Implementation and coordination of macroeconomic statistics in EU and euro area countries John Verrinder Eurostat.

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Presentation transcript:

Implementation and coordination of macroeconomic statistics in EU and euro area countries John Verrinder Eurostat

Two statistical systems in Europe European Statistical System (ESS – all EU MSs) To be covered in this presentation. European System of Central Banks (ESCB) To be covered by the presentation of Gabriel Quiros tomorrow. Both systems produce macroeconomic statistics – there are coordination mechanisms between them! 2

The European Statistical System A system based on European law …but also national level laws European Treaty EU statistical law – Regulation 223/2009 Legal acts for specific policy areas 3

Regulation 223/2009 Framework regulation, covering: General provisions (incl. confidentiality) Statistical governance (= ESS, code of practice, cooperation) Statistical production (work programme) Dissemination Statistical confidentiality 4

The Institutional Structures of the ESS Top level – ESS Committee Director generals of NSIs plus Eurostat Director level – Director's Groups Directors in broad subject areas Technical level – Working Groups Technicians in more specific subjects 5

The system for macroeconomic statistics ESS Committee (coordination and legislative role) Directors of Macroeconomic Statistics (DMES) Working Groups (>>Task Forces, Expert Groups) National Accounts Working Group EDP Statistics Working Group Prices Working Group, etc 6

The European System of Accounts (ESA 2010) The European version of the worldwide SNA standards EU Regulation = directly applicable in the Member States 7

The ESA transmission programme Member States compile their national data according to common standards Transmission programme establishes legal obligations for MSs to transmit data to Eurostat Specified tables of variables, time series and deadlines for transmission 8

Government Finance Statistics Detailed data (quarterly and annual) part of the ESA 2010 transmission programme Separate data collection for EDP purposes (specific legal base) See presentation tomorrow for more information… 9

Prices Harmonised Index of Consumer Prices (HICP) Very detailed legal basis Includes transmission modalities Purchasing Power Parities Many Member States retain national consumer price indexes in addition… 10

Areas shared between ESS/ESCB Financial Accounts and Balance of Payments statistics Importance of close cooperation Role of the Committee on Monetary, Financial and Balance of Payments Statistics (CMFB) 11

Concluding remarks The ESS is a statistical system based on law Member States have primary responsibility for data production; legal requirements for transmission Eurostat coordinates methodology, in cooperation with Member States and other institutions 12

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