Session A1 : Cross-national Socio- Economic Data: Boundaries of Evidence. Cross national & intergovernmental data: paying for one stop shopping Bobray.

Session A1 : Cross-national Socio-Session A1 : Cross-national Socio-Economic Data: Boundaries of Economic Data: Boundaries of

Evidence. Cross national & Evidence. Cross national & intergovernmental data: paying for one intergovernmental data: paying for one

stop shoppingstop shopping

Bobray BordelonBobray Bordelon

Princeton UniversityPrinceton University

IASSIST 2005IASSIST 2005

Native Interface, Design Own Native Interface, Design Own or Use Aggregator?or Use Aggregator? (1) (1)

Combine sources? Logical?Combine sources? Logical?

Native interface good enough? Native interface good enough? Easy to combine data from Easy to combine data from various sources?various sources?

Data provided in easily Data provided in easily extractable format?extractable format?

Native Interface, Design Own Native Interface, Design Own or Use Aggregator?or Use Aggregator? (2) (2)

Data alteration allowed? Data alteration allowed?

Staff & expertise to design & maintain Staff & expertise to design & maintain own interface? Expertise to match own interface? Expertise to match changing data elements over time?changing data elements over time?

Commercial service that does what Commercial service that does what you want? ST & LT costs?you want? ST & LT costs?

Documentation?Documentation?

Major Elements to Consider Major Elements to Consider when Selecting an Aggregatorwhen Selecting an Aggregator

VarietyVariety

Source specified?Source specified?

Fixed beginning date or Rolling Period? Fixed beginning date or Rolling Period?

Start Date Start Date

Frequency Frequency

Update frequencyUpdate frequency

Downloading capabilities Downloading capabilities

Major Elements to Consider Major Elements to Consider when Selecting an Aggregatorwhen Selecting an Aggregator

DocumentationDocumentation

Interface/Ease in finding data Interface/Ease in finding data

Medium of storage and delivery Medium of storage and delivery

Cost Cost

Customer Help Customer Help

Lease or Purchase?Lease or Purchase?

Major AggregatorsMajor Aggregators

Datastream International Datastream International

Global Insight Global Insight

EIU World DataEIU World Data

Global Financial DatabaseGlobal Financial Database

DatastreamDatastream

Individual Country Individual Country Data – yesData – yes

Sub-national data – Sub-national data – nono

IMF – DOTS – yesIMF – DOTS – yes

IMF – BOPS – noIMF – BOPS – no

IMF – GFS – noIMF – GFS – no

IMF – IFS - yesIMF – IFS - yes

OECD – yesOECD – yes

Forecasts – yesForecasts – yes

Exchange rates – yesExchange rates – yes

Interest rates – yesInterest rates – yes

Platform – client Platform – client basedbased

Documentation – Documentation – Limited extranetLimited extranet

Global Insight (1)Global Insight (1)

Individual Country Individual Country Data – LimitedData – Limited

Sub-national data Sub-national data – for USA– for USA

IMF – DOTS – yesIMF – DOTS – yes

IMF – BOPS – yesIMF – BOPS – yes

IMF – GFS – IMF – GFS – PremiumPremium

IMF – IFS – yesIMF – IFS – yes

OECD – yesOECD – yes

Forecasts – Forecasts – PremiumPremium

Exchange rates – Exchange rates – yesyes

Interest rates – yesInterest rates – yes

Platform – client Platform – client basedbased

Global Insight (2)Global Insight (2)

Documentation – Limited extranet for Documentation – Limited extranet for actual series plus more from source actual series plus more from source for select others (equivalent of a for select others (equivalent of a codebook)codebook)

EIU World DataEIU World Data

Individual Country Individual Country Data – yesData – yes

Sub-national data – Sub-national data – limitedlimited

IMF – DOTS – limitedIMF – DOTS – limited

IMF – BOPS – noIMF – BOPS – no

IMF – GFS – noIMF – GFS – no

IMF – IFS - limitedIMF – IFS - limited

OECD – limitedOECD – limited

Forecasts – yesForecasts – yes

Exchange rates – yesExchange rates – yes

Interest rates – yesInterest rates – yes

Platform – WEBPlatform – WEB

Documentation – Documentation – IncorporatedIncorporated

Global Financial DatabaseGlobal Financial Database

Individual Country Individual Country Data – yesData – yes

Sub-national data – Sub-national data – nono

IMF – DOTS – noIMF – DOTS – no

IMF – BOPS – noIMF – BOPS – no

IMF – GFS – noIMF – GFS – no

IMF – IFS - noIMF – IFS - no

OECD – noOECD – no

Forecasts – noForecasts – no

Exchange rates – yesExchange rates – yes

Interest rates – yesInterest rates – yes

Platform – WEBPlatform – WEB

Documentation – Documentation – Data encyclopediaData encyclopedia

Datastream MetadataDatastream Metadata

Global Insight MetadataGlobal Insight Metadata

EIU Metadata (note: units are EIU Metadata (note: units are denoted next to the actual data)denoted next to the actual data)

Global Financial DatabaseGlobal Financial DatabaseCONSUMER PRICESCONSUMER PRICES

Unless otherwise stated, consumer prices are monthly and based upon Unless otherwise stated, consumer prices are monthly and based upon official governmental data. Only a few governments (such as Australia) still official governmental data. Only a few governments (such as Australia) still report consumer prices on a quarterly rather than a monthly basis. There report consumer prices on a quarterly rather than a monthly basis. There are several cases where breaks in the series occur. For example, many are several cases where breaks in the series occur. For example, many countries have breaks in their CPI indices during World War II, though countries have breaks in their CPI indices during World War II, though where possible we have tried to fill in these gaps with annual data, and even where possible we have tried to fill in these gaps with annual data, and even where no data were available during the war, most governments were able where no data were available during the war, most governments were able to compare prices before and after the war to provide a continuous series. to compare prices before and after the war to provide a continuous series. Also, most of the former Communist countries stopped collecting CPI data Also, most of the former Communist countries stopped collecting CPI data after World War II, but have begun collecting data again, now that capitalism after World War II, but have begun collecting data again, now that capitalism has returned. Any gaps of this nature are explained in each file listing below. has returned. Any gaps of this nature are explained in each file listing below. More and more government statistical offices and central banks are More and more government statistical offices and central banks are publishing their price indices on the Internet allowing us to make the data publishing their price indices on the Internet allowing us to make the data available in a more timely fashion.available in a more timely fashion.The EEC has introduced its Harmoized Index of Consumer Prices (HICP) in The EEC has introduced its Harmoized Index of Consumer Prices (HICP) in order to coordinate the measurment of consumer prices throughout Europe. order to coordinate the measurment of consumer prices throughout Europe. The HICP indices differ from CPI indices primarily in excluding mortgage The HICP indices differ from CPI indices primarily in excluding mortgage costs for private homes.costs for private homes.

Global Financial Database (USA – Global Financial Database (USA – CPI)CPI)

Country: United States of AmericaCountry: United States of AmericaBegins: January 1820Begins: January 1820Base: 1982/84 = 100Base: 1982/84 = 100Source: U.S. Government, Statistical Abstract of the United States Source: U.S. Government, Statistical Abstract of the United States (1820-1874), Carl Snyder, "A New Index of the General Price Level (1820-1874), Carl Snyder, "A New Index of the General Price Level from 1875," from 1875," Journal of the American Statistical AssociationJournal of the American Statistical Association (June (June 1924); Bureau of Labor Statistics (1913-)1924); Bureau of Labor Statistics (1913-)Notes: This index is based a combination of three indices. From Notes: This index is based a combination of three indices. From 1820 through 1874, the annual cost-of-living index calculated by the 1820 through 1874, the annual cost-of-living index calculated by the Federal Reserve Bank is used. From 1875 until 1912, it uses a Federal Reserve Bank is used. From 1875 until 1912, it uses a monthly Index of General Prices calculated by the Federal Reserve monthly Index of General Prices calculated by the Federal Reserve Bank of New York, which was weighted between wholesale Bank of New York, which was weighted between wholesale commodity prices (20%) Wage payments (35%), the Cost of Living commodity prices (20%) Wage payments (35%), the Cost of Living (35%) and Rents (10%). From 1913 on, the Bureau of Labor's (35%) and Rents (10%). From 1913 on, the Bureau of Labor's Consumer Price Index is used. For information on how the prices of Consumer Price Index is used. For information on how the prices of individual goods have changed, see Scott Derks, ed., The Value of individual goods have changed, see Scott Derks, ed., The Value of a Dollar, Lakeville, CT: Grey House Publishing, 1999.a Dollar, Lakeville, CT: Grey House Publishing, 1999.

Global Financial Database (Canada Global Financial Database (Canada – CPI)– CPI)

Country: CanadaCountry: CanadaBegins: January 1910Begins: January 1910Base: 1992 = 100Base: 1992 = 100Source: Dominion Bureau of Statistics, Source: Dominion Bureau of Statistics, Canada Canada YearbookYearbook, Ottawa: Dominion Bureau of , Ottawa: Dominion Bureau of Statistics (1915-1930), League of Nations (1931-Statistics (1915-1930), League of Nations (1931-1945); Statistics Canada, 1945); Statistics Canada, Canadian Statistical Canadian Statistical ReviewReview (1946-) (1946-)Notes: Data are annual for 1910-1914, and Notes: Data are annual for 1910-1914, and quarterly for 1918. All other data are monthly.quarterly for 1918. All other data are monthly.

Global Financial Database (USA – Global Financial Database (USA – Wholesale Prices)Wholesale Prices)

Country: United States of AmericaCountry: United States of AmericaBegins: February 1720Begins: February 1720Base: 1982 = 100Base: 1982 = 100Notes: This is a combination of several indices. Data from 1720 through 1747 are taken from Anne Bezanson, Notes: This is a combination of several indices. Data from 1720 through 1747 are taken from Anne Bezanson, Wholesale prices in Philadelphia, A series of relative monthly prices.Wholesale prices in Philadelphia, A series of relative monthly prices. Philadelphia: University of Pennsylvania Philadelphia: University of Pennsylvania Press, 1936-1937 and 1954. From 1748 until 1912, the index of U.S. Commodity Prices collected by George F. Press, 1936-1937 and 1954. From 1748 until 1912, the index of U.S. Commodity Prices collected by George F. Warren and Frank A. Pearson, Warren and Frank A. Pearson, PricesPrices, New York: John Wiley & Sons, 1933, pp. 11-13 is used. This index used , New York: John Wiley & Sons, 1933, pp. 11-13 is used. This index used eleven groups of commodities including farm products (25-35 items), foods (25-27 items, hides and leather (4-5 eleven groups of commodities including farm products (25-35 items), foods (25-27 items, hides and leather (4-5 items), textiles (8-10 items), fuel and lighting (.5 to 1), house furnishings (1), spirits (3-5), miscellaneous (1.5-3 items), textiles (8-10 items), fuel and lighting (.5 to 1), house furnishings (1), spirits (3-5), miscellaneous (1.5-3 items). The full index is available in CMWPCPIM. items). The full index is available in CMWPCPIM. Beginning in 1913, the Bureau of Labor Statistics' all-commodity price index is used and is continued through Beginning in 1913, the Bureau of Labor Statistics' all-commodity price index is used and is continued through 1947. For 1926 and later years the index was based on 784 commodities. See United States Department of 1947. For 1926 and later years the index was based on 784 commodities. See United States Department of Labor, Bureau of Labor Statistics mimeograph release No. 4313, January 1932. The current index has a base of Labor, Bureau of Labor Statistics mimeograph release No. 4313, January 1932. The current index has a base of 1982 = 100 and uses the All commodities Producer Commodity Price Index. The All-Industrial Producer Price 1982 = 100 and uses the All commodities Producer Commodity Price Index. The All-Industrial Producer Price Index, which begins in 1913, can be found in WPUSAICM. Index, which begins in 1913, can be found in WPUSAICM. The Producer Price Index (PPI) is a family of indexes that measures the average change over time in selling The Producer Price Index (PPI) is a family of indexes that measures the average change over time in selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI), that measure price the seller. This contrasts with other measures, such as the Consumer Price Index (CPI), that measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. There are three main PPI publication structures: sales and excise taxes, and distribution costs. There are three main PPI publication structures: Industry-basedIndustry-based.. The PPI publishes over 500 industry price indexes in combination with over 10,000 specific product line and The PPI publishes over 500 industry price indexes in combination with over 10,000 specific product line and product category sub-indexes. product category sub-indexes. Commodity-basedCommodity-based. The PPI publishes over 3,200 commodity price indexes . The PPI publishes over 3,200 commodity price indexes organized by type of product and end use. organized by type of product and end use. Stage-of-processing basedStage-of-processing based. The PPI publishes aggregate price . The PPI publishes aggregate price indexes organized by commodity-based processing stage. The three stages of processing include Finished indexes organized by commodity-based processing stage. The three stages of processing include Finished Goods; Intermediate Materials, Supplies, and Components; and Crude Materials for Further Processing. Goods; Intermediate Materials, Supplies, and Components; and Crude Materials for Further Processing.

What is missing?What is missing?

Actual definitions.Actual definitions.

International Financial Statistics. Country International Financial Statistics. Country NotesNotes

Balance of Payments ManualBalance of Payments Manual

Government Finance Statistics ManualGovernment Finance Statistics Manual

Guide to Direction of Trade StatisticsGuide to Direction of Trade Statistics

What do we call an item? What do we call an item? (according to IMF – 14a)(according to IMF – 14a)

How much money is in actual circulation (outside How much money is in actual circulation (outside of banks)?of banks)? Japan, UK, Brazil, Canada = Reserve money Japan, UK, Brazil, Canada = Reserve money

of which currency outside DMBs (Deposit of which currency outside DMBs (Deposit Money Banks)Money Banks)

USA = Reserve money of which currency USA = Reserve money of which currency outside banksoutside banks

Euro nations, Switzerland, Sweden = currency Euro nations, Switzerland, Sweden = currency issuedissued

Denmark = Reserve Money of which outside Denmark = Reserve Money of which outside BIsBIs

What do we call an item? What do we call an item?

According to Datastream’s IMF According to Datastream’s IMF “currency in circulation” or “currency “currency in circulation” or “currency outside banks”.outside banks”.

According to Global Insight’s IMF According to Global Insight’s IMF “currency in circulation outside DMB”, “currency in circulation outside DMB”, “currency outside banks”, “currency “currency outside banks”, “currency outside banking institutions”, outside banking institutions”, “currency in circulation”.“currency in circulation”.

What is a DMB?What is a DMB?

Qatar = locally owned commercial Qatar = locally owned commercial banks (including Islamic banks) and banks (including Islamic banks) and branches of foreign banks.branches of foreign banks.

Canada = chartered banksCanada = chartered banks

Georgia = commercial banksGeorgia = commercial banks

Comoros = Banque pour l’industrie et Comoros = Banque pour l’industrie et le commerce-Comoresle commerce-Comores

EIU screenEIU screen

CPI Food – Sri Lanka - DatastreamCPI Food – Sri Lanka - Datastream

LKCPIFODFLKCPIFODF

CPI Food – UK - DatastreamCPI Food – UK - Datastream

UKCHVW..UKCHVW..

What documentation should be What documentation should be provided? (1)provided? (1)

Start dateStart dateFrequency Frequency Update ScheduleUpdate ScheduleFormats available for downloadingFormats available for downloadingUnit of measureUnit of measureScaleScaleAdjustment factors (if any)Adjustment factors (if any)Active/DiscontinuedActive/Discontinued

How we can help the researcherHow we can help the researcher

Talk to vendorsTalk to vendors

Use the collective power of groupsUse the collective power of groups

Provide guides Provide guides

Provide trainingProvide training

Have the actual documentation Have the actual documentation available at a common reference available at a common reference pointpoint

What documentation should be What documentation should be provided? (2)provided? (2)

Conversion Method (if applicable)Conversion Method (if applicable)

SourceSource

Name of analyst for forecastName of analyst for forecast

DefinitionDefinition

Links to old data if discontinued when Links to old data if discontinued when adjustment factors if appropriateadjustment factors if appropriate

Comparability chartsComparability charts