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A revised weighting scheme for the international environment projections

Author

Listed:
  • Balatti, Mirco
  • Hanheide, Philipp

Abstract

The September 2020 ECB staff macroeconomic projections used a revised weighting scheme for the euro area’s trading partners. Two key conceptual changes were implemented in the weighting scheme this year. First, data on trade in services were used in addition to data on trade in goods. Second, the number of euro area trading partners was increased from 30 to 42. As a result of these changes, the coverage of the euro area’s foreign demand by individual country data increased from 85% to 92%, with the remaining countries covered by regional aggregates. JEL Classification: E50, E66, F01, F17

Suggested Citation

  • Balatti, Mirco & Hanheide, Philipp, 2020. "A revised weighting scheme for the international environment projections," Economic Bulletin Boxes, European Central Bank, vol. 7.
    • Handle: RePEc:ecb:ecbbox:2020:0007:1
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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2020/html/ecb.ebbox202007_01~30da4fc9fc.en.html
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    More about this item

    Keywords

    global aggregates; International environment; trade weights;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F01 - International Economics - - General - - - Global Outlook
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

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