Implementation and coordination of macroeconomic statistics in EU and euro area countries

John VerrinderEurostat

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Two statistical systems in Europe

European Statistical System (ESS – all EU MSs)• To be covered in this presentation.

European System of Central Banks (ESCB)• To be covered by the presentation of Gabriel

Quiros tomorrow.

Both systems produce macroeconomic statistics – there are coordination mechanisms between them!

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The European Statistical System

A system based on European law…but also national level laws

European Treaty

EU statistical law – Regulation 223/2009

Legal acts for specific policy areas

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Regulation 223/2009

Framework regulation, covering:

• General provisions (incl. confidentiality)• Statistical governance (= ESS, code of practice,

cooperation)• Statistical production (work programme)• Dissemination• Statistical confidentiality

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The Institutional Structures of the ESS

Top level – ESS CommitteeDirector generals of NSIs plus Eurostat

Director level – Director's GroupsDirectors in broad subject areas

Technical level – Working GroupsTechnicians in more specific subjects

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The system for macroeconomic statistics

ESS Committee (coordination and legislative role)

Directors of Macroeconomic Statistics (DMES)

Working Groups (>>Task Forces, Expert Groups)National Accounts Working GroupEDP Statistics Working GroupPrices Working Group, etc

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The European System of Accounts (ESA 2010)

The European version of the worldwide SNA standards

EU Regulation• = directly applicable in the

Member States

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The ESA transmission programme

Member States compile their national data according to common standards

Transmission programme establishes legal obligations for MSs to transmit data to Eurostat

Specified tables of variables, time series and deadlines for transmission

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Government Finance Statistics

Detailed data (quarterly and annual) part of the ESA 2010 transmission programme

Separate data collection for EDP purposes (specific legal base)

See presentation tomorrow for more information…

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Prices

Harmonised Index of Consumer Prices (HICP)Very detailed legal basisIncludes transmission modalities

Purchasing Power Parities

Many Member States retain national consumer price indexes in addition…

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Areas shared between ESS/ESCB

Financial Accounts and Balance of Payments statistics

Importance of close cooperation

Role of the Committee on Monetary, Financial and Balance of Payments Statistics (CMFB)

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Concluding remarks

The ESS is a statistical system based on law

Member States have primary responsibility for data production; legal requirements for transmission

Eurostat coordinates methodology, in cooperation with Member States and other institutions