CoverGovernment finance statistics — Summary tables — volume 2/2019

The tables in this publication present government finance statistics (GFS) data by Member State, for the EU-28, for the euro area and for Iceland, Norway and Switzerland. The GFS presentation shows, in an integrated way: government revenue, government expenditure, government deficit, transactions in assets and in liabilities, other economic flows, and balance sheets. It gives a clear picture of the links between these data. The publication is intended primarily for national governments, Central Banks, economic analysts and academics with an interest in government finance, although it could also be of interest to the wider public. The value-added in comparison with other publications is to give an overview of government finances from several angles with consistent information. The publication covers data since 1995. [+]

CoverManual on sources and methods for the compilation of COFOG statistics - Classification of the Functions of Government (COFOG) — 2019 edition
This manual has been developed and agreed by the Task Force on COFOG in response to an increasing interest in high quality, comparable statistics on government expenditure broken down by purpose, according to the Classification of the Functions of Government (COFOG). It is its third edition. The manual covers user requirements, the analytical framework, methodological guidance, links with other international statistics, and countries' compilation practices. In comparison to previous editions, the manual was completely updated, most importantly to reflect the ESA 2010 (European System of Accounts) framework. Further guidance is given by the addition general guidance on the recording of consumption of fixed capital on own-account research and development (R&D) and correspondences among the COFOG classification and economic transactions used in the ESA 2010 framework as well as of sixteen new case studies. [+]

CoverQuality report on the balance of payment (BOP), international investment position (IIP), international trade in services (ITS) and foreign direct investment (FDI) — 2019 edition

The purpose of this paper is to present the overview quality report on balance of payments (BOP), international trade in services statistics (ITSS) and foreign direct investment (FDI) statistics for the year 2018, transmitted by the EU and EFTA Member States. The quality assessment has been carried out against the following quality criteria: relevance, accuracy, timeliness and punctuality, accessibility and clarity, comparability and coherence. It covers the data requirements under Regulation (EC) No 184/2005 and the methodology in the 6th edition of the IMF’s ‘Balance of Payments and International Investment Position Manual’ (BPM6). The quality report is updated annually. [+]

CoverReconciliation of EU statistics on income and living conditions (EU-SILC) data with national accounts

The coherence of household survey data with national accounts has been studied extensively in recent years, following the “Beyond GDP” initiatives. This paper compares income aggregates in EU-SILC and national accounts, adjusts for the main conceptual differences, and discusses factors that could influence the observed discrepancies. Following a proposal by Atkinson, Guio and Marlier (2017), sensitivity of key social indicators to the micro/macro-discrepancies is then examined by adjusting the micro data totals to match the reconciled macro aggregates. Three adjustment methods are tested (simple proportional scaling, calibration to margins, Pareto imputation), and their impact on the measures of income inequality and at risk of poverty compared. In line with other studies, the micro/macro gaps are found to vary significantly across countries, and are more substantial in property and self-employment income compared to wages and salaries and transfers received. The observed gaps are likely to be mostly due to measurement errors and conceptual differences. Adjusting the micro data with the gaps results in significant increases in inequality and median income levels, but more subdued changes in at risk of poverty rates. The results are sensitive to the adjustment methods as well as proper assessment of the micro/macro gaps. Caution is warranted if distributional indicators are computed from macro-adjusted micro data. [+]

CoverGovernment finance statistics — Summary tables — volume 1/2019

The tables in this publication present government finance statistics (GFS) data by Member State, for the EU-28, for the euro area and for Iceland, Norway and Switzerland. The GFS presentation shows, in an integrated way: government revenue, government expenditure, government deficit, transactions in assets and in liabilities, other economic flows, and balance sheets. It gives a clear picture of the links between these data. The publication is intended primarily for national governments, Central Banks, economic analysts and academics with an interest in government finance, although it could also be of interest to the wider public. The value-added in comparison with other publications is to give an overview of government finances from several angles with consistent information. The publication covers data since 1995. [+]

CoverCurrent account asymmetries in EU-US statistics — 2019 edition

The EU and the US are the most prominent economic partners in the world. Persistent bilateral asymmetries in their current account statistics remain however a substantial issue that challenges conclusive reading of the data. This paper investigates the causes of current account asymmetries in EU-US statistics, with a particular focus on the bilateral trade in services and primary income flows as the main contributors to the observed asymmetries. It emphasises the complex and multidimensional nature of the asymmetries, and warns of simplistic explanations. Strategies to address the issue thus have to take place on different levels – from bilateral reconciliation efforts among compilers to international coordination, exchange of knowledge, data and compilation practices. [+]

CoverEURONA. Eurostat Review on National Accounts and Macroeconomic Indicators — Issue No 2/2018

EURONA is an open access, peer reviewed, scholarly journal dedicated to National Accounts and Macroeconomic Indicators. EURONA aims at providing a platform for researchers, scholars, producers and users of macroeconomic statistics to exchange their research findings. This second issue of 2018 includes articles on integrated economic accounting standards, inclusion of illegal economic activities, estimating trade flows without asymmetries and the interpolation of Purchasing Power Parities. [+]

CoverQuality report on National and Regional Accounts — 2017 data — 2018 edition

This document presents Eurostat’s assessment of the quality of the national and regional accounts transmitted in the year 2017 by the EU Member States, Iceland, Norway and Switzerland, and information on Eurostat’s publications of European aggregates. The quality report contains the second assessment of results since the start of data transmission according to the European System of Accounts (ESA 2010) on 1 September 2014. In general, data sent in 2017 were broadly in line with the ESS quality standards and the ESA 2010 Regulation. Member States have been able to comply with the new data requirements and methodology, while the process of adapting national data compilation systems will continue until 2020. [+]

CoverGovernment finance statistics — Summary tables — 2018

The tables in this publication present government finance statistics (GFS) data by Member State, for the EU-28, for the euro area and for Iceland, Norway and Switzerland. The GFS presentation shows, in an integrated way: government revenue, government expenditure, government deficit, transactions in assets and in liabilities, other economic flows, and balance sheets. It gives a clear picture of the links between these data. The publication is intended primarily for national governments, Central Banks, economic analysts and academics with an interest in government finance, although it could also be of interest to the wider public. The value-added in comparison with other publications is to give an overview of government finances from several angles with consistent information. The publication covers data since 1995. [+]

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