Constructing Historical Euro-Zone Data

Andreas Beyer (), Jurgen A. Doornik and David F. Hendry ()

Economics Working Papers from European University Institute

Abstract: Existing methods of reconstructing historical Euro-zone data by aggregation of the individual countries' data raises numerous difficulties due to past exchange rate changes. The approach proposed here is designed to avoid such distortions, and aggregate exactly when exchange rates are fixed. In a simple 'Divisa-style' approach, we first compute growth rates within states, aggregate these, them cumulate this Euro-zone growth rate to obtain the aggregated levels variables. We investigate the properties of this growth hrate method for aggregation and construct Euro-zone measures for M3, GDP and prices over the previous two decades.

Keywords: EUROPE; ECONOMIC HISTORY (search for similar items in EconPapers)
JEL-codes: N14 N13 N00 O52 (search for similar items in EconPapers)
Date: 2000
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Related works:
Journal Article: Constructing Historical Euro-Zone Data (2001)
Working Paper: Constructing Historical Euro-Zone Data (2000)
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Persistent link: http://EconPapers.repec.org/RePEc:eui:euiwps:eco2000/10

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