amecoData2input {RGAP}

Data for estimation

Description

Computes the necessary input data for the EC output gap estimation on the basis of AMECO data.

Usage

amecoData2input(tslAmeco, alpha = 0.65)

Arguments

tslAmeco

A time series list or a multiple time series object containing AMECO data.

alpha

A number between 0 and 1 indicating the labor share. The default is alpha = 0.65.

Details

The list of time series tslAmeco needs to have the following components:

popw

Population: 15 to 64 years (unit: 1000 persons, code: NPAN)

ur

Unemployment rate, total; Member States: definition EUROSTAT (unit: Percentage of civilian labor force, code: ZUTN)

etd

Employment, persons: total economy (National accounts) (unit: 1000 persons, code: NETN)

et

Employment, persons: all domestic industries (National accounts) (unit: 1000 persons, code: NETD)

eet

Employees, persons: all domestic industries (National accounts) (unit: 1000 persons, code: NWTD)

pconsp

Price deflator private final consumption expenditure (unit: National currency reference year = 100, code: PCPH)

ngdp

Gross domestic product at current prices (unit: bn National currency, code: UVGD)

gdp

Gross domestic product at constant prices (unit: bn National currency, code: OVGD)

l

Total annual hours worked: total economy (unit: millions, code: NLHT)

wtotal

Compensation of employees: total economy (unit: bn National currency, code: UWCD)

nulc

Nominal unit labour costs: total economy (Ratio of compensation per employee to real GDP per person employed.) (unit: National currency reference year = 100, code: PLCD)

k

Net capital stock at constant prices: total economy (unit: bn National currency, code: OKND)

Value

A list of time series containing the same components as the input list tslAmeco and the following additional components:

gdpdefl

Gross domestic product deflator

tfp

Total factor productivity

lfnd

Labor force non-domestic (unit: 1000 persons)

parts

Participation rate

ahours

Average hours worked (unit: hours)

prod

Labor productivity (unit: real output in millions per person)

tot

Terms of trade (pconcp / gdpdefl)

ws

Wage share (unit: compensation per unit of nominal output)

winfl

Wage inflation

rulc

Real unit labor costs

Examples

# load data for Germany
data("gap")
country <- "Germany"
tsListRaw <- gap[[country]]
tsListInput <- amecoData2input(tslAmeco = tsListRaw)