The Directorate-General for Economic and Financial Affairs.
Abstract
It has to be kept in mind that there is no general construction principle for a perfect composite leading indicator. It is only possible to optimise the construction of such an indicator with respect to specified demands. In the case of the EU Economic Sentiment Indicator the question is if top priority should be given to the performance of this indicator at the EU - or the euro zone level - or equally also to the performance at the member country level. In the latter case it would be necessary to develop for each individual member country a tailor-made leading indicator and to sum up the national figures to get an optimal EU or euro zone indicator.
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Publisher Info
Paper provided by Commission of the EC, Directorate-General for Economic and Financial Affairs (DG ECFIN) in its series European Economy - Economic Papers with number
151.
Find related papers by JEL classification: E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation
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