Constructing Historical Euro-Zone Data

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

No 4, Economics Series Working Papers from University of Oxford, Department of Economics

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 ‘Divisia-style’ approach, we first compute growth rates within states, aggregate these, then cumulate this Euro-zone growth rate to obtain the aggregated levels variables. The aggregate of the implicit-deflator price index coincides with the implicit deflator of our aggregate nominal and real data. We investigate the properties of this growth-rate method for aggregation, and construct Euro-zone measures for M3, GDP and prices over the previous two decades.

Keywords: European Monetary Union; data aggregation; Divisia approach (search for similar items in EconPapers)
JEL-codes: C43 C82 (search for similar items in EconPapers)
Date: 2000
View citations in EconPapers

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Constructing Historical Euro-Zone Data (2000)
Journal Article: Constructing Historical Euro-Zone Data (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:oxf:wpaper:004

Access Statistics for this paper

More papers in Economics Series Working Papers from University of Oxford, Department of Economics
Contact information at EDIRC.
Series data maintained by Mark George ().