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International Seminar on Early Warning and Business Cycle
Indicators
Session 4The role of composite indicators in tracking
the Business CycleGeert Bruinooge
Statistics Netherlands
Discussion 1
• Is there a need for two types of composite indicators (leading and coincidental)?
• Or can we use just one composite indicator ( a combination of leading, coincidental and lagging components)?
Discussion 2
• Do we need a fixed set of criteria for the selection of components for all countries to enhance co-ordination and comparability?
Discussion 3
• Is it possible to define a minimum set of components to be included in all Leading Indicators and Coincidental Indicators?
• Or are the economic situations so divers that no minimum set can be defined?
Discussion 4
• Is an explicit statistical and econometric model not preferable above the use of individual models?
• Weighing: a model that takes into account the contributions of each component might be better.
Discussion 5
• NSI’s should concentrate on monthly indicators which actually measure general economic activity instead of on CLI’s.
Discussion 6
• How to improve the early detection of turning points?
• How to measure the robustness of growth?
• Dow we need to develop International Guidelines on Composite Indicators of the economic cycle?