-type aggregation: the stock building contribution is computed
as the weighted difference between the growth of real gross capital formation (investment including
changes in inventories) and the growth of real gross fixed capital formation (investment excluding
changes in inventories), the weights reflecting the share of the different components of GDP at
current prices in the previous period; similarly, the net trade contribution is computed as the
weighted difference between the growth of real exports and the growth of real imports, the weights
reflecting the share of the different components in GDP at current prices in the previous period.
New membership
In May 2010 Chile joined the OECD and is now included in the OECD zone when data are available.
New aggregation method for OECD zones and non-OECD areas (May 2010)
See below regional aggregates
New non-OECD areas (May 2010)
See below regional aggregates
Changes in sources (May 2010)
Austria: unemployment (UN), employment (ET), and labour force (LF) data are compiled from the
results of the Quarterly Household Labour Force Survey.
Finland: the non-profit institutions serving households sector is included in the household sector data
Austria, Japan, Switzerland: compensation of employees series are based on the quarterly national
accounts.
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Previous changes
OECD euro area definition in the Economic Outlook 86 (December 2009)
The euro area data included in the data base refer to the OECD countries which are member of the
euro area as of 1 January 2009.
Introduction of the underlying fiscal balance (December 2008)
Frequent recourse to large one-off operations in a number of OECD countries has undermined the
accuracy of cyclically adjusted fiscal balance as a measure of both the sustainability of public finance and
the fiscal stance. To overcome this problem, the Economic Outlook data base now includes a new
indicator, the underlying fiscal balance, which effectively eliminates the impact of one-offs and cyclical
developments. One-offs are derived as the deviations from trend in net capital transfers, i.e. from widely
available national account data. This approach provides a consistent treatment of one-offs both across
countries and over time, avoiding the potential information biases which could result from an individual
identification of one-offs (for more details, see the OECD Economic Department working Paper:
ACCOUNTING FOR ONE-OFF OPERATIONS WHEN ASSESSING UNDERLYING FISCAL
POSITIONS.
Non-member economies (December 2008, December 2009)
Since December 2008 (Economic Outlook 84) the database includes some historical and forecasted
data
for
Estonia,
Israel
and
Slovenia.
With the December 2009 release, key indicators for Chile, the Russian Federation, Brazil, China, India,
Indonesia and South Africa have been incorporated
Please note that the statistical data for Israel are supplied by and under the responsibility of the
relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the
Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international
law.
Revised OECD supply-side estimates: a capital approach (June 2005, June 2009)
With the Economic Outlook 79 and Economic Outlook 85, the OECD Economics Department took
the opportunity to review and revise its methods for estimating potential GDP. 2 The revised method
continues to use a production function-based approach that is broadly similar to the business sector
framework that the OECD has traditionally used, 3 with the following important differences.
2.
A more detailed account of the revised methods for estimating potential and output gaps, and their use in medium-term assessment is
given by Beffy, P.-O., P. Ollivaud, P. Richardson and F. Sédillot, .New OECD methods for supply side and medium-term assessments: a capital
services approach., OECD Economics Department Working Papers, No. 482
(www.olis.oecd.org/olis/2006doc.nsf/linkto/ECO-WKP(2006)20).
[2]
General background to the development of the former business sector methods is given by Giorno, C.,P. Richardson, D. Roseveare and P. van
den Noord, .Estimating potential output, output gaps and structural budget balances., OECD Economic Department Working Papers, No. 152, 1995
(www.oecd.org/dataoecd/32/52/1863308.pdf).
3.
A general background to the OECD capital services estimates and the methodologies involved are given by Schreyer, P., .Capital
stocks, capital service and multi-factor productivity measures (www.oecd.org/dataoecd/12/37/34563443.pdf), OECD Economic Studies, No. 37,
2003/2, Dean, E. and M. Hopper, .The BLS productivity measurement program., Bureau of Labour Statistics, February 1998 and by Timmer, M.,
G. Ypma and B. van Ark, .IT in the European Union: Driving productivity divergence?., GGDC Research Memorandum GD-67, October 2003.
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The method makes specific use of the OECD estimates of capital services, which take better
account of the flow of productive uses of different non-residential capital assets with different age
efficiency profiles. In particular, these estimates take explicit account of the relative marginal products of
different types of capital goods and thereby provide a good guide to the input of capital in production.
With EO85, changes in capital services over time are no longer smoothed for estimating the path
of potential GDP. This reflects the view that capital services are more closely related to the potential of the
capital stock to produce goods and services, so smoothing becomes unnecessary. For the projection period,
since significant change in long term unemployment is expected, potential employment has also been
adjusted to reflect changes in structural unemployment (as outlined in Annex 1.1 of Economic Outlook
86).
The new estimates are based on a total economy (as opposed to a business-sector approach), reflecting
both the coverage of available capital services data and the current lack of consistent business sector data
across Member countries.
Harmonisation of employment data and hours worked
Two sets of data now coexist: one based on the labour force surveys (total employment (ET) and
unemployment (UN)), and the other based on the quarterly national accounts, domestic concept (total
employment (ET_NA)). The relevant source is given in the document http://www.oecd.org/eco/sourcesand-methods .
Hours worked are extracted from the OECD Productivity database. For information on this
measure, see http://www.oecd.org/topicstatsportal/0,2647,en_2825_30453906_1_1_1_1_1,00.html
Special note on the business sector (June 2005)
Prior to the EO79 release, the Economic Outlook projections and database included a number of business
sector variables based on OECD in-house estimates that drew on available national accounts statistics from
national sources. Recent changes in national accounts methodology and the unavailability of official business
sector data for a large number of countries make these estimates increasingly difficult to maintain on a consistent
basis. For this reason, and pending improvements in availability of business sector statistics from official sources,
the following variables have been suspended from the OECD Economic Outlook data set: GDPBV, ULCB,
PROD)
New source for unit labour Costs in the manufacturing sector (June 2007)
With the Economic Outlook 81, unit labour costs in the manufacturing sector are based on the OECD
Statistics Directorate database. More information on data sources and the methodology used can be
accessed at http://dotstat/wbos/default.aspx?DatasetCode=ULC_QUA .
Reference year and SNA/ESA Reporting system
The cut-off date for information used in the newest Economic Outlook database (EO87) projections
is the 18 May 2010. The following table, National account reporting systems, base years and latest data
updates, shows the status of national accounts in the OECD countries that were used in the present edition.
The periods in brackets indicate the latest available historical data for the current national accounts version
included in this newest Outlook database.
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For several countries, some historical data have been estimated by the OECD Economics Department;
if countries revise their methodologies but only supply revised data for recent years, the historical data are
estimated by mechanically linking the new and old series . Prior to the first year for which actual historical
data are available, data have been spliced backward using the growth rates issued from the previous
national accounts. The starting point for the projections is the last available year/period +1. When quarterly
data are available, those series are indicated with the symbol “q”; otherwise quarterly series are
interpolated from the annual.
Changes in the base year
Australia
Norway
Sweden
2007/2008
2007
2008
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CODE OF VARIABLES PRESENTED IN ECONOMIC OUTLOOK TABLES
2.
This section presents the Annex Tables and shows the codes of the variables presented. In some tables the
data are external to Economic Outlook databases and, in such cases, the corresponding variable cannot be
shown.
Economic Outlook Annex Tables
Economic Outlook Annex
Nr.
Title
Contains the following variables:
1
Notes to statistical Annex Tables, Sources and Methods of
the OECD Economic Outlook
Real GDP
http://www.oecd.org/document/22/0,2340,en_2649
_201185_33702486_1_1_1_1,00.html
GDPV
2
Nominal GDP
GDP
3
Real private consumption expenditure
CPV
4
Real public consumption expenditure
CGV
5
Real total gross fixed capital formation
ITV
6
Real gross private non-residential fixed capital formation
IBV
7
Real gross residential fixed capital formation
IHV
8
Real total domestic demand
TDDV
9
10
Foreign balance contributions to changes in real GDP
Output gaps 4
Secretariat’s calculations
GAP
Wages, costs, unemployment and inflation
http://www.oecd.org/document/48/0,2340,en_2649_201
185_33702064_1_1_1_1,00.html
11
12
Compensation per employee in the private sector
Labour productivity, total economy
WSSE
PDTY
13
Unemployment rates: commonly used definitions
UNR
14
Standardised unemployment rates
15
Labour force, employment and unemployment
Not available in Outlook database. Source: OECD
Monthly Economic Indicators / Main Economic
Indicators
LF, ET, UN
16
GDP deflators
PGDP
17
Private consumption deflators
PCP
18
Consumer prices indices
19
Oil and other primary commodity markets
CPI for non-Euro zone OECD countries and CPIH
only for Euro zone countries.
OILCON, OILSUP, OILXNT, WPBRENT,
WPHAMD, WPHD, WPHFBD, WPHFD,
WPHMMD, WPHTBD, WPOIL
http://www.oecd.org/document/9/0,2340,en_2649_201
Key Supply Side data
4
The estimated gaps are subject to significant margins of error.
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185_33702089_1_1_1_1,00.html
20
Employment rates, participation rates and labour force
ET/POPT, LF/POPT, LF
21
Potential GDP, employment and capital stock
GDPVTR, ET, KTV
22
Structural unemployment and unit labour costs
NAIRU, ULC
Saving
http://www.oecd.org/document/34/0,2340,en_2649_20
1185_33702242_1_1_1_1,00.html
SRATIO, SRATIO_G
23
Household saving rates
24
Gross national saving
Not available in Outlook database. Source: OECD
National accounts
Fiscal balances and public indebtedness
http://www.oecd.org/document/25/0,2340,en_2649_201
185_33702745_1_1_1_1,00.html
25
General government total outlays
YPGTQ
26
General government total tax and non-tax receipts
YRGTQ
27
General government financial balances
28
General government cyclically-adjusted balances
NLGQ (Balances excluding social security are not
available in Outlook database)
NLGQA
29
General government underlying balances
NLGQU
30
General government underlying primary balances
NLGXQU
31
General government net debt interest payments
GNINTQ
32
General government gross financial liabilities
GGFLQ
33
General government net financial liabilities
GNFLQ
Interest rates and exchange rates
http://www.oecd.org/document/47/0,2340,en_2649_201
185_33702831_1_1_1_1,00.html
34
Short-term interest rates
IRS
35
Long-term interest rates
IRL
36
Nominal exchange rates (vis-à-vis the US dollar)
EXCHUD
37
Effective exchange rates
EXCHEB
External trade and payments
http://www.oecd.org/document/7/0,2340,en_2649_2011
85_33702855_1_1_1_1,00.html#t_38#t_38
38
Export volumes of goods and services, USD, 2005 prices
XGSVD
39
Import volumes of goods and services
MGSVD
40
Export prices of goods and services
PXGS
41
Import prices of goods and services
PMGS
42
Competitive positions: relative consumer prices
CPIDR
43
Competitive positions: relative unit labour costs
ULCMDR
44
Export performance for total goods and services
XPERF
45
Shares in world exports and imports
XSHA, MSHA
46
Geographical structure of world trade growth
TGSVD, CTGSVD
47
Trade balances for goods and services
FBGSD
48
Investment income, net
BSIID
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49
Total transfers, net
NTRD
50
Current account balances
CBD
51
Current account balances as a percentage of GDP
CBGDPR
52
Structure of current account balances of major world regions
FBGSD, BSIID, NTRD, CBD
53
Export markets growth in goods and services
XMKT
54
Import penetration
MPEN
Other background data
http://www.oecd.org/document/46/0,2340,en_2649_201
185_33702958_1_1_1_1,00.html
55
Quarterly demand and output projections
CPV, CGV, IBV, ITV, TDDV, XGSV, MGSV, GDPV
56
Quarterly price, cost and unemployment projections
CPI, CPIH, PGDP, ULC, UNR
57
Contributions to changes in real GDP in OECD countries
Secretariat’s calculations
58
Household wealth and indebtedness
59
House prices
60
House price ratios
61
Central government financial balances
Not available in the data base. Sources: Canada: Statistics
Canada; France: INSEE; Germany: Deutsche Bundesbank
Italy: Banca d'Italia; Japan: Economic Planning Agency;
United Kingdom: Office for National Statistics; United
States: Federal Reserve.
Not available in the data base. Source: Various national
sources and Nomisma, see table A.1 in Girouard, N., M.
Kennedy, P. van den Noord and C. André, “Recent house
price developments: the role of fundamentals”, OECD
Economics Department Working Papers, No. 475, 2006
and OECD estimates.
Not available in the data base. Source: Various national
sources and Nomisma, see table A.1 in Girouard, N., M.
Kennedy, P. van den Noord and C. André, “Recent house
price developments: the role of fundamentals”, OECD
Economics Department Working Papers, No. 475, 2006
and OECD estimates.
NLGC
62
Maastricht definition of general government gross public debt
GGFLMQ
63
Monetary and credit aggregates: recent trends
Not available in the data base. Source: OECD Main
Economic Indicators, Bank of Japan, Cansim, ECB.
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3.
Definition of variables
Definitions of variables and the relations between variables are presented by mathematical expressions
between variable codes. These expressions are identities and hold therefore exactly. Not presented are
behavioural relations between variables and other non-identities.
The identities are shown at an annual level. Some identities are slightly different on a quarterly level.
Most identities are identical for all OECD countries. In case of differences, the identity holding for most
countries is given first, followed by the diverging identity and the countries for which it is relevant.
The base year is relevant for some identities. There are two kinds of base years:
3.1.
•
Country-specific base-years, relevant for volume and price series for expenditures and GDP (see
for current base year section 6.1). These base years are presented in the identities as ‘base year’.
•
Not country-specific base year, relevant for trade series and other series comparable over
countries. This base year is 2005 in the current database and is presented in the identities as
‘overall base year’.
Expenditures and GDP
3.1.1. Volumes
FDDV = CPV+ CGV+ ITV
FDDV[T-1] * (1+PCT ($CHAINLINK2 ({CP, CG, IT},
LASQ, MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDFDDV)
FDDV = FDDV[T-1] * (1+PCT ($CHAINLINK2 ({CP, CG,
IT}, LASY, MAKEDATE (QUARTER,BYEAR,4))) / 100 +
CQ_SDFDDV)
FDDV = FDDV[T-1] * (1 + PCT ($CHAINLINK2 ({CP,
CG, IT}, LASQ4, MAKEDATE (QUARTER, BYEAR,4))) /
100 + CQ_SDFDDV)
FDDV = FDDV[T-1] * (1 + PCT ($CHAINLINK2 ({CP,
CG, IT}, LASY, 1996Q1)) / 100 + CQ_SDFDDV)
TDDV = GDPV-XGSV+MGSV
AUS, CHL, EA12, EA13,
GBR, GRC, IDN, MEX,
PRT, ZAF
AUT, CAN, USA
BEL, CHE, CZE, DEU,
DNK, ESP, EST, FIN, FRA,
HUN, IRL, ISL, ISR, ITA,
KOR, LUX, NLD, NOR,
POL, SVK, SVN, SWE, TUR
JPN
NZL
ARG, BRA, CHL, CHN,
DAE, EA12, EA13, IDN,
IND, MEX, OIL, PRT, ROW,
RUS, SAU
AUS, GBR, GRC, ZAF
TDDV = CPV+CGV+ITISKV
TDDV = (TDDV)-4 THEN TDDV[T-1] * (1 +
PCT($CHAINLINK2 ({CP, CG, ITISK}, LASQ,
AUT, CAN
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MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDTDDV)
TDDV = (TDDV)-4 THEN TDDV[T-1] * (1 + PCT
($CHAINLINK2 ({CP, CG, ITISK}, LASY, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDTDDV)
TDDV = (TDDV)-4 THEN TDDV[T-1] * (1 +
PCT($CHAINLINK2 ({CP, CG, ITISK}, LASQ4,
MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDTDDV)
TDDV = (TDDV)-4 THEN TDDV[T-1] * (1 + PCT
($CHAINLINK2 ({CP, CG, ITISK},
LASY,1996Q1))/100+CQ_SDTDDV)
TDDV = (TDDV)-4 THEN TDDV[T-1] * (1 + PCT
($CHAINLINK2 ({GDP, MGS, XGS}, LASQ, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDTDDV)
GDPV = (GDPV)-4 THEN GDPV[T-1] * (1 + PCT (CPV +
CGV + ITISKV + XGSV –N.MGSV) / 100 + CQ_SDGDPV)
GDPV = (GDPV)-4 THEN GDPV[T-1] * (1 + PCT
($CHAINLINK2 ({CP, CG, ITISK, XGS, N.MGS}, LASQ,
MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDGDPV)
GDPV = (GDPV)-4 THEN GDPV[T-1] * ( 1 + PCT
($CHAINLINK2 ({CP, CG, ITISK, XGS, N.MGS}, LASY,
MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDGDPV)
GDPV = (GDPV)-4 THEN GDPV[T-1] * (1 + PCT
($CHAINLINK2 ({ CP, CG, ITISK, XGS, N.MGS}, LASY,
MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDGDPV)
GDPV = (GDPV)-4 THEN GDPV[T-1] * (1 + PCT
($CHAINLINK2 ({CP CG ITISK, XGS, N.MGS}, LASY,
MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDGDPV)
GDPV = (GDPV)-4 THEN GDPV[T-1] * (1 + PCT
($CHAINLINK2 ({CP, CG, ITISK, XGS, N.MGS},LASQ4,
MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDGDPV)
GDPV = (GDPV)-4 THEN GDPV[T-1] * (1 + PCT
($CHAINLINK2 ({CP, CG, ITISK, XGS, N.MGS}, LASY,
1996Q1)) / 100 + CQ_SDGDPV)
NITV = XNITV*( GDPVCGW/ PCGW)
NITV = XNITV*( GDPCSA-
BEL, CHE, CZE, DEU,
DNK, ESP, EST, FIN, FRA,
HUN, IRL, ISL, ISR, ITA,
KOR, LUX, NLD, NOR,
POL, SVK, SVN, SWE, TUR
JPN
NZL
USA
AUS, GBR, GRC, IDN,
MEX, PRT
AUT, CAN, USA
BEL, DNK, ESP, FIN, HUN,
IRL, ISL, KOR, LUX, NLD,
POL, SVK, TUR
CHE, CZE, DEU, FRA, ISR,
ITA, NOR, SVN, SWE
EST
JPN
NZL
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, MEX, NLD, NOR, POL, PRT, SVK,
SWE, TUR, USA
NZL
14
Economic Outlook database inventory
CGW/ PCGW)
3.1.2. Values
GDP = PGDP * GDPV
3.1.3.
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN,
CZE, DAE, DEU, DNK, ESP, EST, FIN, FRA, GBR, GRC,
HUN, IDN, IND, IRL, ISL, ISR, ITA, JPN, KOR, LUX,
MEX, NLD, NOR, NZL, OIL, POL, PRT, ROW, RUS,
SAU, SVK, SVN, SWE, TUR, USA, ZAF
Investment
IBV = ICNHV+ IMEQV+ ICSA+ IGBV
AUS
IBV = (IBV)-4 THEN IBV[T-1] * (1 + PCT
($CHAINLINK2 ({IT, N.IG, N.IH}, LASQ, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDIBV)
IBV = (IBV)-4 THEN IBV[T-1] * (1 + PCT
($CHAINLINK2 ({IC, IMEQ, N.IH, N.IG}, LASY,
MAKEDATE (QUARTER, BYEAR,4))) / 100 +
CQ_SDIBV)
IBV = ITV
AUT
IBV = (IBV)-4 THEN IBV[T-1] * (1 + PCT
($CHAINLINK2 ({IT, N.IG, N.IH}, LASY, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDIBV)
IBV = ITV - IGV – IHV
DEU, ITA
IBV = (IBV)-4 THEN IBV[T-1] * (1 + PCT
($CHAINLINK2 ({IT, N.IG, N.IH}, LASY, MAKEDATE
(QUARTER, BYEAR,4)))/100+CQ_SDIBV)
IBV = (IBV)-4 THEN IBV[T-1] * (1 + PCT
($CHAINLINK2 ({ IT, N.IG, N.IH, IHG}, LASY,
MAKEDATE (QUARTER, BYEAR,4)))/100+CQ_SDIBV)
IRL
IPV = IHV+ IBV
AUS, EA12, EA13, GBR,
GRC
AUT, CAN, USA
IPV = (IPV)-4 THEN IPV[T-1] * (1 + PCT
($CHAINLINK2 ({IB, IH}, LASQ, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDIPV)
IPV = (IPV)-4 THEN IPV[T-1] * (1 + PCT
($CHAINLINK2 ({IB, IH}, LASY, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDIPV)
IPV = IBV
CHE
CZE, HUN, LUX, POL
EA12, EA13
KOR
BEL, CHE, DNK, ESP, FIN,
FRA, IRL, ISL, ITA, NLD,
NOR, SWE
CZE, HUN, LUX, POL
IPV = (IPV)-4 THEN IPV[T-1] * (1 + PCT
($CHAINLINK2 ({IB, IH}, LASQ4, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDIPV)
15
DEU, JPN
Economic Outlook database inventory
IPV = (IPV)-4 THEN IPV[T-1] * (1 + PCT
($CHAINLINK2 ({IB, IH, N.IHG}, LASY, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDIPV)
IPV = (IPV)-4 THEN IPV[T-1] * (1 + PCT
($CHAINLINK2 ({IB, IH}, LASY, 1996Q1)) / 100 +
CQ_SDIPV)
IPV = ITV- IGV
KOR
IPV = (IPV)-4 THEN IPV[T-1] * (1 + PCT
($CHAINLINK2 ({IPC, IPMEQ}, LASY, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDIPV)
TUR
ITV = IGV+ IPV
AUS, GBR, GRC
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT
($CHAINLINK2 ({IC, IMEQ}, LASQ, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDITV)
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT
($CHAINLINK2 ({IP, IG}, LASY, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDITV)
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT ($CHAINLINK2
({IP, N.IG}, LASQ, MAKEDATE (QUARTER,
BYEAR,4))) / 100 + CQ_SDITV)
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT
($CHAINLINK2 ({IC, IMEQ}, LASY, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDITV)
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT
($CHAINLINK2 ({IC, IMEQ}, LASQ4, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDITV)
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT
($CHAINLINK2 ({IB, N.IG, IH}, LASQ4, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDITV)
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT
($CHAINLINK2 ({IP, IG}, LASY, 1996Q1)) / 100 +
CQ_SDITV)
ITV = (ITV)-4 THEN ITV[T-1] * (1 + PCT
($CHAINLINK2 ({IP , IG}, LASQ, MAKEDATE
(QUARTER, BYEAR,4))) / 100 + CQ_SDITV)
AUT
NZL
PRT
BEL, CHE, DNK, FIN, FRA,
IRL, ITA, NLD, NOR, SWE,
TUR
CAN
CZE, ESP, EST, KOR, POL,
SVN
DEU
JPN
NZL
USA
PIB = IB / IBV
CHE, EA12, IRL, ITA, KOR
PIT = IT/ ITV
AUS, AUT, BEL, CAN, CHE, DEU, DNK, EA12, EA13, ESP,
FIN, FRA, GBR, GRC, IRL, ISL, ITA, JPN, KOR, NLD, NOR,
NZL, SWE, USA
16
Economic Outlook database inventory
3.2.
Supply block 5
3.2.1. Core
LFS = LFPRS*POPTS/100
LFS = LFPRS*POPT/100
USA
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, ESP, FIN, FRA,
GBR, GRC, HUN, IRL, ISL, ITA, JPN, KOR, LUX, MEX, NLD,
NOR, NZL, POL, PRT, SVK, SWE, TUR
GDPVTR =
AUS, BEL, CAN, CHE, DEU, DNK, ESP, FIN, FRA,
(ETPT*ELEFF2*HRST)**XTAU*
GBR, GRC, HUN, IRL, ITA, JPN, NLD, NOR, NZL,
KTVS**(1-XTAU)
POL, SWE, USA
GDPVTR =
AUT, PRT
(ETPT*ELEFF2)**XTAU*KTVS**(1-XTAU)
CZE, ISL, KOR, LUX, MEX, SVK, TUR
GDPVTR = TRPDTY*ETPT
GAP = ( GDPV/ GDPVTR-1.)*100
GAP = (GDPMLV/GDPVTR-1)*100
GAP = (GDPCSA/GDPVTR-1.)*100
IFU3 = GDPVTR / GDPV
IFU3 = GDPVTR/GDPMLV
IFU3 = GDPVTR/GDPCSA
GDPTR = GDP * IFU3
5
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK,
EA12, EA13, ESP, FIN, FRA, GBR, GRC, HUN,
IRL, ISL, ITA, JPN, KOR, LUX, MEX, NLD,
POL, PRT, SVK, SWE, TUR, USA
NOR
NZL
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK,
EA12, EA13, ESP, FIN, FRA, GBR, GRC, HUN,
IRL, ISL, ITA, JPN, KOR, LUX, NLD, POL, PRT,
SVK, SWE, USA
NOR
NZL
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13, ESP,
FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA, JPN, KOR, LUX,
See also:
Giorno, C., P. Richardson, D. Rosevaere and P. Van den Noord (1995), ‘Estimating potential output,
output gaps and structural budget balances’, OECD Economics Department Working Paper 152
www.oecd.org/dataoecd/32/52/1863308.pdf .
Giorno, C. and W. Suyker (1997), ‘Les estimations de l’écart de production de l’OCDE’, Économie
Internationale, No. 69, pp. 109-134
17
Economic Outlook database inventory
GDPTR = GDPML*IFU3
NLD, NZL, POL, PRT, SVK, SWE, USA
NOR
LFS = LFPRS*POPT/100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, ESP, FIN, FRA,
GBR, GRC, HUN, IRL, ISL, ITA, JPN, KOR, LUX, MEX, NLD, NOR,
NZL, POL, PRT, SVK, SWE, TUR
LFS = LFPRS*POPTS/100
USA
18
Economic Outlook database inventory
3.2.2.
Values of supply block coefficients
Country
United States
Japan
Germany
France
Italy
United Kingdom
Canada
Australia
Austria
Belgium
Czech Republic
Denmark
Finland
Greece
Hungary
Iceland
Ireland
Italy
Korea
Luxembourg
Mexico
Netherlands
New Zealand
Norway
Poland
Portugal
Slovak Republic
Spain
Sweden
Switzerland
Turkey
XTAU
0.6828
0.736
0.6494
0.7087
0.6663
0.7225
0.6973
0.6696
0.7222
0.7067
0.5731
0.6936
0.6988
0.5952
XNITV
0.724
0.6836
0.6663
0.8377
0.1918
0.6892
0.6224
0.5909
0.6094
0.7746
0.6672
0.7025
0.6798
19
0.1207
0.118
0.0408
Economic Outlook database inventory
3.3.
Labour market
3.3.1. Employment, labour force, unemployment
ES = ET- EE
ES = ET_NA-EE
AUS, DNK, ISL, JPN, KOR, MEX, NOR, POL, PRT, TUR
AUT, BEL, CHE, CZE, ESP, FIN, FRA, HUN, IRL, ISR, ITA,
LUX, NLD, SVK, SVN, SWE, USA
ETB = EEP+ ES
AUS, AUT, BEL, CHE, CZE, DEU, DNK, EA12, EA13, ESP,
FIN, FRA, GRC, HUN, IRL, ISL, ISR, ITA, JPN, KOR, LUX,
MEX, NLD, NZL, POL, PRT, SVK, SVN, SWE, TUR, USA
NOR
ETB = EEP+ES-ECSA
EE = EEP+ EG
AUT, CAN, DEU, DNK, EA12, EA13, ESP, FIN, GBR, GRC,
NZL, SWE, USA
ET = ET_NA/CLF
AUT, CZE, DEU, DNK, ESP, FRA, HUN, IRL, ISR, ITA, LUX,
NLD, SVK, SWE, USA
CAN, GRC, ISL, KOR, MEX, PRT
CHE, FIN, GBR
ET = ES + EE
ET = (100-UNR)/100*LF
ET_NA = (100 - UNR) / 100 *
LF * CLF
ESP, HUN, IRL, LUX, NLD
CLF=ET_NA/ET
BEL
UN = LF- ET
AUS, AUT, BEL, CAN, CHE, CHL, CZE, DEU, DNK, ESP,
FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA, JPN, KOR,
LUX, MEX, NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE,
TUR, USA
UNR = UN*100.0/ LF
AUS, BEL, CAN, CHL, CZE, DEU, DNK, EA12, EA13, FRA,
GBR, GRC, ISR, ITA, JPN, NOR, NZL, POL, SVK, SVN,
SWE, TUR, USA
LFPR = LF/POPT*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA, JPN,
KOR, LUX, MEX, NLD, NOR, POL, PRT, SVK, SVN, TUR,
USA
PDTY = GDPV/ ET/( XGDPVB/ XETB)
AUS, CAN, CHL, DEU, DNK, GBR, GRC, ISL,
JPN, KOR, MEX, NOR, POL, PRT, TUR
AUT, BEL, CHE, CZE, ESP, EST, FIN, FRA, HUN,
IRL, ISR, ITA, LUX, NLD, SVK, SVN, SWE, USA
EA12, EA13
PDTY = GDPV/ET_NA/( XGDPVB /
XETB)
PDTY = (GDPV / ET) / (XGDPVB /
XETB)
PDTY = GDPCSA/ ET/( XGDPVB/ XETB) NZL
20
Economic Outlook database inventory
3.3.2. Wage rates
CZE, EURO_WGR, MEX
WR = (WAGE - WAGEG)
/EEP
WR = (WAGE - CGW) / EEP EA12, EA13
PCGW = WRG/ XPCGW
AUS, AUT, CAN, CHE, DNK, EA12, EA13, ESP, EURO_WGR,
FIN, GBR, GRC, HUN, IRL, ISL, ISR, ITA, KOR, LUX, MEX,
NLD, NOR, NZL, POL, PRT, SVK, SWE, TUR
BEL
PCGW = ( WRG/ ZCS005)/
XPCGW
PCGW = (CGW/EG)/XPCGW CZE, DEU, FRA
PCGW = CGW / CGWV
JPN
WSSE = ( WSSS- CGW)/ EEP AUS, AUT, BEL, CHE, CZE, DEU, DNK, EA12, EA13, FIN,
FRA, HUN, ISL, JPN, KOR, LUX, NLD, NZL, POL, SVK, SVN,
SWE, TUR
WSRE = WSSE/ PCP/(
XWSSEB/ XPCPB)
ULC = WSSS/ GDPV/ (
XWSSSB / XGDPVB)
ULC = WSSS / GDPCSA / (
XWSSSB / XGDPVB)
3.4.
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA, JPN,
KOR, LUX, MEX, NLD, NOR, NZL, POL, PRT, SVK, SWE,
USA
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA, JPN,
KOR, LUX, MEX, NLD, NOR, POL, PRT, SVK, SWE, TUR,
USA
NZL
Households appropriation account
CGW = WAGEG+TRPGSH+TRPGPH
CGW = WRG*EG
CGW = WRG*EG+TRPGSH
DEU, SWE
DNK, FIN, GBR, IRL, MEX, NZL, TUR
FRA
WSSS = WR* EEP+ CGW+ TRPBSH+ AUS, AUT, BEL, CAN, DNK, ESP, FIN, FRA,
TRPBPH
GRC, IRL, JPN, KOR, MEX, NLD, NOR, NZL,
PRT, SVK, SWE
WSSS = WAGE+TRPBSH
CZE, HUN, ITA, LUX
21
Economic Outlook database inventory
WSSS = WAGE+ TRPBSH+ TRPBPH
DEU, USA
WSSS = WSSE * EEP + CGW
GBR, ISR, POL
WAGE = WR * EEP + CGW
WAGE = WR*EEP+WAGEG
WAGEG = CGW- TRPGSH- TRPGPH
WAGEG = CGW- TRPGSH
WAGEG = CGW
AUS, AUT, CAN, CHE, DNK, ESP, FIN, GBR,
GRC, HUN, IRL, ISL, ITA, JPN, KOR, LUX,
MEX, NOR, NZL, PRT, SVN, TUR
BEL, DEU, FRA, NLD, POL, SVK, SWE, USA
BEL, DEU, NLD, SVK, SWE
FIN, FRA, POL
HUN, MEX
YOTH = YPE+ YSE
BEL, CAN, CZE, DEU, DNK, ESP, FIN, FRA,
GBR, GRC, HUN, ITA, KOR, MEX, NZL, POL,
PRT, SVK, SWE, USA
TRRH = SSPG+ ZCS001
TRRH = ZCS001+ ZCS002
TRRH = SSPG + TRPG + TRROH
TRRH = TXTR*( WAGE+ YOTH)
TRRH = TOCP+SSPG+ZCS002*WSSS/100
CZE
GRC
HUN, NLD
ISL, MEX
NZL
YRH = WSSS+ YOTH+ TRRH- INTDBT
YRH = WSSS +YOTH +TRRH - INTDBT YRH_ADJ
YRH = WSSS+YOTH+TRRH-YRH_ADJ
YRH = WSSS+ YOTH+ TRRH
YRH = WSSS+ YOTH+ TRRH+ TRROHYRH_ADJ
YRH = WSSS+YOTH+TRRHINTDBT+TRROH-YRH_ADJ
YRH = WSSS
AUS, GBR, ISL, JPN, KOR, MEX, NOR, PRT
AUT, CHE, CZE, ESP, EST, FRA, GRC, HUN,
IRL, ITA, POL, SVK, SVN
BEL, DNK, FIN, NLD, SWE
CAN, NZL, TUR, USA
DEU
LUX
TRSSH = TXSSH* TRPH
TRSSH = TRPBSH+ TRPGSH+ TRPESH
TRSSH = TRPESH+ TRPBSH
TRSSH = TRPH
TRSSH = TRPH-TROPH
AUS, ISL, MEX, TUR, USA
BEL, CAN, FIN, FRA
CZE, DEU, DNK, HUN, IRL, JPN
ISR
POL
TRPH = TROPH+ TRSSH
CZE, DEU, ESP, HUN, ISL, JPN, KOR, MEX, NLD,
SVK, SWE
FIN
ISR
TRPH = TRSSH+ TROPH+ TRPBPH
TRPH = SSRG
EA12, EA13
22
Economic Outlook database inventory
YDH = YRH- TYH- TRPH
YDH = YRH- TYH- TRPH- INTDBT
YDH = YRH
YDRH = YDH/ PCP
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK,
EA12, EA13, ESP, EST, EURO_WGR, FRA, GBR,
GRC, HUN, IRL, ISL, ITA, JPN, KOR, MEX,
NLD, NOR, POL, PRT, SVK, SVN, TUR, USA
FIN, NZL, SWE
LUX
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK,
EA12, EA13, ESP, EST, FIN, FRA, GBR, GRC,
HUN, IRL, ISL, ITA, JPN, KOR, LUX, MEX,
NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE,
TUR, USA
CPAA = CP
ISL
CPAA = CP + INTDBT + TRRPG + TRPPVF USA
SAVH = YRH- YPH
SAVH = YRH- YPH+ EQPF
SRATIO = SAVH*100.0/ YDH
SRATIO = SAVH*100.0/( YDH+ EQPF)
3.5.
AUS, CAN, FRA, GRC, ISL, LUX, MEX, TUR,
USA
AUT, BEL, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, GBR, HUN, IRL, ITA, JPN,
KOR, NLD, NOR, NZL, POL, PRT, SVK, SVN,
SWE
AUS, CAN, FRA, GRC, ISL, TUR, USA
AUT, BEL, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, GBR, HUN, IRL, ITA, JPN,
KOR, NLD, NOR, NZL, POL, PRT, SVK, SVN,
SWE
Government appropriation account, not cyclically-adjusted
3.5.1. Current government revenues
TYB = TY-TYH
TYB = TXYB*( GDP- TIND- YPERG+ TSUB+
YPEPG- WSSS- YSE+(1- XGNP)* BSII)
TYB = TFYB+TLYB
DNK, EA12, EA13, NOR, NZL, TUR
MEX
TY = TYH+ TYB
AUS, AUT, BEL, CAN, CHE, CZE, ESP, FIN,
FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA,
JPN, KOR, NLD, NOR, POL, PRT, SVK,
SWE
DEU
USA
TY = TYB+ TYH+ TYO
TY = TYH+ TYB+TRROW
USA
23
Economic Outlook database inventory
TIND = TINDOFS+TINDML
TIND = TFIND+TLIND
NOR
USA
SSRG = TRSSH+SSROG
SSRG = TRSSH-ZCS001
SSRG = ZCS005* WSSS/100
SSRG = TRFSSH+TRLSSH
DEU
FRA
NZL
USA
YPERG = YPERGOFS+YPERGML
YPERG = GGINTR+ZCS015
NOR
USA
YRG = TY+ TIND+ SSRG+
TOCR+ YPERG
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA,
JPN, KOR, LUX, MEX, NLD, NOR, NZL, POL, PRT, SVK,
SVN, SWE, TUR
YRG = TY + TIND + SSRG + USA
TOCR + YPERG + YGSURP
YRGT = YRG+ TKTRG
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK, SVN,
SWE, TUR, USA
YRGTQ = YRGT/ GDP*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, HUN, IND, IRL, ISL, ISR,
ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, POL, PRT, SVK,
SVN, SWE, USA
YRGX = YRG- GGINTR
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, IRL, ISL, ISR, ITA, JPN,
KOR, NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE, USA
3.5.2. Current government outlays
CGAA = CGW+ CGNW
BEL, CAN, CZE, DEU, ESP, FIN, GBR, JPN, NOR, NZL, POL,
SVK, SWE, TUR, USA
YPEPG = GGINTP
USA
SSPG = TRRH+SSPOG
SSPG = SSPFG+SSPLG
DEU
USA
24
Economic Outlook database inventory
YPG = CGAA+ YPEPG+
TSUB+ SSPG+ TOCP
YPG = CGAA+
YPEPG+TSUB+
SSPG+TOCP-WAMD
YPGX = YPG- GGINTP
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA,
JPN, KOR, LUX, MEX, NLD, NOR, NZL, POL, PRT, SVK,
SVN, SWE, TUR
USA
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, IRL, ISL, ISR, ITA, JPN,
KOR, NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE, USA
3.5.3. Government capital account and deficits
SAVG = YRG- YPG
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12, EA13,
ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA,
JPN, KOR, LUX, MEX, NLD, NOR, NZL, POL, PRT, SVK,
SVN, SWE, TUR, USA
IGAA = IG
IGAA = IGAA[T-1] * IG /
IG[T-1])
IGAA = IG- IENTG
AUS, AUT, CHE, ESP, GRC, KOR, PRT, USA
CAN
CAPOG = IGAA+ TKPGTKTRG- CFKG
CAPOG = IGAA+TKPGTKTRG
JPN
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, ESP, EST,
FIN, FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA, JPN, KOR,
LUX, MEX, NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE,
USA
TUR
YPGT = YPG+ IGAA+
TKPG- CFKG
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL,
ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, POL,
PRT, SVK, SVN, SWE, USA
YPGT = YPG+ IGAA+ TKPG
TUR
YPGTQ = YPGT/ GDP*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN, IND, IRL,
ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL,
POL, PRT, SVK, SVN, SWE, TUR, USA
NLG = SAVG- CAPOG
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL,
ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, POL,
PRT, SVK, SVN, SWE, TUR, USA
25
Economic Outlook database inventory
NLG = YRGT -YPGT
CHN
GGINTP = YPEPG
GGINTP = GGINTP[T1]*YPEPG/YPEPG[T-1]
AUS, CAN, DEU, DNK, GBR, ISL, NOR, USA
FIN, FRA, ITA, KOR, NLD, POL, PRT
NLGX = NLG+ GNINTP
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL,
ISR, ITA, JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT,
SVK, SVN, SWE, USA
NLGCQ = NLGC / GDP*100
CAN, CHL, DEU, FRA, GBR, ITA, JPN, KOR, RUS, USA
NLGQ = NLG/ GDP*100
AUS, AUT, BEL, BRA, CAN, CHE, CHN, CZE, DEU, DNK,
EA12, ESP, EST, FIN, FRA, GBR, GRC, HUN, IDN, IND,
IRL, ISL, ISR, ITA, JPN, KOR, LUX, NLD, NOR, NZL, POL,
PRT, RUS, SVK, SVN, SWE, TUR, USA, ZAF
NLGXQ = NLGX/ GDP*100
AUS, AUT, BEL, BRA, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN, IRL, ISL,
ISR, ITA, JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT,
SVK, SVN, SWE, USA
YPEPGX = YPEPG- GGINTP
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, EST, FIN, FRA, GBR, GRC, IRL, ISL, ISR, ITA,
JPN, KOR, NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE,
USA
YPERGX = YPERGGGINTR
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, EST, FIN, FRA, GBR, GRC, IRL, ISL, ISR,
ITA, JPN, KOR, NLD, NOR, NZL, POL, PRT, SVK, SVN,
SWE, USA
3.6.
General government cyclically-adjusted and underlying financial balances 6
TYHA = TYH* (XALPHA2*
IFU3**XTYHEL + (1-XALPHA2)*
IFU3[T-4]**XTYHEL)
6
AUS, AUT, BEL, CAN, CHE, CZE, DNK,
ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL,
ITA, JPN, KOR, NLD, NOR, NZL, POL,
PRT, SVK, SWE, USA
See also: Giorno, C., P. Richardson, D. Rosevaere and P. Van den Noord (1995), ‘Estimating potential
output, output gaps and structural budget balances’, OECD Economics Department Working paper 152
www.oecd.org/dataoecd/32/52/1863308.pdf and. the OECD Economics Department Working Paper
ECO/WKP(2008)50 “ Accounting for one-off operations when assessing underlying fiscal positions
26
Economic Outlook database inventory
TYHA = (TYH+TYO) * (XALPHA2 * IFU3 DEU
** XTYHEL + (1-XALPHA2)*IFU3[T-4] **
XTYHEL)
TYHA = TYH * IFU3**XTYHEL
EA12, EA13
TYBA = TYB* (XALPHA*
IFU3**XTYBEL +(1-XALPHA)* IFU3[T4]**XTYBEL)
TYBA = TYBML* (XALPHA* IFU3 **
XTYBEL + (1-XALPHA) * IFU3[T-4] **
XTYBEL)
TINDA = TIND*
IFU3**XTINDE
TINDA = TINDML* IFU3**
XTINDE
SSRGA = SSRG*
IFU3**XSSRGE
AUS, AUT, BEL, CAN, CHE, CZE, DEU,
DNK, EA12, EA13, ESP, FIN, FRA, GBR,
GRC, HUN, IRL, ISL, ITA, JPN, KOR,
NLD, NZL, POL, PRT, SVK, SWE, USA
NOR
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NZL, POL, PRT, SVK, SWE, USA
NOR
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
YRGA = TYBA+ TYHA+ TINDA+
SSRGA+ TOCR+ YPERG
YRGA = TYA + TINDA+ SSRGA+ TOCR
+YPERG
YRGA = TYBA + TYHA + TINDA +
SSRGA + TOCRML + YPERGML
YRGA = TYBA + TYHA + TINDA +
SSRGA + TOCR + YPERG + YGSURP +
TRROW
AUS, AUT, BEL, CAN, CHE, CZE, DEU,
DNK, EA12, EA13, ESP, FIN, FRA, GBR,
GRC, HUN, IRL, ISL, ITA, JPN, KOR,
NLD, NZL, POL, PRT, SVK, SWE
LUX
NOR
USA
YRGQA = YRGA/
GDPTR*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
YPGXA = (YPG- GGINTP)*
(UNR/NAIRU)** XYPGEL2
AUS, AUT, BEL, CAN, CHE, CZE, DNK, ESP, FIN, FRA,
GBR, GRC, HUN, IRL, ISL, ITA, KOR, LUX, NLD, NOR,
NZL, POL, PRT, SVK, SWE, USA
DEU, JPN
YPGXA = (YPG- GGINTP+
ZCS009)*
(UNR/NAIRU)**XYPGEL2
27
Economic Outlook database inventory
YPGXA = (YPGGGINTP)*IFU3**XYPGEL
EA12, EA13
YPGA = YPGXA+ GGINTP
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
YPGQA = YPGA/
GDPTR*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
NLGA = YRGA- YPGACAPOG- KTRMOB
AUS, AUT, BEL, CAN, CHE, DEU, DNK, EA12, EA13,
ESP, FIN, FRA, GBR, GRC, IRL, ISL, ITA, JPN, KOR,
NLD, NZL, PRT, SWE
CZE, HUN, LUX, NOR, POL, SVK, USA
NLGA = YRGA- YPGACAPOG
NLGXA = NLGA+ GNINTP
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
NLGQA = NLGA/
GDPTR*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
NLGXQA = NLGXA/
GDPTR*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
TKTRGQU =
TKTRG/GDPTR
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
TKTRGU =
HPFILTER(TKTRGQU,10240
0) * GDPTR
TKTRGU =
HPFILTER(TKTRGQU,25600
) * GDPTR
AUS, AUT, BEL, CAN, CHE, DEU, DNK, EA12, EA13,
ESP, FIN, FRA, GBR, GRC, IRL, ISL, ITA, JPN, KOR,
LUX, NLD, NOR, NZL, POL, PRT, SWE, USA
CZE, HUN, SVK
28
Economic Outlook database inventory
YPGTU = YPGA+IGAACFKG+TKPGU-TPGOE
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
YRGTQU =
YRGTU/GDPTR*100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
TKPGQU = TKPG/GDPTR
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
TKPGU =
HPFILTER(TKPGQU,
102400) * GDPTR
AUS, AUT, BEL, CAN, CHE, DEU, DNK, EA12, EA13,
ESP, FIN, FRA, GBR, GRC, IRL, ISL, ITA, JPN, KOR,
LUX, NLD, NOR, NZL, POL, PRT, SWE, USA
YPGTU = YPGA+IGAACFKG+TKPGU-TPGOE
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
NLGQU =
NLGU/GDPTR*100
NLGU = YRGTU-YPGTU
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, EA12,
EA13, ESP, FIN, FRA, GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, NLD, NOR, NZL, POL, PRT, SVK,
SWE, USA
29
Economic Outlook database inventory
3.6.1
Country
United
States
Japan
German
y
France
Italy
United
Kingdom
Canada
Australia
Austria
Belgium
Czech
Republic
Denmar
k
Finland
Greece
Hungary
Iceland
Ireland
Italy
Korea
Luxemb
ourg
Mexico
Netherla
nds
New
Zealand
Norway
Poland
Portugal
Slovak
Republic
Spain
Sweden
Switzerl
and
Turkey
XALPHA
1
XALPHA
2
0.5
0.75
0.5
Values of tax and outlays elasticities
XTY
XTYHEL
1.3
XSSRG
E
0.6
0.5
0.75
1.2
1.6
0
0.5
0.5
0
0.5
0.5
1
1
0.25
1
1
1
XYPGE
L2
-0.018
0.6
0.6
1
1
-0.015
-0.035
1.2
1.8
1.2
0.8
0.9
0.9
1
1
1
-0.033
-0.013
-0.009
0.5
0.5
0.25
1
1
1.1
1
1.3
1.1
1.2
0.6
0
0.6
0.8
0.8
1
1
1
1
1
-0.023
-0.03
-0.024
-0.044
-0.007
0.5
0.5
1
0.7
1
-0.026
0.5
1
0.5
0.25
1
0.5
1
0.5
1
1
0.5
0.5
0.5
0.5
0.25
0.9
1.8
1.7
0.9
1.4
1.8
1.4
0.6
0.9
0.6
0.6
0.9
0.9
0.5
0.8
1
1
1
1
1
1
1
1
-0.032
-0.013
-0.01
-0.005
-0.022
-0.013
-0.007
-0.01
0
0
1.7
0.6
1
-0.029
1
1
0.9
0
1
-0.028
0.5
0.75
0.75
0.5
0.5
1
1
1
1
1
1.5
0.7
0.8
0.7
0.9
0.7
1
1
1
1
-0.009
-0.005
-0.016
-0.01
0.75
1
0.5
0.25
1
1
1.9
0.9
1.1
0.7
0.7
0.7
1
1
1
-0.046
-0.019
-0.024
30
XTINDE
XTYEL
1.6
Economic Outlook database inventory
3.7
Government debt
GNFL = GNFL[T-1] - NLG/4
+ SDGNFL/4
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, ESP, FIN, FRA,
GBR, GRC, HUN, IRL, ISL, ITA, JPN, KOR, LUX, MEX, NLD,
NOR, NZL, POL, PRT, SVK, SVN, SWE, USA
GGFL =
GNFL+GFAR*GDP/100
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, ESP, EST, FIN,
FRA, GBR, GRC, HUN, IRL, ISL, ITA, JPN, KOR, LUX, MEX,
NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE, USA
EA12
GGFL = GGFLQ * GDP / 100
GGFLQ = GGFL / GDP * 100
3.8
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK, ESP, EST, FIN,
FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA, JPN, KOR, LUX,
MEX, NLD, NOR, NZL, POL, PRT, SVK, SVN, SWE, USA
Interest rates, exchange rates and monetary aggregates
EXCHUD = 1./ EXCH
AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, FIN, FRA, GBR, GRC, HUN, IDN, IRL, ISL, ISR, ITA,
JPN, KOR, LUX, MEX, NLD, NOR, NZL, OIL, POL, PRT, ROW,
RUS, SAU, SVK, SWE, TUR, USA, ZAF
VLCTY = GDP/ MONEYS
AUS, AUT, BEL, CHE, CZE, DEU, DNK, EA12, EA13, ESP, FIN,
FRA, GBR, GRC, HUN, IRL, ISL, ISR, ITA, JPN, KOR, MEX,
NLD, NOR, POL, PRT, SVK, TUR, USA
3.9
External sector
3.9.1. Trade volumes (NBASE=2005)
XGSVD = MEAN(XGSD <DATE NBASE>) *
(MEAN(EXCH <DATE NBASE>)*MEAN(XGS
<DATE NBASE>)*XGSV/MEAN(XGSV <DATE
NBASE>))/MEAN( XGSV/MEAN(XGSV <DATE
NBASE>)*(MEAN(EXCH <DATE
NBASE>)*MEAN(XGS <DATE NBASE>))
ARG, AUS, AUT, BEL, BRA, CAN, CHE,
CHL, CHN, CZE, DAE, DEU, DNK, ESP, EST,
FIN, FRA, GBR, GRC, HUN, IDN, IND, IRL,
ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD,
NOR, NZL, OIL, POL, PRT, ROW, RUS, SAU,
SVK, SVN, SWE, TUR, USA, ZAF
MGSVD = MEAN(MGSD <DATE NBASE>) *
(MEAN(EXCH <DATE NBASE>)*MEAN(MGS
<DATE NBASE>)*MGSV/MEAN(MGSV <DATE
NBASE>))/MEAN( MGSV/MEAN(MGSV <DATE
NBASE>)*(MEAN(EXCH <DATE
NBASE>)*MEAN(MGS <DATE NBASE>))
ARG, AUS, AUT, BEL, BRA, CAN, CHE,
CHL, CHN, CZE, DAE, DEU, DNK, ESP, EST,
FIN, FRA, GBR, GRC, HUN, IDN, IND, IRL,
ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD,
NOR, NZL, OIL, POL, PRT, ROW, RUS, SAU,
SVK, SVN, SWE, TUR, USA, ZAF
31
Economic Outlook database inventory
3.9.2. Trade prices (NBASE=2005)
PXNW = PXNW[T-1]*( XFD[T]*WPHFD[T]/WPHFD[T1]+XTB[T]*WPHTBD[T]/WPHTBD[T1]+XEN[T]*WPOIL[T]/WPOIL[T1]+XAR[T]*WPHAMD[T]/WPHAMD[T-1]+(1-XFD[T]XTB[T]-XEN[T]-XAR) *WPHMMD[T]/WPHMMD[T-1])
/(EXCH[T]/EXCH[T-1])
AUS, AUT, BEL, CAN, CHE, CHN,
CZE, DEU, DNK, ESP, FIN, FRA,
GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, MEX, NLD, NOR,
POL, PRT, SVK, SWE, TUR, USA
PXGSX = (EXP((LOG(PXGS/MEAN(PXGS <DATE
NBASE>))-WXN*LOG(PXNW))/(1WXN)))/(MEAN(EXP((LOG(PXGS/MEAN(PXGS <DATE
NBASE>))-WXN*LOG(PXNW))/(1-WXN)) <DATE
NBASE>))
ARG, AUS, AUT, BEL, BRA, CAN,
CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, EST, FIN, FRA, GBR,
GRC, HUN, IDN, IND, IRL, ISL, ISR,
ITA, JPN, KOR, LUX, MEX, NLD,
NOR, NZL, OIL, POL, PRT, ROW,
RUS, SAU, SVK, SVN, SWE, TUR,
USA, ZAF
PMNW = PMNW[T-1]*( MFD[T]* WPHFD[T]/ WPHFD[T1]+MTB[T]*WPHTBD[T]/WPHTBD[T1]+MEN[T]*WPOIL[T]/WPOIL[T-1]+MAR[T]*
WPHAMD[T]/WPHAMD[T-1]+(1-MFD[T]-MTB[T]MEN[T]-MAR) *WPHMMD[T]/WPHMMD[T-1])
/(EXCH[T]/EXCH[T-1])
AUS, AUT, BEL, CAN, CHE, CHN,
CZE, DEU, DNK, ESP, FIN, FRA,
GBR, GRC, HUN, IRL, ISL, ITA,
JPN, KOR, LUX, MEX, NLD, NOR,
NZL, POL, PRT, SVK, SWE, TUR,
USA
PMGSX = (EXP((LOG(PMGS/MEAN(PMGS <DATE
NBASE>))-WMN*LOG(PMNW))/(1WMN)))/(MEAN(EXP((LOG(PMGS/MEAN(PMGS
<DATE NBASE>))-WMN*LOG(PMNW))/(1-WMN))
<DATE NBASE>))
ARG, AUS, AUT, BEL, BRA, CAN,
CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, EST, FIN, FRA, GBR,
GRC, HUN, IDN, IND, IRL, ISL, ISR,
ITA, JPN, KOR, LUX, MEX, NLD,
NOR, NZL, OIL, POL, PRT, ROW,
RUS, SAU, SVK, SVN, SWE, TUR,
USA, ZAF
RPMGS = PMGS/ PMSH
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, ESP, EST, FIN, FRA, GBR, GRC, HUN, IDN, IND,
IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, OIL,
POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR, USA, ZAF
RPXGS = PXGS/ PXC
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, ESP, EST, FIN, FRA, GBR, GRC, HUN, IDN, IND,
IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, OIL,
POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR, USA, ZAF
32
Economic Outlook database inventory
3.9.3. Trade values (USD)
XGSD = XGS* EXCH
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, EA12, EA13, ESP, FIN, FRA, GBR, GRC, HUN, IDN,
IND, IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR,
NZL, OIL, POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR,
USA, ZAF
MGSD = MGS* EXCH
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, EA12, EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN,
IDN, IND, IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR,
NZL, OIL, POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR,
USA, ZAF
FBGSD = FBGS* EXCH
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, ESP, FIN, FRA, GBR, GRC, HUN, IDN, IND, IRL,
ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, OIL,
POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR, USA, ZAF
3.9.4. Current account of the balance of payments
CBGDPR = 100*CB/ GDP
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, EA12, EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN,
IDN, IND, IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD,
NOR, NZL, OIL, POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE,
TUR, USA, ZAF
BSII = XSII-MSII
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, EA13, ESP, EST, FIN, FRA, GBR, GRC, HUN, IDN,
IND, IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR,
NZL, OIL, POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR,
USA, ZAF
EA12
BSII = BSIID / EXCH
CB = FBGS +BSII
+NTR+CBR
CB = CBD / EXCH
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, ESP, FIN, FRA, GBR, GRC, HUN, IDN, IND, IRL,
ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, OIL,
POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR, USA, ZAF
EA12, EA13, EST
CBR = CBRD/EXCH
BRA, EA12, EA13, IDN, KOR, MEX, POL, TUR
33
Economic Outlook database inventory
XSIID = XSII* EXCH
ARG, AUS, AUT, BEL, CAN, CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, FIN, FRA, GBR, GRC, HUN, IND, IRL, ISL, ISR, ITA,
JPN, LUX, NLD, NOR, NZL, OIL, PRT, ROW, RUS, SAU, SVK,
SVN, SWE, USA, ZAF
MSIID = MSII* EXCH
ARG, AUS, AUT, BEL, CAN, CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, FIN, FRA, GBR, GRC, HUN, IND, IRL, ISL, ISR, ITA,
JPN, LUX, NLD, NOR, NZL, OIL, PRT, ROW, RUS, SAU, SVK,
SVN, SWE, USA, ZAF
NTRD = NTR * EXCH
ARG, AUS, AUT, BEL, CAN, CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, FIN, FRA, GBR, GRC, HUN, IND, IRL, ISL, ISR, ITA,
JPN, LUX, NLD, NOR, NZL, OIL, PRT, ROW, RUS, SAU, SVK,
SVN, SWE, USA, ZAF
CBRD = CBR * EXCH
ARG, AUS, AUT, BEL, CAN, CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, EST, FIN, FRA, GBR, GRC, HUN, IND, IRL, ISL, ISR,
ITA, JPN, LUX, NLD, NOR, NZL, OIL, PRT, ROW, RUS, SAU,
SVK, SVN, SWE, USA, ZAF
BSIID = XSIID- MSIID
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, EA12, EA13, ESP, FIN, FRA, GBR, GRC, HUN, IDN,
IND, IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR,
NZL, OIL, POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR,
USA, ZAF
CBD = CB*EXCH
ARG, AUS, AUT, BEL, BRA, CAN, CHE, CHL, CHN, CZE, DAE,
DEU, DNK, ESP, EST, FIN, FRA, GBR, GRC, HUN, IDN, IND,
IRL, ISL, ISR, ITA, JPN, KOR, LUX, MEX, NLD, NOR, NZL, OIL,
POL, PRT, ROW, RUS, SAU, SVK, SVN, SWE, TUR, USA, ZAF
CBRD = CBR * EXCH
ARG, AUS, AUT, BEL, CAN, CHE, CHL, CHN, CZE, DAE, DEU,
DNK, ESP, EST, FIN, FRA, GBR, GRC, HUN, IND, IRL, ISL, ISR,
ITA, JPN, LUX, NLD, NOR, NZL, OIL, PRT, ROW, RUS, SAU,
SVK, SVN, SWE, USA, ZAF
34
Economic Outlook database inventory
Competitiveness indicators 7
3.9.5
1
w1ij ,t −1 =
∑
k =1,... N
[Tik ,t −1 /
∑T
k '=1,... N
ik ',t −1
][T jk ,t −1 /
∑T
j '=1,.... N
j ' #i
j 'k ,t −1
] if i#j
w1ij ,t −1 = 0 if i=j
Tik : export of manufactured goods from country i to country k (if i#k); production of the manufacturing
sector (net of exports) (if i=k)
M: number of competitors
N: number of markets (countries and regions)
2
XDRi ,t = XDRi ,t −1 * exp[ln{(X i ,t * EXCHINi ,t ) /( X i ,t −1 * EXCHINi ,t −1 )} −
∑ w1
* ln{( X j ,t * EXCHIN j ,t ) /( X j ,t −1 * EXCHIN j ,t −1 )}]
∑ w1
= 1∀i
ij ,t −1
j ⊂OECD, NON12
ij ,t −1
j ⊂OECD, NON12
XDR = ULCMDR if X = ULCM
XDR = CPIDR
if X = CPI
NON12=[Singapore, Chinese Taipei, Hong Kong China, China, Indonesia,
Malaysia, the Philippines, Thailand, India, Argentina, Brazil, Russia (from
1993 onwards)]
W1: overall competitiveness weights (for specification see equation 1)
CZE, HUN and POL in calculation from 1993 onwards.
[calculated for history and current period only]
3.a
EXCHEBi ,t = EXCHEBi ,t −1 * exp[ln{EXCHi ,t / EXCHi ,t −1} −
∑ w1
* ln{EXCH j ,t /( EXCH j ,t −1}]
∑ w1
= 1∀i
ij ,t −1
j ⊂OECD, NON12
ij ,t −1
j ⊂OECD, NON12
NON12=[Singapore, Chinese Taipei, Hong Kong China, China, Indonesia,
7
See also:
Durand, M., C. Madaschi and F. Terribile (1998), “Trends in OECD countries’ international
competitiveness: the influence of emerging market economies” OECD Economics Department Working
Paper 195 www.oecd.org/dataoecd/34/47/1864948.pdf
Durand, M. , J. Simon and C. Webb (1992), “OECD’s indicators of international trade and
competitiveness”,
OECD
Economics
Department
Working
Paper
120
on
www.oecd.org/dataoecd/19/56/28740598.pdf.
35
Economic Outlook database inventory
Malaysia, the Philippines, Thailand, India, Argentina, Brazil, Russia (from
1993 onwards)]
W1: overall competitiveness weights (for specification see equation 1)
3.b
CZE, HUN and POL in calculation from 1993 onwards.
[calculated for history and current period only]
EXCHEB = No formula either for aggregate or
AUS, AUT, BEL, CAN, CHE, CZE, DEU, DNK,
forecast variables
ESP, EURO, FIN, FRA, GBR, GRC, HUN, IRL,
ISL, ITA, JPN, KOR, LUX, MEX, NLD, NOR,
NZL, POL, PRT, SVK, SWE, TUR, USA
36
Economic Outlook database inventory
4.
DESCRIPTIONS
In the first part, the descriptions of all variables are given in alphabetical order while in the second part the
description of the most relevant variables are given in alphabetical order by subject.
Variables are in local currency unless mentioned otherwise.
4.1. All variables
Most variables are defined the same for all countries. However, there are also some variables with a
country-specific definition. The latter are clarified at the end of this subsection.
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Codes
BSII
BSIID
CAPOG
CB
CBD
CBGDPR
CBR
CBRD
CFKG
CG
CGAA
CGNW
CGV
CGW
CLFS
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
CP
CPAA
CPI
CPIDR
CPIH
CPV
ECSA
EE
EEP
EG
EQPF
ES
ET
ETB
ETPT
ET_NA
Description
Balance of income, value, balance of payments basis
Balance of income, value in USD, balance of payments basis
Net capital outlays of the government, value
Current account balance, value
Current account balance, value in USD
Current account balance, as a percentage of GDP
Current account balance, residual item
Current account balance, residual item, USD
Government consumption of fixed capital, value
Government final consumption expenditure, value, GDP expenditure approach
Government final consumption expenditure, value, appropriation account
Government final non-wage consumption expenditure, value
Government final consumption expenditure, volume
Government final wage consumption expenditure, value
Ratio total employment National Accounts based to total employment labour force survey
based
Private final consumption expenditure, value, GDP expenditure approach
Private final consumption expenditure, value, appropriation account
Consumer price index
Competitiveness indicator, relative consumer prices (CPI), overall weights
Consumer price index, harmonised, quarterly sa
Private final consumption expenditure, volume
Employment, country specific, variable a
Dependent employment, total economy
Dependent employment, private sector
General government employment
Adjustment for the change in net equity of households in pension fund reserves, value
Total self-employed
Total employment
Employment, private sector
Potential employment of the total economy
Total employment, National Accounts basis
37
Economic Outlook database inventory
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
EXCH
EXCHEB
EXCHUD
FBGS
FBGSD
FDD
FDDV
GAP
GDP
GDPCSA
GDPML
GDPMLV
GDPOFS
GDPOFS
V
GDPTR
GDPV
GDPVCS
A
GDPVD
GDPVTR
GFAR
GGFL
GGFLM
GGFLMQ
GGFLQ
GGINTP
GGINTR
GNFL
GNFLQ
GNINTP
GNINTQ
GNP
GNPV
HRS
HRST
IB
IBV
IC
ICNH
ICNHV
ICV
IENTG
IFU3
IG
IGAA
IGV
IH
IHG
IHGV
IHV
IMEQ
IMEQV
Exchange rate, USD per National currency
Nominal effective exchange rate, chain-linked, overall weights
Exchange rate, National currency per USD
Net exports of goods and services, value, National Accounts basis
Net exports of goods and services, value, National Accounts basis, USD
Final domestic expenditure, value
Final domestic expenditure, volume
Output gap of the total economy
Gross domestic product, value, market prices
GDP value country specific (no working days adjusted GDP or output approach GDP )
Gross domestic product, mainland, value
Gross domestic product, mainland, volume
Gross domestic product, value, market prices, offshore
Gross domestic product, volume, market prices, offshore
Potential output of total economy, value
Gross domestic product, volume, market prices
GDP value country specific (annual non- adjusted GDP or output approach GDP), volume
Gross domestic product, volume, at 2005 PPP, USD
Potential output of total economy, volume
General government gross financial assets, as a percentage of GDP
General government gross financial liabilities, value
Gross public debt, Maastricht criterion, value
Gross public debt, Maastricht criterion, as a percentage of GDP
General government gross financial liabilities, as a percentage of GDP
Gross government interest payments, value
Gross government interest receipts, value
General government net financial liabilities, value
General government net financial liabilities, as a percentage of GDP
Net government interest payments, value
Net government interest payments, as a percentage of GDP
Gross national product, value, market prices
Gross national product, volume, market prices
Hours worked per employee, total economy
Trend of hours worked per employee in total economy
Private non-residential gross fixed capital formation, value
Private non-residential gross fixed capital formation, volume
Fixed investment in construction, value
Fixed investment in non-residential construction, value
Gross fixed capital formation, non-residential construction, volume
Gross fixed capital formation, construction, volume
Gross fixed capital formation of government enterprises, value
Ratio of potential and actual real GDP of the total economy
Gross government fixed capital formation, value
Government fixed capital formation, value, appropriation account
Government gross fixed capital formation, volume
Gross fixed capital formation, housing, value
Government housing gross fixed capital formation, value
Government housing gross fixed capital formation, volume
Gross fixed capital formation, housing, volume
Gross fixed capital formation, metal products and machinery, transport equipment, value
Gross fixed capital formation, metal products and machinery, transport equipment, volume
38
Economic Outlook database inventory
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
INTDBT
IP
IPV
IRL
IRS
IT
ITISK
ITISKV
ITV
KBV
KTRMOB
KTV
KTVS
LF
LFPR
LFPRS
LFS
MGS
MGSD
MGSV
MGSVD
MONEYS
MPEN
MSII
MSIID
NAIRU
NITV
NLG
NLGA
NLGC
NLGCQ
NLGML
NLGQ
NLGQA
NLGQU
NLGU
NLGX
NLGXA
NLGXQ
NLGXQA
NLGXQU
NLGXU
NTR
NTRD
PCG
PCGW
PCORE
PCOREH
131
132
133
134
PCP
PDTY
PGDP
PGDPML
Interest on consumer debt, value
Private total fixed capital formation, value
Private total fixed capital formation, volume
Long-term interest rate on government bonds
Short-term interest rate
Gross fixed capital formation, total, value
Gross capital formation, current prices
Gross capital formation, total, volume
Gross fixed capital formation, total, volume
Capital stock of the private sector, volume
Capital transfers mobile phone licences, value
Capital stock total economy, volume
Capital stock total economy, volume
Labour force
Labour force participation rate
Trend labour force participation rate
Trend labour force
Imports of goods and services, value, National Accounts basis
Imports of goods and services, value, National Accounts basis, USD
Imports of goods and services, volume, National Accounts basis
Imports of goods and services, volume, USD, 2005 prices
Money supply, broad definition M2 or M3
Import penetration, goods and services
Factor income paid abroad, value, balance of payments basis
Factor income paid abroad, value in USD, bop basis
NAIRU - Unemployment rate with non-accelerating inflation rate
Net indirect taxes, volume
Government net lending, value
Cyclically adjusted government net lending, value
Central government net lending, value
Central government net lending, per cent of GDP
Government net lending, value, mainland
Government net lending, as a percentage of GDP
Cyclically adjusted government net lending, as a percentage of potential GDP
Underlying government net lending, as a percentage of potential GDP
Underlying government net lending, value
Government primary balance, value
Cyclically adjusted government primary balance, value
Government primary balance, as a percentage of GDP
Cyclically adjusted government primary balance, as a percentage of potential GDP
Underlying government primary balance, as a percentage of potential GDP
Underlying government primary balance, value
Net current international transfers, value, balance of payments basis
Net current international transfers, value, balance of payments basis, USD
Government final consumption expenditure, deflator
Government final wage consumption expenditure, deflator
Core inflation index
Core inflation index, harmonised, HICP excluding energy, food, alcohol and tobacco,
quarterly sa
Private final consumption expenditure, deflator
Labour productivity of the total economy
Gross domestic product, deflator, market prices
Gross domestic product, deflator, mainland
39
Economic Outlook database inventory
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
PGDPOF
S
PIB
PIC
PIG
PIH
PIME
PIOB
PIT
PITISK
PMGS
PMGSX
PMNW
PMSH
PMSHX
POPT
PPP
PTDD
PXC
PXCX
PXGS
PXGSX
PXNW
RLCT
RPMGS
RPXGS
SAVG
SAVH
SAVH_G
SRATIO
SRATIO_
G
SSPG
SSPOG
SSRG
SSRGA
SSROG
TDD
TDDV
TEV
TIND
TINDA
TINDML
TINDOFS
TKPG
TKPGQU
TKPGU
TKTRG
TKTRGQ
U
TKTRGU
TOCP
TOCR
Gross domestic product, deflator, market prices, offshore
Private non-residential fixed capital formation, deflator
Gross fixed investment in construction, deflator
Government fixed capital formation, deflator
Residential fixed capital formation, deflator
Fixed investment in machinery and equipment, deflator
Private non-residential investment excluding shipping and oil, deflator
Gross total fixed capital formation, deflator
Gross capital formation, deflator
Imports of goods and services, deflator, National Accounts basis
Price of non- commodity imports of goods and services
Price of commodity imports
Shadow price of goods and services imports
Shadow price of non- commodity goods and services imports
Working-age population
Purchasing power parity, National currency per USD
Total domestic expenditure, deflator
Competitors' price of goods and services exports
Competitors' price of non- commodity goods and services exports
Exports of goods and services, deflator, National Accounts basis
Price of non- commodity exports of goods and services
Price of commodity exports
Real compensation rate, total economy
Relative price of imported goods and services
Relative price of exported goods and services
Government saving (net ), value
Net household saving, value
Gross household saving, value
Household and non-profit institutions serving households net saving ratio
Household and non-profit institutions serving households gross saving ratio
Social security benefits paid by general government, value
Other social security benefits paid by general government, value
Social security contribution received by general government, value
Cyclically adjusted social security contributions received by general government, value
Other social security contribution received by general government, value
Total domestic expenditure, value
Total domestic expenditure, volume
Total expenditure, volume
Taxes on production and imports, value
Cyclically adjusted taxes on production and imports, value
Taxes on production and imports, value, mainland
Taxes on production and imports, value, offshore
Capital Transfers paid and other capital payments, value
Underlying capital transfers paid and other capital payments, as a percentage of potential
GDP
Underlying capital transfers paid and other capital payments, value
Capital tax and transfers receipts, value
Underlying capital tax and transfers receipts, as a percentage of potential GDP
Underlying capital tax and transfers receipts, value
Other current payments, general government, value
Other current receipts, general government, value
40
Economic Outlook database inventory
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
TOCRML
TOCROF
S
TPGOE
TRGOE
TRPESH
TRPH
TRRH
TRROH
TRSSH
TSUB
TY
TYB
TYBA
TYBML
TYBOFS
TYH
TYHA
TYO
ULC
ULCM
ULCMDR
UN
UNR
VLCTY
WAGE
WAGEG
WR
WSRE
WSSE
WSSS
WSST
XGS
XGSD
XGSV
XGSVD
XMKT
XPERF
XSII
XSIID
YDH
YDH_G
YDRH
YDRH_G
YOTH
YOTH_G
YPE
YPEPG
YPEPGX
YPERG
YPERGM
L
YPERGO
Other current receipts, general government, value, mainland
Other current receipts, general government, value, offshore
Other exceptional transfers, general government
Other exceptional transfers received, general government
Employees and self-employed contribution to social security
Total current transfers paid by households, value
Current transfers received by households, value
Other current transfers received by households, value
Social security contributions by households, value
Subsidies, value
Total direct taxes, value
Direct taxes on business, value
Cyclically adjusted direct taxes on business, value
Direct taxes on business, value, mainland
Direct taxes on business, value, offshore
Direct taxes on households, value
Cyclically adjusted direct taxes on households, value
Other direct taxes, value
Unit labour cost in total economy
Unit labour cost in the manufacturing sector
Competitiveness indicator, relative unit labour costs manufacturing sector, overall weights
Unemployment, level
Unemployment rate
Velocity of money
Wages, value
Wages of the government sector, value
Wage rate of the private sector
Real compensation rate of the private sector
Compensation rate of the private sector
Compensation of employees, value
Compensation rate, total economy
Exports of goods and services, value, National Accounts basis
Exports of goods and services, value, National Accounts basis, USD
Exports of goods and services, volume, National Accounts basis
Exports of goods and services, volume, USD, 2005 prices
Export market for goods and services, volume, USD, 2005 prices
Export performance for goods and services, volume
Factor income from abroad, value, balance of payments basis
Factor income from abroad, value in USD, bop basis
Net household disposable income, value
Gross household disposable income, value
Net household disposable income, real
Gross household disposable income, real
Net self-employment and property income received by households, value
Gross self-employment and property income received by households, value
Property income received by households, value
Property income paid by government, value
Property income paid by government, excluding interest payments, value
Property income received by government, value
Property income received by government, value, mainland
Property income received by government, value, offshore
41
Economic Outlook database inventory
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
FS
YPERGX
YPG
YPGA
YPGQ
YPGQA
YPGT
YPGTQ
YPGTQU
YPGTU
YPGTXQ
U
YPGTXU
YPGX
YPGXA
YPH
YRG
YRGA
YRGQ
YRGQA
YRGT
YRGTQ
YRGTQU
YRGTU
YRGX
YRH
YRH_ADJ
YRH_G
YSE
YSE_G
ZCS001
ZCS002
ZCS009
ZCS015
ZCS016
Property income received by government, excluding interest receipts, value
Current disbursements, general government, value
Cyclically adjusted current disbursements, general government, value
Current disbursements, general government, as a percentage of GDP
Cyclically adjusted government current disbursements, as a percentage of potential GDP
Total disbursements, general government, value
Total disbursements, general government, as a percentage of GDP
Underlying government current disbursements, as a percentage of potential GDP
Underlying total disbursements, general government, value
Underlying government current disbursements excluding interest, as a percentage of
potential GDP
Underlying current disbursements excluding interest, general government, value
Current disbursements excluding gross interest payments, general government, value
Cyclically adjusted current disbursements excluding interest, general government, value
Current disbursements of households, value
Current receipts, general government value
Cyclically adjusted current receipts, general government, value
Government current receipts, as a percentage of GDP
Cyclically adjusted current receipts, general government, as a percentage of potential GDP
Total receipts, general government, value
Total receipts general government, as a percentage of GDP
Underlying current receipts, general government, as a percentage of potential GDP
Underlying total receipts, general government, value
Current receipts excluding gross interest receipts, general government, value
Net current receipts of households, value
Net compensation of employees received, rest of the world, value
Gross current receipts of households, value
Self-employment income received by households, value
Gross self-employment income received by households, value
Country- specific variable number 1
Country- specific variable number 2
Country- specific variable number 9
Country- specific variable number 15
Country- specific variable number 16
42
Economic Outlook database inventory
Country-specific variables
4.2
Nr.
Variable code Country Description
code
GDPCSA
GDPVCSA
AUT
DEU
FIN
FRA
NZL
AUT
DEU
IRL
AUS
AUT
BEL
CAN
CHE
CZE
DEU
DNK
ESP
EURO
FIN
FRA
GBR
GRC
HUN
IRL
ISL
ITA
JPN
KOR
LUX
MEX
NLD
NOR
NZL
POL
PRT
SVK
SWE
TUR
USA
338
IRS
AUS
AUT
BEL
CAN
CHE
CZE
DEU
DNK
ESP
EURO
Gross Domestic Product at current prices, original data
Gross Domestic Product at current prices, original data
Gross Domestic Product at current prices, original data
Gross Domestic Product at current prices, original data
Gross Domestic Product at constant price, output approach
Real gross Domestic Product at current prices, original data
Real gross Domestic Product at current prices, original data
interest rate on:
10-year government bonds
10-year government bonds (from 1990 onwards). Public sector bonds of more than 1 year maturity (up to
1989)
central government bonds (more than 5 years)
Benchmarks 10-year long-term government bonds
confederation government bonds (more than 5 years)
Long-term interest rate on government bonds
9-10 year public sector bonds (from 1990 onwards)
10-year central government bonds
government bonds (more than 2 years)
Long-term interest rate on government bonds
10-year government bonds
10-year benchmark government bonds
10-year government bonds
10 year government bonds yield
90-days government bonds
10-year government bonds
non-indexed secured loans
9-10-year government bonds (from 1992 onwards), government bonds more than 2 years (up to 1991)
10-year government bonds
5 year government bonds
Long-term interest rate on government bonds
1-year treasury certificates
10-year government bonds (most recent one)
6-10 year govt bonds before 1993 and 10-years govt bonds from 1993 onwards.
10-year government bonds
10 year govt bonds
10-year government bonds
Average yield (% p.a.) on two-year Government bonds
10-year government bonds
6-month to 1-year government bills
10-year government bonds
interest rate on:
90-day bank accepted bills
3-month inter-bank rate (from 1990 onwards), day-to-day money (up to 1989)
3-month treasury certificates
BBA LIBOR: BBA fixing of the London InterBank Offered Rate
3-month inter-bank rate (LIBOR)
3-month inter-bank rate (PRIBOR)
3-month FIBOR
3-month inter-bank rate
3-month inter-bank loans
Before Jan 99 synthetic euro area rates calculated on the basis of national rates weighted by GDP. From
Jan 99, euro inter-bank offered rates (EURIBOR).
43
Economic Outlook database inventory
340
341
347
ZCS001
ZCS002
ZCS009
352
353
ZCS015
ZCS016
FIN
FRA
GBR
GRC
HUN
IRL
ISL
ITA
JPN
KOR
LUX
MEX
NLD
NOR
NZL
POL
PRT
SVK
SWE
TUR
USA
FRA
CAN
DEU
JPN
USA
USA
3-month inter-bank rate (HELIBOR)
3-month PIBOR (FROM 01/87)
3-month inter-bank rate
12 month treasury bills
90-day treasury bills
3-month fixed inter-bank rate (from 1984 onwards)
90-day treasury bills, 91-day exchequer bills (up to 1983)
3-month inter-bank deposits (from 1979 onwards), inter-bank rate (up to 1978)
3-6 month cd (from 1980 onwards), 3 month Gensaki rate (up to 1979)
3-month CD rate
Short-term interest rate
3-month federal treasury bills
3-month inter-bank rate (AIBOR)
3-month inter-bank rate (NIBOR)
90-day bank bills (benchmark bond on 15 July 2009)
3 month inter-bank rate (WIBOR)
86-96 days inter-bank rate
3-months BRIBOR (Bratislava Inter-bank Offered Rates & monthly average)
3-month treasury discount notes
Overnight inter-bank rate
3-month LIBOR
Residual between TRSSH and SSRG
Current transfers households to non-residents, value
National contribution to the Desert Storm
National contribution to the Desert Storm
State & Local receipts of dividend
Offset between Federal and State&Local capital transfers
44
Economic Outlook database inventory
5.
DATA SOURCES
See Sources and Methodes :
http://www.oecd.org/document/14/0,3343,en_2649_34109_1847822_1_1_1_1,00.html.
45
Economic Outlook database inventory
6.
COUNTRY AND REGIONS CODES
6.1.
Country code, Country,Weight National currency and its respective ISO 8 code July 2009
Country area
8
Currency
Code
AUS
Name
Australia
Singular
Australian dollar
Plural
Australian dollars
Code
AUD
AUT
Austria
Austrian Euro
Austrian Euros
EUR
BEL
Belgium
Belgium Euro
Belgium Euros
EUR
CAN
Canada
Canadian Dollar
Canadian dollars
CAD
CHL
Chile
Chilean Peso
Chilean Pesoa
CLP
CZE
Czech Republic
Czech Koruna
Czech Koruny
CZK
DNK
Denmark
Danish Krone
Danish Kroner
DKK
FIN
Finland
Finish Euro
Finish Euros
EUR
FRA
France
French Euro
Finish Euros
EUR
DEU
Germany
Deutsche Euro
Deutsche Euros
EUR
GRC
Greece
Greek Euro
Greek Euros
EUR
HUN
Hungary
Hungarian Forint
Hungarian Forints
HUF
ISL
Iceland
Iceland Króna
Iceland Krónur
ISK
IRL
Ireland
Irish Euro
Irish Euros
EUR
ITA
Italy
Italian Euro
Italian Euros
EUR
JPN
Japan
Yen
Yen
JPY
KOR
Korea Republic
South Korean Won
South Korean Won
KRW
LUX
Luxembourg
Luxembourg Euro
Luxembourg Euros
EUR
MEX
Mexico
Mexican Peso
Mexican pesos
MXN
NLD
Netherlands
Netherlands Euro
Netherlands Euros
EUR
NZL
New Zealand
NZ Dollar
NZ-dollars
NZD
NOR
Norway
Norwegian Krone
Norwegian Kroner
NOK
POL
Poland
Zloty
Zlotys
PLN
PRT
Portugal
Potuguese Euro
Potuguese Euros
EUR
SVK
Slovak Republic
Slovak Euro
Slovak Euros
EUR
Codes for the representation of names of countries, ISO 3166 Fourth Edition, 1993-12-15
46
Economic Outlook database inventory
ESP
Spain
Spanish Euro
Spanish Euros
EUR
SWE
Sweden
Swedish Krona
Swedish Kronor
SEK
CHE
Switzerland
Swiss Franc
Swiss Francs
CHF
TUR
Turkey
Turkisk Lira
Turkish Liras
TRL
GBR
United Kingdom
Pound Sterling
Pounds Sterling
GBP
USA
United States
US Dollar
US Dollars
USD
EA13
Euro area
Euro
Euros
EUR
Non-Member Economies
EST
Estonia
Kroon
Estonian Krooni
EEK
ISR
Israel
New Israeli Sheqel
New Israeli Sheqels
ILS
SVN
Slovenia
Slovenian Euro
Slovenian Euros
EUR
BRA
Brazil
Brazilian Real
Brazilian Reais
BRL
RUS
Russian Federation
Russian Ruble
Russian Rubles
RUB
IND
India
Indian Rupee
Indian Rupees
INR
CHN
China
Yuan Renminbi
Yuan Renminbi
CNY
IDN
Indonesia
Rupiah
Rupiahs
IDR
ZAF
South Africa
Rand
Rands
ZAR
The code corresponds with the 3-letters ISO code, except for EUEO.Base year used for expenditures and other national account series. Base year used for trade series and for some other series is 2005.
Weight in GDP of total OECD in 2005, on the basis of purchasing power parities.
In most series, there is a break in 1991. Data up to end-1990 are for western Germany only and from 1991 onwards for total Germany. Main
exceptions are the foreign trade (customs basis) series, which are total Germany for the whole period.
47
Economic Outlook database inventory
6.2.
OECD and non-OECD region codes
DAE
OOP
RWD
AFM
ANC
ASO
BIG7
EA12
EUR
EUR4
EURO
EURS
G7M
LAT
LITL
NORAM
SEE
Dynamic Asian Economies(Chinese Taipei, Hong Kong, Malaysia, the
Philippines, Singapore, Thailand, Vietnam)
Other oil producers (Azerbaijan, Kazakhstan, Turkmenistan, Brunei,
Timor-Leste, Bahrain, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi
Arabia, United Arab Emirates, Yemen, Ecuador, Trinidad and Tobago,
Venezuela, Algeria, Angola, Chad, Rep. of Congo, Equatorial Guinea,
Gabon, Nigeria, Sudan)
Rest of the World
Africa and Middle East
Dynamic Asian Economies (Chine Taipei; Hong Kong, China;
Indonesia; Malaysia; the Philippines; Singapore and Thailand)
Other Asia (non-OECD Asia and Oceania, excluding China, ANCs
and the Middle East)
7 major OECD countries
OECD Euro area of twelve
23 OECD European countries
4 major European countries (GBR,FRA,DEU,ITA)
Euro area
18 smaller OECD European countries
7 major OECD countries
Central and South America
23 smaller OECD countries
NAFTA
Central and Eastern Europe
New
New
New
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
No longer available
OECD, EA13 and G7M: change in data availability
Aggregate
EA13
G7M
Series no longer available
CAPOG, CFKG, CGAA, CGNW, CGW, GGFLM, GGINTP, GGINTR, GNINTP, IGAA,
KTRMOB, NLG, NLGA, NLGU, NLGX, NLGXA, NLGXU, SAVG, SSPG, SSRG, SSRGA,
TIND, TINDA, TKPG, TKPGU, TKTRG, TKTRGU, TOCP, TOCR, TPGOE, TRGOE, TSUB,
TY, TYB, TYBA, TYHA, YPEPG, YPEPGX, YPERG, YPERGX, YPG, YPGA, YPGT, YPGTU,
YPGTXU, YPGX, YPGXA, YRG, YRGA, YRGT, YRGTU, YRGX
BSIID, CBD, CBRD, ET, FBGSD, GDP, GGFLQ, GNFLQ, GNINTQ, IBV, IHV, LF, MSIID,
NLGCQ, NLGQA, NLGXQ, NLGXQA, NTRD, PCG, PCP, PDTY, PGDP, PIT, PMGS, POPT,
PTDD, PXGS, ULC, UN, WSSE, XSIID
Labour market data expressed in levels are available from 1995 onwards.
48
Economic Outlook database inventory
7.
REGIONAL AGGREGATES
In the OECD Economic Outlook 87, new aggregation techniques have been applied to construct the
OECD area (31 countries including Chile) and the OECD euro area (13 OECD countries that are
gmembers of Euro area). The new approach aims to better handle issues arising from evolving composition
of these areas and different data availability across countries. The main changes are a switch from a fixed
weighting scheme to moving weighting schemes for OECD and the direct aggregation of ratios, rather than
computing them as ratios of aggregated components. Consequently, a number of series expressed in levels
differ from the series previously published, while others are no longer available, particularly some
government and labour market data.
Concerning the aggregation of world trade, a new composition has been introduced, since projections
are now made for the major non-OECD economies. Thus, besides OECD and the OECD euro area, the
following new regions are available: Dynamic Asian Economies (Chinese Taipei, Hong Kong, Malaysia,
the Philippines, Singapore, Thailand, Vietnam); Oil Producers (Azerbaijan, Kazakhstan, Turkmenistan,
Brunei, Timor-Leste, Bahrain, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, United Arab
Emirates, Yemen, Ecuador, Trinidad and Tobago, Venezuela, Algeria, Angola, Chad, Rep. of Congo,
Equatorial Guinea, Gabon, Nigeria, Sudan); with the remaining countries in a residual "rest of the World"
group.
Summary of changes in data availability are reported in the Annex.
For more information, see the Economic Outlook Sources and Methods (available from end-June
2010)
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Economic Outlook database inventory
8.
KEY INTERNATIONAL AGGREGATES
8.1
Export market for goods and services, volume, US$, 2005 prices (XMKT)
XGS
⎛ N
⎞
i→ p
⎜
⎟
XMKT = ∑
* MGSVD
⎟
p
i ⎜
XGS
wld → p
⎝ p =1
⎠
XMKT = export market of country i
i
where:
XGS
= goods and services exports values in 2005 from country i to country p
i→ p
XGS
wld → p
= global goods and services exports values in 2005 to country p
MGSVD = import volume of country p, expressed in 2000 US$
p
8.2
Price of non commodity exports (imports) of goods and services, (PXGSX (PMGSX))
(
)
(
⎛ log PXGS − wxn × log PXNW
i
i
i
⎜
⎜
1 − wxn
i
PXGSX = exp ⎝
i
where:
)⎞⎟
⎟
⎠
wxn = Weight of commodities in goods and services exports of country i
i
PXNW = Prices of Commodity exports of country i
i
8.3
Shadow Price of non-commodities goods and services imports (PMSHX)
⎛ N XGS p → i
⎞
1
PMSHX = ⎜ ∑
* PXGSX * EXCHIN ⎟ *
p
p
i ⎜
⎟
EXCHIN
XGS
i
wld → i
⎝p = 1
⎠
where:
XGS
p→i
PXGSX p
= good and services exports values in 2005 from country p to country i
= non-commodity good and services export price for country p, 2005=1
50
Economic Outlook database inventory
EXCHIN : exchange rate for country p, index 2005=1
p
8.4
Competitor’s prices of non commodity goods and services exports (PXCX)
⎞
⎛
⎟
⎜
XGSi → p
⎟
⎜ N
N
1
1
PXCXi = ⎜ ∑
*
* ∑ XGSr → p * PXGSXr * EXCHINr ⎟ *
⎟ EXCHINi
⎜ p = 1 XGSwld → p − XGSi → p XGSi → wld r = 1
⎟
⎜
r ≠ i, p
⎠
⎝ p ≠i
8.5
Competitor’s prices of goods and services exports (PXC)
⎞
⎛
⎟
⎜
XGS
N
⎟
⎜ N
i→p
1
1
PXC = ⎜ ∑
*
* ∑ XGS
* PXGS * EXCHIN ⎟ *
r→p
r
r EXCHIN
i
⎟
⎜ p = 1 XGSwld → p − XGSi → p XGSi → wld r = 1
i
⎟
⎜
r ≠ i, p
⎠
⎝p≠i
8.6
Consistency adjustment series for non-factor services exports, volume
⎧
⎛ ∑ MGSVDi [t ] ⎞
⎜ i ⊂ wld
⎟
⎪
⎜
⎟
⎪
⎜ ∑ MGSVDi [t − 1] ⎟
⎪
i ⊂ wld
⎠
⎪= Xvrasi [t − 1] × ⎝
⎛ ∑ XGSVDi [t ] ⎞
Xvrasi [t ] = ⎨
⎜ i ⊂ wld
⎟
⎪
⎜
⎟
⎪
⎜ ∑ XGSVDi [t − 1] ⎟
⎪
⎝ i ⊂ wld
⎠
⎪= 1 pour t = 0
⎩
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Economic Outlook database inventory
8.7
World prices, Goods and services, USD
⎧
⎪Wld .PXGSD[t ] =
⎪
⎪
⎨
⎪
⎪Wld .PXGSD[t ] =
⎪
⎩
8.8
∑ XGSD [t ]
∑ XGSVD [t ]
i
i ⊂ wld
i
i ⊂ wld
∑ MGSD [t ]
∑ MGSVD [t ]
i
i ⊂ wld
i
i ⊂ wld
RAS adjustment series imports prices
⎧
⎛ Wld .PXGSD[t ] ⎞
⎜⎜
⎟⎟
⎪
−
.
[
1
]
Wld
PXGSD
t
⎝
⎠
⎪⎪= Pmrasi [t − 1] ×
⎛ Wld .PMGSD[t ] ⎞
Pmrasi [t ] = ⎨
⎜⎜
⎟⎟
⎪
⎝ Wld .PMGSD[t − 1] ⎠
⎪
⎪⎩= 1 pour t = 0
8.9
Nominal effective exchange rate, constant trade weights
exchi [indice,2005]
EXCHEi [t ] =
8
exp
∑Ω
p ⊂ wld
p ≠i
8.10
i, p
log(exchp [indice,2005])
Goods and services trade volume, USD , 2005 prices(TGSVD)
TGSVDi [t ] = 0.5 × XGSVDi [t ] + 0.5 × MGSVDi [t ]
7.11
Share of country’s trade in the world trade (SHTGSVD)
SHTGSVDi [t ] =
TGSVDi [t ]
∑ TGSVD p [t ]
p ⊂ wld
8.12
Contribution to world trade volume (CTGSVD)
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Economic Outlook database inventory
CTGSVDi [t ] =
TGSVDi [t ] − TGSVDi [t − 1]
∑ TGSVD p [t − 1]
p ⊂ wld
8.13
Shares in world exports (XSHA) and imports (MSHA)
XGSDi [t ]
⎧
⎪ XSHAi [t ] =
∑ XGSD p [t ]
⎪⎪
p ⊂ wld
⎨
⎪MSHA [t ] = MGSDi [t ]
i
⎪
∑ MGSD p [t ]
⎪⎩
p ⊂ wld
9.
ELECTRONIC DATA PRODUCTS BASED ON THE OUTLOOK DATABASE
9.1.
OECD.Stat: the OECD Data Warehouse
The Economic Outlook databases are available in the OECD Data Warehoues OECD.Stat, under the theme
“Economic Projections”, “OECD Economic Outlook”. Past and recent issues of the Economic Outlook, as
well as the most recent flsahfile databases, are presented. From issue 60, data can be extracted in the
different formats proposed by the browser. For technical reasons, issues up to 59, are only available as pdf
files, or as zipped excel files.
OECD OLIS subscribers may access the OECD.Stat through their usual contact with access to all
publishable databases including quarterly data. The former electronic products (the CSV and the B2020
files) are still available and can be downloaded by clicking on the related files icon (see the scheme below).
Occasional external users may find a subset of the database on an annual basis available free at
http://stats.oecd.org/Index.aspx.
.
The following points should be borne in mind when using data :
• Depending on the countries and the variables, data are shown from 1960 onwards, however users
should be aware that most of the long time series are constructed using different vintages of data
and older information is subject to caution;
•
Historical data correspond to the data available at the date of the cut-off-day for the respective
Economic Outlook, and may diverge from data present in other OECD data sets which are
updated on a more regular basis;
53
Economic Outlook database inventory
•
The list of variables may differ from one edition to the next, following changes in concepts,
suppression/addition of indicators;
•
Publication of variables (mainly on a quarterly basis) is subject to a quality review at each issue.
9.2.
Structure of the Economic Outlook database in OECD.Stat
Dimension
Data are viewed according to three dimensions: Country, Variable and Time & Frequency.
Since the Economic Outlook 83, more than 200 variables are impliciyly presented in ten different
economic blocks. The blocks are in the following order:
EXT: External sectors, trade and payments
GOV Government accounts
EXP: expenditure and GDP
SUP: Supply block
HOU: Household sector accounts
PRI: Prices and deflators
LAB: Labour markets
FIN: Financial accounts
OIL: Oil and commodities
SPE: Specific variables
Units
Quarterly series are seasonally adjusted and working-days adjusted are presented at annual rates. Volume
and value data are expressed in units of local currency or USD, except for aggregates as explained in a
previous chapter. Certain of these aggregates are in index form with 2005=1.Labour force data are
expressed as number of persons. Prices and indices are based on 100 and vary as to base year depending on
national conventions. Balance of payements and trade prices and indices are based on 2005=100.
Metadata
Metadata associated to each series are gradually introduced. They are not yest available in the free data
base.
9.3 Contact
For more information please contact ECO.Outlook@oecd.org.
54