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Estimating gross value added volumes and prices by institutional sector

Author

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  • Kavonius, Ilja Kristian
  • Wieland, Elisabeth

Abstract

Integrated quarterly sector accounts (QSA) provide an analytical tool to understand the generation, allocation and use of income for all institutional sectors in the economy. They also provide a tool to analyse production from a sectoral point of view instead of an industry point of view. However, since QSA are published in current prices only, sectoral volume and price measures are lacking as an important toolkit for economic analysis and forecasting, notably in the case of gross value added. This paper introduces a methodology to estimate sectoral price and volume measures for euro area value added at a quarterly frequency and provides a comparison of alternative estimation methods. It presents a benchmark method which yields robust estimates of sectoral volumes and prices in the euro area. JEL Classification: C33, C82, E01, E30

Suggested Citation

  • Kavonius, Ilja Kristian & Wieland, Elisabeth, 2016. "Estimating gross value added volumes and prices by institutional sector," Statistics Paper Series 14, European Central Bank.
    • Handle: RePEc:ecb:ecbsps:201614
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    File URL: https://www.ecb.europa.eu//pub/pdf/scpsps/ecbsp14.en.pdf
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    References listed on IDEAS

    as
    1. Zlatina Balabanova & Ruben van der Helm, 2015. "Enhancing euro area capital stock estimates," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Indicators to support monetary and financial stability analysis: data sources and statistical methodologies, volume 39, Bank for International Settlements.
    2. Richard Stone & D. G. Champernowne & J. E. Meade, 1942. "The Precision of National Income Estimates," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 9(2), pages 111-125.
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    Cited by:

    1. Garidzirai Rufaro & Muzindutsi Paul-Francois, 2020. "A Panel ARDL Analsis of the Productivity of Key Economic Sectors Contributing to Local Economic Growth in an Emerging Country," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 65(1), pages 39-53, April.

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    More about this item

    Keywords

    institutional sector; national accounts; price; production account; value added; volume;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)

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