"Bad times, hard times, this is what people keep saying; but let us live well, and times shall be good. We are the times: Such as we are, such are the times."



Monday, 2 May 2011

OMG OMG OMG NEW EUKLEMS DATA... AAAWWW

When I saw this today I thought, that's it. I'm all statporned-out so clear my schedule. This would only have been THE most crucial database updated at THE most crucial moment.

Unfortunately the latest edition of EUKLEMS still only goes up to 2007, though it does include every kind of data one could possibly want on every European economy and a few more besides. And it does so for each of the 72 industries identified at the 2-digit level of the 2007 Standard Industry Classification (SIC07).

EUKLEMS focuses on tracking the inputs and outputs of industries and accounting for productivity. If you are geeks, read up on the methodology here. If you are only interested in Greece, download the Greek dataset here and the Eurozone aggregate dataset here.

Unfortunately in the case of Greece a lack of appropriate data on the prices of intermediate inputs means that we can't get the full suite of findings. In other countries it is possible to do really impressive things like break down real GDP growth into its constituent parts and account for Total Factor Productivity.

But we will settle for what we can get.

Blast from the past: EUKLEMS reminds me of the stuff I used to write for my old masters the FSSC when I was a carefree wee lad. It was, ironically, co-launched with a trade union. What times.  

7 comments:

  1. isn't this really way-out-there wouldn't-ever-admit-to-it statporn? 2007 was a long time ago surely? and there were really almost no employees in electronic valve manufacturing or uranium mining?

    ReplyDelete
  2. Hi Mano;
    Obviously from your "OMG" I must assume its sumfin BIG :)
    Well I will not understand what the numbers mean, BUT if you could use words to translate what they say, maybe I will go running to see the numbers my self.
    Something like this video I found on Youtube,
    http://www.youtube.com/watch?v=Pgb71Hxi8hE&feature=feedwll
    You know the guy btw ? 1hour50min ! ! No I not ask you that long a presentation, but when you get a chance, whatever you can tell me and others I am sure, or is it econ ppl that read this only ?
    Econ Newbie :)

    ReplyDelete
  3. Dear @Anon squared. We meet again.

    Actually the title is sarcastic. It's meant to convey disappointment. I am a big fan of EUKLEMS and when I saw this update I thought it would at least come up to 2009. It didn't so I was a little upset. But it's a very good resource nonetheless.

    If you follow the link to www.euklems.net/(not the tables) the explanations provided by the EUKLEMS people themselves are fairly good and I have nothing to add to them.

    I also provided a paragraph by way of explanation, and the FSSC report I link to has a long intro explaining what the EUKLEMS project does and how. For a tiny bit of extra context, you may also want to see this: http://ec.europa.eu/economy_finance/db_indicators/eu_klems/index_en.htm

    Also if you find that I'm not providing much by way of explanations (which I am not) I strongly suggest googling EUKLEMS and watching what comes up. I'll still provide details if you comment but the journey of discovery is half the fun and you're missing out.

    That's how I found out about EUKLEMS btw. There was an article on the Economist, without enough detail for my taste, so I googled it. I luv teh interwebs.

    ReplyDelete
  4. Also to @Anon1, data on uranium mining may not excite you but having 2-digit SIC data is actually a brilliant addition. 2-digit SIC can tell between a car manufacturer and a producer of canned tuna, while 1-digit can't. I like that level of detail, and would thank you not to sneer at it.

    And a little methodological note:

    I don't know that we mine a lot of uranium but because all employment data comes from the LFS survey for confidentiality purposes it tends to be rounded. Very low numbers can actually come from 2-3 observations, so disclosing them can constitute disclosure as ppl can figure out the weights applied and work backwards to the actual responses.

    I don't make the rules and I share your frustration. Our tools are imperfect.

    ReplyDelete
  5. "Disclosure can constitute disclosure" ... LOL I have to stop doing comments I think...

    ReplyDelete
  6. You know what i think about this sort of work.... Its cost benefit is at best suspect. Very disjointing to go only in 2007 but that is what happens when you get stuck in details... the world passes you by.

    ReplyDelete
  7. @Alex I know how you feel - in fact I was looking for your original comment on EUKLEMS waaay back in the day but could't find it.

    Also for some reason your other comment refuses to display, so for the benefit of our readers I'll post it here:

    and the next post for you - Greece - the land of declining inequality: http://www.ecb.int/stats/exchange/hci/html/index.en.html and my take on it: http://economicscyprus.blogspot.com/2011/05/new-oecd-report-rich-are-getting-richer.html

    ReplyDelete

Please remember that I am not notified of any comments and will not respond via comments.

Try to keep your criticism constructive and if you don't like something, do tell me how to fix it. If I use any of your suggestions, you will be duly credited.

Although I'm happy to entertain criticism of myself in the comments section, I will not tolerate hate speech. You will be given a written warning and after that I will delete further offending comments.

I will also delete any comments that are clearly randomly generated by third parties for their own promotion.

Occasionally, your comments may land in the spam box, which may cause them to appear with a slight delay as I have to approve them myself.

Thanks in advance for your kind words... and your trolling, if you are so inclined.