In this exercise, I use the annual dataset regarding the ten MIP scoreboard indicators to map the relative distance from their indicative thresholds for eleven EZ countries over time in order to determine the sources of imbalances as well as their contribution to the overall ranking for each country relative to EZ peers. In particular, I calculate for each indicator the percentage distance from the threshold. Summing all overshooting percentages and dividing by the number of overshooting indicators in a given year gives the average distance from threshold (this procedure assigns equal weight to all indicators). Note also that not all data are available for all countries starting 1995, for example deflated house price changes are only available starting 2006 for select countries. Den Rest des Beitrags lesen »
Mit ‘MIP’ getaggte Beiträge
Geschrieben von hkarner - 12. November 2012
Geschrieben von hkarner - 26. Februar 2012
Author: Rebecca Wilder · February 24th, 2012 · RGE EconoMonitor
The European Commission’s Economic and Financial Affairs initiated the Macroeconomic Imbalance Procedure (MIP) Scoreboard. The MIP Scorecard will be used to identify emerging or persistent macroeconomic imbalances in a country. In their inaugural release, the EC listed 12 EU countries in need of further review for potential imbalances (program countries are exempt from this review process).
The accompanying database of the factors in the MIP score is made available at Eurostat. This database is particularly exciting for a data geek like me. Included in the MIP database is an indicator that I’ve wanted to construct for some time: country level exports as a share of world exports. World export share is a much broader measure of competitiveness than the commonly reported export share of country GDP. Den Rest des Beitrags lesen »