Meaningful Information for Domestic Economies in the Light of Globalization – Will Additional Macroeconomic Indicators and Different Presentations Shed Light?

Silke Stapel-Weber, Paul Konijn, John Verrinder and Henk Nijmeijer

No 24859, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Globalisation presents significant statistical challenges, particularly for small and open economies in terms of measuring macroeconomic level and growth indicators and communicating the results in a meaningful way. In the aftermath of the so-called “Irish case”, Eurostat with its partners in the European Statistical System is looking into how, within the existing accounting frameworks, additional indicators and presentations of the accounts that allow users to follow domestic and global developments could be conceived. The work takes account of recommendations which have been developed by a high level group in Ireland for improving insight into the Irish economy2. However it goes beyond that, as any new indicator or breakdown, particularly in a European context, should be comparable across countries and not be seen as a GDP or GNI "a la carte" for each country to choose from under specific circumstances. The paper presents the findings of the respective European work streams to date in terms of methodology, indicators, building new statistical infrastructural elements and new cooperation models between statistical compilers. It invites a critical review of the suggestions put forward.

JEL-codes: E01 (search for similar items in EconPapers)
Date: 2018-07
New Economics Papers: this item is included in nep-eec and nep-mac
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Published as Meaningful Information for Domestic Economies in the Light of Globalization: Will Additional Macroeconomic Indicators and Different Presentations Shed Light? , Silke Stapel-Weber, Paul Konijn, John Verrinder, Henk Nijmeijer. in Challenges of Globalization in the Measurement of National Accounts , Ahmad, Moulton, Richardson, and van de Ven. 2023

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