Balance of payments and related statistics: a European perspective - PowerPoint PPT Presentation

Loading...

PPT – Balance of payments and related statistics: a European perspective PowerPoint presentation | free to download - id: 58de21-NzVmN



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Balance of payments and related statistics: a European perspective

Description:

Balance of payments and related statistics: a European perspective Rodrigo Oliveira-Soares Dublin, 23 February 2012 The views expressed are those of the author and do ... – PowerPoint PPT presentation

Number of Views:34
Avg rating:3.0/5.0
Slides: 16
Provided by: csoIeenm
Learn more at: http://www.cso.ie
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Balance of payments and related statistics: a European perspective


1
Balance of payments and related statisticsa
European perspective
  • Rodrigo Oliveira-Soares
  • Dublin, 23 February 2012
  • The views expressed are those of the author and
    do not necessarily reflect those of the ECB.

2
Outline
  • Introduction
  • ECB Monetary policy
  • Monitoring macroeconomic imbalances
  • Macroeconomic oversight
  • Euro area statistics

3
Introduction
  • "a body of methods for making wise decisions in
    the face of uncertainty."
  • Wilson Allen Wallis (19121998),
  • US economist and statistician.

4
Monetary policy of the ECB
5
Monetary policy of the ECB
  • Relationship between balance of payments and
    international investment position

6
Monetary policy of the ECB
  • Euro area as a whole
  • Risks to price stability
  • Flows affecting monetary conditions and exchange
    rate markets
  • Macroeconomic projections
  • Quarterly sector accounts

7
Monetary policy of the ECB
  • Euro area as a whole
  • Balance of payments
  • Monthly
  • Quarterly vs. main counterparts
  • International investment position
  • Quarterly
  • Annual vs. main counterparts
  • Data in public data warehouse
  • http//sdw.ecb.europa.eu/

8
Monitoring of macroeconomic imbalances
Current-account balances, euro-area Member States
(as of GDP) Surplus and deficit countries
Source European Commission
9
Monitoring of macroeconomic imbalances
Source European Commission
10
Monitoring of macroeconomic imbalances
  • Improve EU economic governance
  • Alert mechanism to prevent and
  • correct imbalances.
  • Early warning system based on 10 economic
    indicators of competitiveness, among which
  • Current account balance
  • Net international investment position
  • Export market shares of goods and services

11
Macroeconomic oversight of the financial system
12
Macroeconomic oversight of the financial system
  • Independent EU body
  • reduce systemic risks to financial stability
  • avoid financial distress
  • smooth functioning of the internal market
  • Set of indicators (White Book), including
  • Current account balance
  • Gross external debt
  • Net interest payments

13
Statistics for the euro area as a whole
  • How do we gather statistics?
  • Transactions and positions
  • with non-residents (extra)
  • 17 countries ECB own accounts
  • ECB Guideline and Recommendation
  • Portfolio investment
  • security-by-security
  • centralised database

14
Statistics for the euro area as a whole
  • Implementation of new standards by 2014
  • Timely quarterly statistics
  • Consistency with national accounts
  • Relevance of the
  • international investment position
  • Financial intermediaries
  • Investment fund shares
  • Listed / non-listed equity

15
Thank you for your attention
  • Questions?
About PowerShow.com