Newsletter ­ February 2008 1
Editorial
The 5th Eurostat Colloquium on "Modern Tools for Business Cycle
Analysis" ....................................................................................................... 2
Highlights
Euro-IND statistical news............................................................................ 4
Insight on: IMF Government Finance Statistics (GFS) Data Mapper.... 8
Newsfront
News from the Member States.................................................................. 10
Forthcoming events.................................................................................... 12
Cool tools and sites: Interactive application for Map & graph ............. 19
Webtrends................................................................................................... 23
Contact us.................................................................................................... 23
Newsletter ­ March 2008 2
Editorial
The 5th Eurostat Colloquium on "Modern Tools for
Business Cycle Analysis"
By Rosa Ruggeri Cannata
Since 2000, Eurostat has been very active in organising, and contributing to, international
events (Colloquia, Workshops and Conferences) on key statistical and econometric topics.
The main focus has not only been on issues related to the production and analysis of infraannual
statistics but also on the development and applications of new methodologies for the
analysis of short-term movements of the economy. The Euro-Indicators team has been
particularly active in this field, organising events at a very high level which became regular
appointments for official statisticians, academics and researchers dealing with infra-annual
statistics.
The list of past events includes:
- Colloquium on Synthetic Indicators for the Euro-zone Business Cycle, 2000
- Colloquium on the history of business cycle analysis, 2001
- Colloquium on Modern Tools for Business Cycle Analysis, 2002
- Colloquium on Modern Tools for Business Cycle Analysis "Growth and cycle in the Eurozone",
2003
- Workshop on Frontiers in Benchmarking Techniques and Their Application to Official
Statistics, 2005
- Conference on Seasonality, Seasonal Adjustment and Their Implications for Short-term
Analysis and Forecasting, 2006
If you want to know more about them, please have a look at the Euro-indicators/PEEIs special
topic of the Eurostat website; for the last two mentioned events, you can find online the
complete program and all related papers, following the "past event" link on the Colloquium
homepage: Colloquium 2008.
Following the success of the 2006 Conference, this year Eurostat has decided to co-organise
with the European University Institute (Florence, Italy) the 5th
Colloquium on "Modern Tools
for Business Cycle Analysis", which will represent the ideal successor of the 2003 one; the
Colloquium will be held in Luxembourg on 29th
September ­ 1st
October 2008.
Keynote speakers include, among others, Prof. James Hamilton (University California San
Diego, USA), Prof. Don Harding (LaTrobe University, AU), Prof. Andrew Harvey
(Cambridge University, UK), Prof. David Hendry (Nuffield College Oxford University, UK),
Prof. Katarina Juselius (Copenhagen University, DK), Prof. Chang-Jin Kim (Korea
University, KR), Prof. Siem Jan Koopman (Vrije Universiteit Amsterdam, NL), Prof. Thomas
Sargent (New York University, USA), Prof. Kenneth D. West (University of Wisconsin,
USA).
The colloquium will cover both theoretical and empirical issues related to business cycle
analysis and forecasting. It will be structured in two groups of sessions, invited and
contributed ones. Papers presented must be characterised either by an innovative theoretical
Newsletter ­ March 2008 3
content or by a pertinent and conclusive empirical study focusing preferably on the euro area
or European countries' behaviour as well as on the interaction between European and nonEuropean
economies. Methodological studies are particularly welcome, especially when the
proposed approach has potential empirical applications.
We strongly believe that this colloquium, as it has been the case for the previous events
organized by Eurostat in the field of infra-annual statistics, will be a great success paving the
way to a closer collaboration between official statisticians and academics, and closing the gap
between methodological developments and empirical applications in the field of business
cycle analysis.
In order to profit from the high level participants, Eurostat will organise within the conference
two institutional events: a first inaugural session with the participation of Eurostat general
director, the deputy general director of the DG ECFIN of European Commission, and the
general director of a national statistical institute from a Member State; the second event will
be a round table chaired by Mrs. Inna Šteinbuka, Eurostat director, on "Future targets for
Principal European Economic Indicators (PEEIs) as a key instrument for designing and
monitoring short-term economic and monetary policies". The subject of this round table is a
very sensitive one for Eurostat, which has recently carried out several initiatives on PEEIs.
All papers presented at the Colloquium will be disseminated in the Euroindicators Working
Paper Collection, freely available on the Euro-indicators/PEEIs special topic of the Eurostat
website. Moreover, a special issue of the Journal of Forecasting edited by Massimiliano
Marcellino and Gian Luigi Mazzi will be dedicated to the colloquium topics.
You can find more information on the Colloquium and its call for papers on the Euroindicators/PEEIs,
following the link: Colloquium 2008. The Colloquium web pages will be
continuously updated in order to supply all interested persons with the most updated
information about the Colloquium and to encourage and facilitate paper submission and
registration.
Main deadlines are:
Abstract Submission 31st
May 2008
Notification of acceptance/rejection 7th
July 2008
Final paper 15th
September 2008
Submission for the special issue Journal of Forecasting End of November 2008
The full paper or an extended abstract (between 1000-1500 words) can be submitted by e-mail
to: Estat-colloquium-2008@ec.europa.eu
Newsletter ­ March 2008 4
Highlights
Euro-IND statistical news
Consumer prices
Euro area annual inflation up to 3.3% - EU stable at 3.4%
Euro area annual inflation was 3.3% in February 2008, up from 3.2% in January. A year
earlier the rate was 1.8%. Monthly inflation was 0.3% in February 2008.
EU annual inflation was 3.4% in February 2008, unchanged compared to January. A year
earlier the rate was 2.1%. Monthly inflation was 0.4% in February 2008.
These figures come from Eurostat, the Statistical Office of the European Communities.
Inflation in the EU Member States
In February 2008, the lowest annual rates were observed in the Netherlands (2.0%),
Germany, Portugal and Sweden (2.9% each), and the highest in Latvia (16.5%), Bulgaria
(12.2%) and Estonia (11.5%). Compared with January 2008, annual inflation rose in fourteen
Member States, remained stable in eight and fell in four.
The lowest 12-month averages up to February 2008 were registered in Malta (1.2%), the
Netherlands (1.7%), Denmark, France, Finland and Sweden (1.9% each), and the highest
in Latvia (11.6%), Bulgaria (8.6%) and Estonia (7.8%).
Euro area
The main components with the highest annual rates in February 2008 were education (9.7%),
food (5.8%) and transport (5.4%), while the lowest annual rates were observed for
communications (-3.1%), recreation & culture (0.0%) and clothing (1.0%). Concerning the
detailed sub-indices, fuels for transport (+0.50 percentage points), milk, cheese & eggs
(+0.23), heating oil (+0.21) and bread & cereals (+0.14) had the largest upward impacts on
the headline rate, while telecommunications (-0.20), cars (-0.14) and garments (-0.11) had the
biggest downward impacts.
The main components with the highest monthly rates were recreation & culture (1.0%),
clothing and hotels & restaurants (0.7% each), and the lowest were communications (-0.4%),
health (0.0%) and transport (0.1%). In particular, package holidays (+0.07 percentage points),
accommodation services (+0.04) and garments (+0.03) had the largest upward impacts, while
vegetables (-0.05), fuels for transport (-0.04) and telecommunications (-0.03) had the biggest
downward impacts.
February 2008 ­ News release N°38/2008 ­ 14 March 2008
External trade
Euro area external trade deficit 10.7 bn euro - 30.7 bn euro deficit for EU27
The first estimate for the euro area (EA15) trade balance with the rest of the world in January
2008 gave a 10.7 bn euro deficit, compared with -7.3 bn in January 2007. The December 2007
balance was -4.1 bn, compared with +2.3 bn in December 2006. In January 2008 compared
with December 2007, seasonally adjusted exports and imports rose by 7.4%.
Newsletter ­ March 2008 5
The first estimate for the January 2008 extra-EU27 trade balance was a deficit of 30.7 bn
euro, compared with -26.0 bn in January 2007. In December 2007, the balance was -17.6 bn,
compared with -10.0 bn in December 2006. In January 2008 compared with December 2007,
seasonally adjusted exports rose by 6.2% and imports by 4.9%.
These data are released by Eurostat, the Statistical Office of the European Communities.
January 2007 ­ News release N°41/2008 ­ 19 March 2008
Industry, commerce and services
Industrial new orders up by 2.0% in euro area - Down by 1.0% in EU27
In January 2008 compared with December 2007, the euro area (EA15) industrial new orders
index grew by 2.0%. In December the index fell by 3.6%. In the EU27 new orders decreased
by 1.0% in January 2008 and by 1.7% in December 20073. Excluding ships, railway &
aerospace equipment industrial new orders gained 1.3% in the euro area but lost 0.8% in the
EU27.
In January 2008 compared with January 2007, industrial new orders increased by 7.3% in the
euro area and by 6.7% in the EU27. Total industry excluding ships, railway & aerospace
equipment grew by 5.8% in the euro area and by 5.6% in the EU27.
These estimates are released by Eurostat, the Statistical Office of the European
Communities.
January 2008 compared with December 2007 ­ News release N°42/2008 ­ 26 March 2008
Industrial production up by 0.9% in both euro area and EU27
In January 2008 compared with December 2007, seasonally adjusted industrial production
grew by 0.9% in both the euro area (EA15) and the EU27. In December 2007 production
remained stable in both zones.
In January 2008 compared with January 2007, industrial production rose by 3.8% in the euro
area and by 3.5% in the EU27.
These estimates are released by Eurostat, the Statistical Office of the European
Communities.
January 2008 compared with December 2007 ­ News release N°36/2008 ­ 12 March 2008
Construction output up by 1.6% in the euro area - Up by 0.6% in the EU27
In the construction sector, seasonally adjusted production grew by 1.6% in the euro area
(EA15) and by 0.6% in the EU27 in January 2008, compared with the previous month. In
December 2007, production decreased by 0.2% in the euro area and by 0.1% in the EU27.
Compared with January 2007, output in January 2008 rose by 1.6% in the euro area and by
0.7% in the EU27.
These first estimates are released by Eurostat, the Statistical Office of the European
Communities.
January 2008 compared with December 2007 ­ News release N°40/2008 ­ 19 March 2008
Newsletter ­ March 2008 6
Volume of retail trade up by 0.4% in euro area - Up by 0.6% in EU27
In January 2008, compared with December 2007, the volume of retail trade grew by 0.4% in
the euro area (EA15) and by 0.6% in the EU27. In December 2007 retail trade fell by 0.1%
and 0.2% respectively.
In January 20084, compared with January 2007, the retail sales index decreased by 0.1% in
the euro area, but rose by 1.8% in the EU27.
Monthly changes
In January 2008, compared with December 2007, "food, drinks and tobacco" grew by 0.6% in
the euro area and by 0.7% in the EU27. The non food sector gained 0.4% and 0.6%
respectively.
Among the Member States for which data are available, total retail trade rose in twelve and
fell in four. The highest increases were observed in Belgium (+9.5%), Lithuania (+7.4%)
and Portugal (+4.1%), and the largest decreases in Latvia (-1.5%) and Spain (-1.1%).
Annual changes
In January 2008, compared with January 2007, retail trade of "food, drinks and tobacco" fell
by 1.0% in the euro area, but rose by 0.2% in the EU27. The non food sector grew by 0.4%
and 2.8% respectively.
Among the Member States for which data are available, total retail trade rose in twelve,
decreased in three and remained unchanged in Denmark. The highest increases were
observed in Slovakia (+15.6%), Bulgaria (+14.8%), Lithuania (+14.5%) and Poland
(+8.3%), and the largest decrease in Spain (-2.4%).
These first estimates come from Eurostat, the Statistical Office of the European
Communities.
January 2008 compared with December 2007 ­ News release N°31/2008 ­ 5 March 2008
Industrial producer prices up by 0.8% in euro area - Up by 1.0% in EU27
In January 2008 compared with December 2007, the industrial producer price index rose by
0.8% in the euro area (EA15) and by 1.0% in the EU27. In December prices increased by
0.1% and 0.3% respectively.
In January 2008 compared with January 2007, industrial producer prices gained 4.9% in the
euro area and 5.8% in the EU27.
These figures come from Eurostat, the Statistical Office of the European Communities.
January 2008 compared with December 2007 ­ News release N°29/2008 ­ 4 March 2008
Labour market
Euro area and EU27 employment up by 0.2%- +1.7% and +1.5% respectively compared
to the fourth quarter of 2006
The seasonally adjusted number of persons employed in the euro area (EA13) rose by 0.2%
(270 000 persons) during the fourth quarter of 2007, according to provisional national
accounts estimates published by Eurostat, the Statistical Office of the European
Communities. During the same period, the number of persons employed in he EU27 also
grew by 0.2% (484 000 persons). In the third quarter of 2007, growth rates were +0.3% in
both zones.
Newsletter ­ March 2008 7
Compared with the same quarter of the previous year, employment grew by 1.7% in the euro
area and by 1.5% in the EU27 in the fourth quarter of 2007, after +1.8% and +1.6%
respectively in the third quarter of 2007.
Over the whole year 2007, employment increased by 1.7% (2 446 000 persons) in the euro
area and by 1.6% (3 509 000 persons) in the EU27, compared to +1.5% in both zones in
2006.
Eurostat estimates that, in the fourth quarter of 2007, 224.2 million men and women were
employed in the EU27, of which 144.3 million were in the euro area. These figures are
seasonally adjusted.
These quarterly data on employment provide a picture of labour input consistent with the
output and income measures of national accounts.
First estimate for the fourth quarter of 2007 ­ News release N°39/2008 ­ 17 March 2008
National accounts
Euro area GDP up by 0.4% and EU27 up by 0.5%; +2.2% and +2.6% respectively
compared with the fourth quarter of 2006
Euro area (EA13) GDP grew by 0.4% and EU27 GDP by 0.5% in the fourth quarter of 2007,
compared with the previous quarter, according to first estimates released by Eurostat, the
Statistical Office of the European Communities. In the third quarter of 2007, growth rates
were +0.7% in the euro area and +0.8% in the EU27.
Compared with the fourth quarter of 2006, seasonally adjusted GDP rose by 2.2% in the euro
area and by 2.6% in the EU27, after +2.6% and +2.9% respectively for the previous quarter.
Private consumption static, growth in investments and exports
During the fourth quarter of 2007, household final consumption expenditure decreased by
0.1% in the euro area and increased by 0.1% in the EU27 (after +0.5% and +0.6% in the
previous quarter). Investments grew by 0.8% in the euro area and by 0.7% in the EU27 (after
+1.2% and +1.4% in the previous quarter). Exports rose by 0.5% in the euro area and by
0.6% in the EU27 (after +2.1% and +2.0%). Imports decreased by 0.4% in the euro area and
by 0.2% in the EU27 (after +2.5% and +2.9%).
US GDP up by 0.2%, Japanese GDP up by 0.9%
In the United States GDP increased by 0.2% during the fourth quarter of 2007, after +1.2%
in the third quarter of 2007. In Japan GDP grew by 0.9% in the fourth quarter, after +0.3% in
the previous quarter.
Compared to the fourth quarter of 2006, GDP rose by 2.5% in the US (after +2.8% in the
previous quarter) and by 1.8% in Japan (after +1.9%).
In 2007 GDP grew by 2.6% in the euro area and by 2.9% in the EU27
Over the whole year 2007, GDP grew by 2.6% in the euro area and by 2.9% in the EU27,
compared to +2.8% and +3.0% respectively for 2006.
Over the whole year 2007, GDP grew by 2.2% in the US (+2.9% in 2006) and by 2.1% in
Japan (+2.4% in 2006).
First estimates for the fourth quarter of 2007­ News release N°30/2008 ­ 4 March 2008
Newsletter ­ March 2008 8
Insight on: IMF Government Finance Statistics (GFS)
Data Mapper
The IMF Data Mapper is an interactive data visualisation tool for easy manipulation of IMF
data and projections. This new, free tool delivers a point-and-click interface and graphic
representation of results. This initial version of the Mapper - launched with the release of the
October 2007 World Economic Outlook (WEO) - contains selected data from the latest WEO
and from the newly released Balance of Payments Yearbook 2007. Now the second version of
the IMF data Mapper extended to the main Government Finance Statistics Manual 2001
(GFSM 2001) is available on www.imf.org.
About Government Finance Statistics
The Government Finance Statistics Manual 2001 (GFSM 2001), an internationally recognized
statistical reporting framework, is aimed at helping national authorities to strengthen their
capacity to formulate fiscal policy and monitor fiscal developments.
The GFSM 2001 supports the balance sheet approach to analyzing economic policy by
bringing together stocks and flows in a transparent and consistent framework. The GFS
framework provides a basis for analyzing public investment while providing a "common
language" that fiscal analysts can use to develop a consistent approach to handling new, and
often complex, government operations that create challenges in fiscal reporting and analysis.
Also, the GFSM 2001 is better suited for inclusion in a quantitative macroeconomic
framework because it yields measures of government saving, investment, and consumption;
these measures have been harmonized with the national accounts framework. Equally
important, the framework forms an integral part of the IMF's effort to promote international
standards for transparency in fiscal reporting.
The GFS Data Mapper
The government Finance statistics (GFS) Data Mapper permits cross country comparisons
showing the main Government Finance Statistics Manual 2001 (GFSM 2001) aggregates as a
percentage of gross domestic product (GDP). Users can select and compare data across
countries, regions, and groups, using the world map or a pull-down menu.
The Data Mapper displays the selected data in chart form, and the map and charts are
interactive. The data can also be printed or exported to other applications in the form of chart
or map images.
The Data Mapper provides access to a limited amount of country specific data expressed as a
percentage of GDP. More detailed data reflecting balance sheet information that integrates
transactions with other economic flows and generates stock positions for government assets
and liabilities, appropriate for fiscal policy analysis are available through the 2007 GFS
Yearbook and the GFS Database and Browser on CD-ROM (1990-present in GFSM 2001
format).
The basis of recording of the GFS data presented in the Data Mapper is identified as cash or
noncash, where the latter encompasses any recording basis other than cash (including
accrual). For each country, standardized metadata indicate the general government
sector/subsector for which data, as a percentage of GDP, are provided along with information
on accounting practices. This should assist users of the Data Mapper to identify countries that
report data according to a reporting basis other than that being queried.
Newsletter ­ March 2008 9
More data coming soon
The IMF intends to expand the data to include additional variables and other databases,
including from the IMF's Regional Economic Outlooks as well as the OECĎs Main
Economic Indicators. The Data Mapper will also be made available from IMF.Stat - a central
repository for internal and external economic data and metadata - which is currently under
development.
You can access to the GFS Data Mapper at:
http://www.imf.org/external/datamapper/index.php?db=GFS&lang=en
Newsletter ­ February 2008 10
Newsfront
News from the Member States
This section highlights economic news and statistics in each Member State in the field
of infra-annual and business cycle statistics. The information is provided by Member State
National Statistics Institutes (NSIs), central banks and research institutes. If you have relevant
news that you would like to have included in next months Newsletter please send an e-mail
to: justyna.gniadzik@ec.europa.eu.
Denmark
Statistics Denmark
Adjustment of the monthly unemployment statistics
28 February 2008
On 28 February unemployment figures compiled on the basis of a new and more
representative method were published by Statistics Denmark. A description of the background
to the new unemployment statistics and the methodological consequences in connection can
be found on the website.
More information available at:
http://www.statbank.dk/statbank5a/default.asp?w=1024
Germany
Federal Statistical Office (Destatis)
The STATmagazin - New ways for Destatis's range of information
The German Federal Statistical Office (Destatis) has launched STATmagazin to offer up-todate
and specially edited information on topics that are the focus of public discussion.
Authors from all statistical areas write articles dealing with the latest information and thus
providing comprehensive and independent statistical background knowledge.
More information available at:
http://www.destatis.de/jetspeed/portal/cms/
Portugal
Statistics Portugal
Complete Life Table for Portugal - 2004 - 2006
18 February 2008
Statistics Portugal initiates in 2008 the annual publication of National Complete Life Tables,
releasing the life table for 2004-2006.
More information available at:
http://www.ine.pt/portal/page/portal/PORTAL_INE/Destaques?DESTAQUESdest_boui=124
05570&DESTAQUESmodo=2
United Kingdom
Office for National Statistics (ONS)
Consultation on ONS 2006-based Sub national population projections
Newsletter ­ March 2008 11
Due to issues arising from quality assurance and IT difficulties the ONS regrets to announce
that ONSCD is delaying publication of the consultation on the 2006 based sub national
population projections. The ONS are consulting with Local Authorities on the initial
migration assumptions, and with all interested parties on wider issues.
More information available at:
http://www.statistics.gov.uk/about/consultations/2006-based-Subnat-Pop-Proj.asp
Newsletter ­ March 2008 12
Forthcoming events
The first date(s) refers to the dates of the event.
April 17-19
Conference on "Decentralisation and Co-ordination: The Twin Challenges of Labour Market
Policy"
Venice, Italy
Objective and topics
The main themes of the conference will be:
* Reducing the trade-off between flexibility and accountability.
* Co-ordinating labour market policy with economic development and innovation.
* Tackling skills and employability challenges.
Policy makers will bring lessons from their experience of decentralisation over the past 10
years and debate ways to make policies more effective in a globalised, knowledge-based
economy, when localities are faced with complex issues and business needs change
constantly.
April 20-22
International Energy Forum
Rome, Italy
Objective and topics
The International Energy Forum gathers Ministers of energy producing and consuming
countries, of industrialized and developing countries in a global dialogue on energy. In the
IEF Ministers address issues of energy security and the links between energy, environment
and economic development. Their global dialogue transcends traditional political, economic
and energy policy dividing lines of nations at a time of increasing interdependencies.
Recognizing the crucial role of industry, IEF Ministers interact with CEOs of leading energy
companies in the International Energy Business Forum.
This year the Forum will address the theme Energy Dialogue to Respond to Global
Challenges.
April 21-23
Scottish Economic Society Annual Conference
Perth, Scotland
Objective and topics
The 2008 SES Presidenťs Lecture will be delivered by Professor Martin Browning of the
University of Oxford. The topic for the SES Policy Forum in 2008 will be "The Future of the
Housing Market". Also, Professor John Sloman will chair our traditional Economics'
Network Workshop on improving the teaching of Economics.
May 7-8
OECD/US Treasury International Conference on Financial Education
Washington DC, USA
Objective and topics
The high-level international conference is co-organised by the OECD, as part of its on-going
project on financial education, and the US Department of the Treasury.
Newsletter ­ March 2008 13
The main objective of this conference is to seek to advance and elevate dialogue on financial
education in the international arena; share experiences, and discuss best practices, including
OECĎs international principles and good practices; and look at applied research.
The conference will notably cover national strategies on financial education; effective and
innovative tools; issues related to credit opportunities and challenges; retirement savings and
risk awareness on large-scale catastrophes; as well as challenges related to youth and
underserved groups in respect of financial access and literacy.
This event will convene a wide international audience of high-level governmental officials
and experts from public authorities and regulatory and supervisory bodies, as well as senior
private sector representatives and academics from OECD and non-OECD countries.
May 14-16
3 day Cemmap Course on Panel Time Series
London, United Kingdom
Cemmap course by Ron P. Smith
Objective and topics
This course will discuss the econometric theory for such panels, and consider the models and
estimators available for stationary, integrated and cointegrated variables and examine the
issues raised by between-unit dependence. The procedures will be illustrated with data for
international financial variables. Those attending the course should be familiar with standard
panel and time-series methods.
There will be a detailed set of lecture notes and a set of practical exercises, which would
include the estimation output from the practicals. The practicals will use a panel of
international financial data to estimate and test various parity conditions. The software
package that will be used is LIMDEP.
May 14-17
Conference on Forecasting Financial Markets and Economic Decision Making
Lodz, Poland
Objective and topics
The ongoing integration process of global financial markets introduces a necessity to carry on
research on forecasting and decision-making in emerging and developed financial markets
within the framework of their macroeconomic environment. The purpose of the conference
FindEcon is to share experience in forecasting emerging and developed financial markets and
other markets and their impact on economic growth.
May 15-16
Brussels Economic Forum 2008
Brussels, Belgium
Objective and topics
Ten years after the landmark decisions which led to the launch of the euro and the creation of
a monetary union in Europe, this year's Forum will be dedicated to an assessment of what
Economic and Monetary Union has achieved so far and what challenges it now faces. It will
include sessions on growth and adjustment in the euro area, the euro and global financial
markets, euro-area governance, and the medium-term challenges for Economic and Monetary
Union.
The Forum will also provide an excellent opportunity for policy makers and academics to
debate issues that currently figure prominently on the EU and international agenda, such as
recent financial market developments and their possible implications for Europe.
Newsletter ­ March 2008 14
May 16-17
IConference on Economic Incentives: Do They Work in Education?
Munich, Germany
Objective and topics
The conference will bring scholarly perspectives together from both sides of the Atlantic.
Answers to many education policy issues ­ merit pay, graduation requirements, social
promotion policies, school choice options, school accountability provisions, and many others
­ depend on how incentives work in education. Currently, scholars are exploring these
questions in greater depth and with more sophistication than ever before. Major
breakthroughs in theoretical understanding, computational capacity, and data availability are
rapidly altering the knowledge landscape. Help in advancing the knowledge may also come
from recent advances in behavioral economics.
May 18-20
World Economic Forum on the Middle East
Sharm El Sheikh, Egypt
Objective and topics
The annual World Economic Forum on the Middle East is the foremost global gathering of
political, business and cultural leaders. This year's meeting will use scenarios to explore the
region's future.
Participants will have a unique opportunity to meet the region's key leaders, contribute to
indepth debates and gain a rare insight into the complexities of the Middle East.
Collaboration, networking and interaction with global leaders will be the hallmarks of a
reinvented programme in Sharm El Sheikh. Participants will enjoy enhanced opportunities to
interact directly with those excelling in their fields, learning through an exchange of ideas and
practical experience. Experts will share their insights on the key global trends affecting the
Middle East with those with powerful new ideas that are reshaping the future. Sessions will
also cover the latest "hot topics" in the headlines, and focus on emerging countries that offer
bold investment opportunities.
May 20-21
OECD Global Forum on Development
Objective and topics
The Forum will build a core network of participants including policy makers from OECD and
developing countries, research institutions and think tanks, international organisations,
regional development banks, technical development agencies, foundations, private sector and
civil society organisations.
The Forum will focus on the following subjects:
* Build consensus among diverse development stakeholders for more synergetic and
coherent outputs through policy dialogue and peer learning, and an interdisciplinary
approach to its activities;
* Enhance the visibility and impact of the OECD in the field of development, and allow
the Organisation to take a stronger leadership role on key global development issues;
* Enable a core network of participants ­ including policy makers from OECD and
developing countries, research institutions and think tanks, and private sector and civil
society organisations ­ to follow key policy issues on a multi-annual basis;
* Further enhance OECD wide coherence on development related work, and promote
horizontal and multidisciplinary approaches, including beyond the organisation
through partnerships with other international organisations;
Newsletter ­ March 2008 15
* Mainstream outreach work on development, and contribute to policy progress and
consensus with non members through OECD methods of work.
June 3-4
OECD Forum 2008 on Climate Change, Growth, Stability
Paris, France
Objective and topics
* Climate Change: how to build a solid economic framework for combating climate
change beyond Kyoto?
* Growth: how to deal with risks following the shocks of financial turmoil, cooling
housing markets and higher energy and commodity prices?
* Stability: how should regulators respond to the recent financial turmoil?
Keynote speakers
Angel Gurría, Secretary-General OECD
H.S.H. Prince Albert II of Monaco
Pascal Lamy, Director-Genera WTO
Doris Leuthard, Federal Councillor Economic Affairs Switzerland
Jean-Claude Trichet, President ECB
June 4-6
Inaugural conference of the Society for Financial Econometrics (SoFiE)
New York, USA
Objective and topics
The Society for Financial Econometrics (SoFiE) is a global network of academics and
practitioners dedicated to the fast-growing field of financial econometrics. SoFiE is
committed to promoting and expanding research and education by organizing annual
conferences and sponsoring programs and activities in the intersection of finance and
econometrics. The society will be associated with the Journal of Financial Econometrics.
The Society for Financial Econometrics (SoFiE) will hold its inaugural conference sponsored
by the Salomon Center at the Stern School of Business. Academics and practitioners in the
field, including those who currently are not members of the Society, are invited to attend the
conference.
The conference will feature the following invited speakers along with contributed papers from
both practitioners and academics:
Keynote speakers
Doug Breeden, The Fuqua School of Business, Duke University
Andy Lo Sloan, School of Management, MIT
Paul Embrechts, ETH Zurich
Matthew Richardson, Stern School of Business, NYU
Oliver Linton, London School of Economics
Halbert White, University of California, San Diego
June 4-6
European Conference of the Financial Management Association International (FMA)
Prague, Czech Republic
Objective and topics
FMA's European Conference brings together academicians and practitioners with interests in
financial decision-making. The meeting provides a forum for presenting new research and
discussing current issues in financial management and related topics.
Newsletter ­ March 2008 16
FMA's European Conference brings together distinguished academicians and practitioners
from North America and Europe for the exchange of research and practice.
Keynote speaker
John J. McConnell, Professor of Management (Finance) at the Krannert School of
Management at Purdue University
June 9-10
INFINITI Conference on International Finance
Dublin, Ireland
Objective and topics
This year's Conference will focus on the theme of "Micro and Macro Foundations of
International Financial Integration".
Keynote speakers
Professor Maureen O'Hara
Professor Barry Eichengreen
June 9-10
Workshop Spatial Econometrics and Statistics
Paris, France
Objective and topics
The aim of the workshop is to bring together economists, econometricians, statisticians, and
geographers to discuss the state­of­the­art and future challenges as well as opportunities in
the fields of spatial econometrics and statistics. This workshop also aims to reinforce and
encourage exchanges between senior and junior researchers involved in spatial statistics and
econometrics.
Keynote speakers
James Lesage, Texas State University ­ San Marcos, Finance and Economics Department
Elena Irwin, Department of Agricultural, Environmental and Development Economics the
Ohio State University
Garth Holloway, University of Reading, School of Agriculture, Policy and Development
Open deadlines for papers submission
The first date is the deadline for the submission
April 21
Money, Macro and Finance (MMF) Annual Conference
September 10-12, 2008, London, UK
Call for Papers
The MMF 2008 Programme Committee invites submissions of papers from academic,
government and business economists in any area of Monetary, Macro and Financial
Economics.
Submission of Papers
Papers should be submitted, from 15th February onwards, through the Conference Maker
website for the MMF 2008 conference.
To submit a paper, you will need to set up an account and follow the instructions on the
Conference Maker site. Submitting authors should not act as a corresponding author for more
than one paper. At the Conference, no author should present more than one paper.
Newsletter ­ March 2008 17
April 15
La Pietra-Mondragone Workshop
June 30-July 2, 2008, Florence, Italy
Call for Papers
The workshop is designed to stimulate the interaction between senior economists and doctoral
students working on both theoretical and empirical economic issues, and well ahead in their
dissertation. This year, the workshop is the result of the cooperation between an extended set
of universities. The workshop will allow a selected group of doctoral students to receive
intense feedback on their work from senior economists. Doctoral students will present their
work to the other workshop participants, with a senior economist acting as a discussant
(approximately one hour for each work session). The workshop is residential, and both
doctoral students and senior researchers are expected to participate to all sessions. The
working language is English.
Submission via Conference Maker
April 15
Workshop "Five years of an enlarged EU ­ a positive-sum game"
November 13-14, 2008, Brussels, Belgium
Call for Papers
On 1 May 2009, it will be five years since the accession of 10 new Member States. To mark
this important event, the European Commission is undertaking a review of the experience of
both old and new Member States in the enlarged EU. In view of the vast topic covered by the
review and to support its own analysis, the Commission invites leading economists to write
essays which provide a deep and well founded insight into the functioning of the enlarged EU.
Each essay will tackle one of four topics listed below:
* Trade and foreign direct investment in an enlarged EU: opportunities and challenges
* Migration in an enlarged EU: solution or problem for labour market woes and cashstrapped
social security systems?
* Financial integration and stability in an enlarged EU
* Integration, openness and growth: did accession make a difference?
Submission of Papers
Essays shall deal with no more than one of the four topics listed above. Essays can be coauthored
but a person can be contracted to work on no more than one essay either as sole
author or co-author English text (rtf).
The final essays will be original work created in response to this call for essays and should be
roughly 15,000 words in length. Authors will be required to send electronically a provisional
draft to DG ECFIN.
April 30
International workshop on Computational and Financial Econometrics (CFE'08)
June 19-21, 2008, Neuchâtel, Switzerland
Call for Papers
This workshop invites presentations that contain computational or financial econometric
components. Papers containing strong computational statistical or econometric components or
substantive data-analytic elements will be considered for publication in a special peerreviewed
or regular, issue of the journal Computational Statistics & Data Analysis.
Submission of Papers
Single page abstracts should be submitted online by the deadline.
Newsletter ­ March 2008 18
April 30
NIPE Summer School in Bayesian Econometrics
June 30-July 2, 2008, Braga, Portugal
Course outline
I. Bayesian econometrics
A. Introduction
B. Bayesian inference in the univariate regression model
C. Some general issues in Bayesian inference
D. Numerical Bayesian methods
II. Vector autoregressions
A. Introduction
B. Normal-Wishart priors for VARs
C. Bayesian analysis of structural VARs
III. Markov-switching models
A. Introduction to Markov-switching models
B. Bayesian analysis of Markov-switching models
Lecturer: James Hamilton
May 1 (application deadline for international students)
Harvard Summer School: Introductory Econometrics
June 23 - August 15, 2008, Cambridge, USA
Programs and Courses for Everyone
Every year, students attend Harvard Summer School to earn credit toward degrees, satisfy
intellectual curiosity, or gain new skills. Although courses are rigorous, most are open
admission, which means no application, transcripts, or letters of recommendation are
required.
May 2
Netherlands Econometric Study Group Annual Conference (NESG)
June 13, 2008, Tilburg, The Netherlands
Keynote speaker: Bruce Hansen (University of Wisconsin)
Call for Papers
The Netherlands Econometric Study Group will organize its 2008 conference in Tilburg. The
conference provides a forum for econometricians from the Netherlands and beyond to
exchange research ideas and developments on any aspect of econometrics. There will not be a
particular theme, but instead a broad spectrum of research areas will be represented,
depending on submission of papers. We therefore invite submissions from any area of
econometrics: from time series to cross-sections and panel data and from likelihood based
inference to non-parametric techniques, both in theoretical and applied settings. There will be
no parallel sessions and the number of participants is limited to 50.
Submission of Papers
Submission in the form of completed papers is preferred. Extended abstracts (2 pages) are
also welcome, provided full papers can be expected before 1 June.
Newsletter ­ March 2008 19
Cool tools and sites: Interactive application for Map &
graph
Lot of websites provides interactive applications for maps and graphs. You can find below a
not exhaustive list of websites offering interactive applications.
European Environment Agency Live maps and data
In the European Environment Agency Live maps and data section you will find interactive
tools enabling to examine environmental data and to explore maps of Europe.
Explore ozone today
Check out today's ozone level in your city/area through the ozone interactive map.
EPER - The European Pollutant Emission Register
Explore information on industrial emissions in your neighbourhood by searching the map.
Eunis - Find species, habitats and sites
Explore Europe's biodiversity and nature through this interactive map.
WISE - My river basin district
Water quality, biological conditions and the amount of water flowing in a river ultimately
depend on what happens in the river basin. Find out details about your river basin district.
Explore greenhouse gas data
The EEA GHG data viewer is an interactive tool that allows easy web access to the main data
contained in the EC Greenhouse gas inventory report. The GHG data viewer enables the user
to view and analyse emission trends for the main sectors and their sub sectors. It also
facilitates comparison between emissions from selected countries and sectors. In addition, the
GHG data viewer enables the production of graphics and the downloading of key emission
estimates.
Environmental technology atlas
As the name suggests, the environmental technology atlas is a map-based tool. The user is
presented with a European map and can zoom quickly into the geographical area of interest.
This feature is further enhanced through the integration of the atlas with Google Earth,
enabling the chosen locations to be shown on top of a satellite image of the area. Searches can
also be more highly specified by using thematic filters and keywords, allowing the user for
instance to search solely for private companies engaged in waste management technology in
Germany and France.
Air pollutant emissions data viewer (LRTAP Convention)
This tool allows visualising and downloading of data submitted by EEA member countries
and cooperating countries to the UNECE Convention on Long-range Transboundary Air
Pollution (LRTAP Convention) for the period 1980 ­ 2005.
Air pollutant emissions data viewer (NEC Directive)
This tool allows visualising and downloading of emissions data submitted by EU Member
States under the reporting requirements of the National Emission Ceilings Directive
(2001/81/EC) (NEC Directive).
Changing face of Europe - explore the land resources
This application allows the exploration of the 1990 and 2000 Corine land cover datasets.
More information available at:
http://www.eea.europa.eu/quicklinks/explore-interactive-maps
Newsletter ­ March 2008 20
The German Federal Statistical Office (Destatis) Interactive
Applications
Destatis offers interactive applications of the animated population pyramids on the population
forecast, the Atlas of Regional Statistics, the personal inflation calculator, and the Atlas of
Foreign Trade Data (the interactive applications are only in German).
Inflation calculator
The goods basket of the consumer price index consists of about 660 goods. The price
development is calculated for each type ­ for instance books, cinema tickets or petrol. The
complete consumer price index is a weighted mean of the price trends observed for all the
about 660 types of goods. With the personal inflation calculator you can establish your
individual weighting pattern and then calculate your personal inflation rate on that basis.
Age structure of the population of Germany
Here you can see results of the 11th coordinated population projection based on an annual net
migration of +100.000 persons: variant 1-W1 ("medium" population, lower threshold) and an
annual net migration of +200.000 persons: variant 1-W2 ("medium" population, upper
threshold) in the form of animated age pyramids.
Age structure of the population by Länder
In addition to the federal results of the 11th population projection coordinated by the
statistical offices of the Federation and the Länder there are corresponding data by Länder.
Online Atlas of Regional Statistics
The statistical offices of the Federation and the Länder offer an interactive Atlas of Regional
Statistics as a joint product. The Online Atlas presently comprises 320 different maps on
selected topics of official statistics for 439 rural districts and towns not attached to an
administrative district in Germany. With each map, the user is offered a wide range of
possibilities to interact in order to visualise and retrieve information.
Atlas of Foreign Trade Data
The Atlas of Foreign Trade Data makes it possible to present Germany's foreign trade with its
partner countries graphically by size classes on a world map. The system enables a
presentation of total exports and imports, of the trade balance surplus/deficit of the years 2004
to 2006, and also the visualisation of German foreign trade by various goods classifications.
Air Transport Atlas
With the Air Transport Atlas, one of its cartographic applications, Destatis provides data on
air transport. That application contains information on the volume of passengers, air freight,
and air mail. What is shown is air transport to and from other countries for reference years
2005 and 2006, whereas intra-German air transport is not presented.
More information available at:
http://www.destatis.de/jetspeed/portal/cms/Sites/destatis/Internet/EN/Navigation/InteraktiveA
nwendungen/InteraktiveAnwendungen,templateId=renderPrint.psml__nnn=true
Newsletter ­ March 2008 21
MDG Monitor (United Nations Development Programme, Cisco,
Google, UNICEF, ReliefWeb)
"The MDG Monitor shows how countries are progressing in their efforts to achieve the
Millennium Development Goals (MDGs). With the 2015 target date fast approaching, it is
more important than ever to understand where the goals are on track, and where additional
efforts and support are needed, both globally and at the country level."
The Monitor is designed as a one-stop-shop for information on progress towards the
Millennium Development Goals (MDGs), globally and at the country level. It is intended as a
tool for policymakers, development practitioners, journalists, students and others interested in
learning about the Goals and tracking progress toward them.
It has been created by the United Nations Development Programme in partnership with the
Statistics Division of the UN Department of Economic and Social Affairs (DESA), Relief
Web of the UN Office for the Coordination of Humanitarian Affairs (OCHA), and the United
Nations Children's Fund (UNICEF). Funding and in-kind support were provided by Google
and Cisco.
The MDG Monitor will be continually updated as new data becomes available. Subsequent
versions of the tool will also be available in multiple languages.
About the data and information
The MDG Monitor showcases existing UN data. The figures presented are from the official
MDG Indicators database, maintained by the UN Statistics Division, in close collaboration
with agencies and organizations within and outside the UN system, including UN DESA's
Statistics and Population Divisions, UNDP's Human Development Reports, and the World
Bank's World Development Indicators.
The statistics presented are compiled by specialized agencies within their area of expertise.
They are drawn from data provided by national Governments to the UN international
statistical system, and usually adjusted for comparability. The availability of data needed to
calculate the indicators in each country depends on the capacity of the national statistical
departments to produce the necessary data and/or to report them in a timely manner to the
relevant international agencies. In some instances, national Governments may have more
recent statistics that have not been reported to the international statistical system; in other
cases, countries do not produce the data required for the compilation of the indicators or do
not report their data. When this occurs, international agencies make estimates based on data
available on related variables or other methodologies. A complete description of how the
estimates and adjustments are produced is contained in the metadata section of the MDG
database.
The country-level "MDG Profile" narratives are based on information supplied by national
Governments and UNDP country offices. Country-level assessments of progress by goal
("Very likely to be achieved", "Possible to achieve", etc.), are derived primarily from national
MDG reports.
The complete MDG database can be accessed at: http://www.mdgmonitor.org .
New feature for the predefined tables: Tables, Graphs, Maps
(TGM) - the interactive user interface to Eurostaťs data
The Eurostaťs Tables Graphs and Maps (TGM) tool is an online mapping interface easy to
use. Available as from the first half of 2007 the Tables, Graphs and Maps (TGM) approach
offers:
Newsletter ­ March 2008 22
* Improved, single style for downloads and prints of tables, graphs and maps. This
includes the definition of the various download formats and the functionality. The fact
that all data is licence free implies that the maps can also be printed, saved and sent to
other people without restrictions. Another option is to integrate an URL to the map in
an online document or website.
* Progress bar indicating that the user's request is running
* Full size TGM window view depending on screen resolution
* Demo-tour and limited Help functionality
Table functions:
* Show (or hide) footnotes/flags, labels and codes
* Provided short descriptions of the indicators
* Displays predefined tables with three data dimensions
Graphs:
* User customisable scales for graph axes
* Improved display of pie charts.
Maps:
The map section of the TGM tool offers a number of functions which allow for customizing
the results of the map production.
* Basic GIS functions (Zoom, Pan, Layer control, label and value display with mouse
over)
* Comparisons with a reference year or a reference country
* Maps with charts
* Advanced class building functions
You can access the TGM on the Eurostat website at:
http://epp.eurostat.ec.europa.eu/portal/page?_pageid=1090,30070682,1090_33076576&_dad=
portal&_schema=PORTAL
Newsletter ­ March 2008 23
Webtrends
Due to the implementation of the new Eurostat portal and the dedicated Euroindicators
section, the statistics on the consultation of different products, as well as the Webtrends
publication, are temporarily unavailable.
Contact us
The statistical newsletter is published by:
Eurostat unit D1 ­ Key Indicators for European Policies
Contact point: justyna.gniadzik@ec.europa.eu
Feedback: Readers are invited to send their comments, questions or contributions to the
contact point.