Data Sharing Werner Bier Deputy Director-General Statistics European Central Bank Inter-Agency Group on Economic and Financial Statistics (IAG) G-20 Data Gaps Initiative Laurs Nørlund Director - National Accounts, Prices and Key Indicators Eurostat - European Commission

Outline Background Guidelines for the pilot projects Infrastructure – Common templates – Common protocols Pilot projects Progress achieved and forthcoming initiatives – national accounts – sectoral accounts – real estate prices

Background Policy needs – Multilateral exercises – … General objectives – reduce reporting burden of national authorities – more efficient use of resources in international organisations (IOs) – ensure data are identical and of the highest quality in the databases of IOs – improve data dissemination to users globally SDMX – clear rules and responsibilities for data exchange and validation OECD, ESTAT and ECB task force – reduce data discrepancies in the public domain – gain efficiency

Guidelines for the pilot projects 1.Common statistical concepts and definitions 2. Globally harmonised reporting templates 3.Global data sharing (focus on published data) 5.Coordinated data flow 4.Single point for data quality management

A possible data sharing model EU OECD other than EU World other than OECD World other than OECD Eurostat - ECB OECD IMF, UN, WB, ILO, BIS, other IOs USERSUSERS USERSUSERS

Infrastructure Statistical standards – SNA 2008 / BPM6 / international manuals Common templates – NA main aggregates / sector accounts / BoP Frequency and timeliness Harmonised protocols – SDMX / Data Structure Definitions Data quality management

Pilot project Way forward Test the feasibility Set up a Task Force Scope – GDP and main aggregates – Sectoral accounts Deliverables: – Templates – Co-ordinates and consistent workflow – Timetable for execution

Stocktaking Stocktaking of practices, problems and expectations Peer review validation Peer review of current validation routines; identification of gaps and minimum checks prior dissemination Workflow Exploring exchange of non-validated data (timeliness) and restricted data (embargo/ not for publication/ confidential) SLA OECD - ESTAT service level agreement signed by DGs Implementation Implement and test agreed improved validation and data exchange procedures Progress achieved (1) National Accounts

Progress achieved (2) Sectoral accounts Integration financial and non financial accounts Frequency and timeliness Common template National Accounts Data Structure Definition

Progress achieved (3) Real estate price statistics Methodological framework – RPPI Handbook Harmonised production in Europe

Progress achieved (3) Real estate price statistics Definition of the template Establish a common Data Structure Definition – within price statistics Project on Commercial Property Price Indicators – Handbook

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