Difference between revisions of "Total Economy Database"

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==Summary==
 
==Summary==
 +
 +
==Glossary==
 +
 +
Various acronyms and terms are used in the Total Economy Database spreadsheets and documentation. Since there seems to be no unified place for these on the Conference Board website, we collect them here.
 +
 +
{| class="sortable wikitable"
 +
|-
 +
! Term !! Expansion !! Meaning !! Examples
 +
|-
 +
| EKS || Eltetö–Köves–Szulc<ref>{{cite web |url=http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.423.3946&rep=rep1&type=pdf |title=Understanding PPPs and PPP-based national accounts |first1=Angus |last1=Deaton |first2=Alan |last2=Heston |date=November 2009 |accessdate=October 21, 2017 |archiveurl=https://web.archive.org/web/20171021193202/http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.423.3946&rep=rep1&type=pdf |archivedate=October 21, 2017 |dead-url=no}}</ref><ref>{{cite web |url=https://stats.oecd.org/glossary/detail.asp?ID=5525 |author=OECD Statistics Directorate |title=OECD Glossary of Statistical Terms - EKS method Definition |accessdate=October 21, 2017 |quote=A multilateral method developed by O. Elteto, P. Koves and B. Szulc [Schultz] that computes the nth root of the product of all possible Fisher indexes between n countries. It has been used at the detailed heading level to obtain heading parities, and also at the GDP level. EKS has the properties of base-country invariance and transitivity. }}</ref> ||
 +
|-
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| ICT ||
 +
|-
 +
| GK || Geary&ndash;Khamis ||
 +
|-
 +
| LP || Labor productivity ||
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|-
 +
| EMP || Employment || Just a shortened form of "employment", used in some sheet names. || N/A
 +
|-
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| XR || Exchange rate
 +
|-
 +
| Original || N/A ||
 +
|-
 +
| Adjusted || N/A ||
 +
|-
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| gr || Growth ||
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|-
 +
| TFP || Total Factor Productivity ||
 +
|}
  
 
==Versions==
 
==Versions==
Line 129: Line 158:
  
 
==Data description==
 
==Data description==
 +
 +
=== Data dimensions and metrics ===
 +
 +
The data presented in the Total Economy Database are a partial function where:
 +
 +
* The inputs (the dimensions) are region (country or aggregate region) and year.
 +
* The metrics include:
 +
** Population
 +
** GDP
 +
** GDP per capita
 +
** Total annual hours worked
 +
 +
====Year dimension====
 +
 +
Each spreadsheet has a year range that it covers. The start year is 1950, 1980, or 1990 in most cases, and the end year is the publication year or 1&ndash;2 years prior to publication. Even if a year is covered in the spreadsheet, some values may be missing depending on the region and metric.
 +
 +
====Region dimension====
 +
 +
The region dimension includes most modern countries. For China, there are "official" and "alternative" versions. For regional aggregates spreadsheets, a "Country / Region" is given, usually with a broader region than just a country (e.g. "Latin America", "Middle East & North Africa", "Europe", "{{W|EU-15}}", "OECD").
 +
 +
====Other information====
 +
 +
At least one spreadsheet uses italics, but I forgot which one and for what meaning.
  
 
==Data sources==
 
==Data sources==
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The "Global Economy" experts listed on the Conference Board website are also possible.<ref>{{cite web |url=https://www.conference-board.org/about/index.cfm?id=1976 |title=Our Experts: Bringing your issues into focus |accessdate=October 21, 2017}}</ref> Bart van Ark in particular has ties to the University of Groningen.
 
The "Global Economy" experts listed on the Conference Board website are also possible.<ref>{{cite web |url=https://www.conference-board.org/about/index.cfm?id=1976 |title=Our Experts: Bringing your issues into focus |accessdate=October 21, 2017}}</ref> Bart van Ark in particular has ties to the University of Groningen.
 +
 +
A press release lists Bart van Ark as a contact.<ref>{{cite web |url=https://www.conference-board.org/press/pressdetail.cfm?pressid=7081 |title=Global Productivity: Decade-Long Decline Comes to a Halt |date=May 17, 2017 |accessdate=October 21, 2017}}</ref>
  
 
Wikipedia [[wikipedia:The Conference Board|lists]] 250 employees for the Conference Board (but does not give a citation), which might be useful in determining an upper bound of the person-hours spent preparing the database per year.
 
Wikipedia [[wikipedia:The Conference Board|lists]] 250 employees for the Conference Board (but does not give a citation), which might be useful in determining an upper bound of the person-hours spent preparing the database per year.
Line 155: Line 209:
 
! Person !! Affiliation !! Qualification !! Opinion
 
! Person !! Affiliation !! Qualification !! Opinion
 
|-
 
|-
| [[Paul Krugman]]<ref>{{cite web |url=https://krugman.blogs.nytimes.com/2013/04/26/debt-and-growth-data/ |author=Paul Krugman |date=April 26, 2013 |title=Debt and Growth Data |publisher=Paul Krugman Blog |accessdate=October 20, 2017}}</ref> || New York Times || Economist, columnist || Calls it "the easy source for 1950 onwards" for obtaining GDP data, and cites the database several times in blog posts<ref>{{cite web |url=https://www.google.com/search?q=%22Total%20Economy%20Database%22%20site%3Akrugman.blogs.nytimes.com |title="Total Economy Database" <nowiki>site:krugman.blogs.nytimes.com</nowiki> |website=Google Search |accessdate=October 20, 2017}}</ref>
+
| [[Paul Krugman]]<ref>{{cite web |url=https://krugman.blogs.nytimes.com/2013/04/26/debt-and-growth-data/ |author=Paul Krugman |date=April 26, 2013 |title=Debt and Growth Data |publisher=Paul Krugman Blog |accessdate=October 20, 2017}}</ref> || ''New York Times'' || Economist, columnist || Calls it "the easy source for 1950 onwards" for obtaining GDP data, and cites the database several times in blog posts<ref>{{cite web |url=https://www.google.com/search?q=%22Total%20Economy%20Database%22%20site%3Akrugman.blogs.nytimes.com |title="Total Economy Database" <nowiki>site:krugman.blogs.nytimes.com</nowiki> |website=Google Search |accessdate=October 20, 2017}}</ref>
 +
|-
 +
| Martin Wolf<ref>{{cite web |url=https://www.ft.com/content/cd1c369c-84c7-11e6-8897-2359a58ac7a5 |title=Economic ills of the UK extend well beyond Brexit |date=September 29, 2016 |publisher=[[wikipedia:Financial Times|Financial Times]] |author=Martin Wolf |accessdate=October 21, 2017}}</ref> || ''Financial Times'' || Economics commentator<ref>{{cite web |url=https://www.ft.com/comment/columnists/martin-wolf |title=Martin Wolf |publisher=[[wikipedia:Financial Times|Financial Times]] |accessdate=October 21, 2017}}</ref> || Calls the database "invaluable".
 +
|-
 +
| Max Roser<ref>{{cite web |url=https://ourworldindata.org/economic-growth#data-sources |publisher=Our World in Data |title=Economic Growth § Data Sources |year=2017 |accessdate=October 21, 2017}}</ref> || ''Our World in Data'' || Economist || Lists the database as one of the data sources for GDP.
 +
|-
 +
| Lots of folks<ref>{{cite web|url = https://www.mckinsey.com/global-themes/americas/a-tale-of-two-mexicos|title = A tale of two Mexicos: Growth and prosperity in a two-speed economy|last = Bolio|first = Eduardo|last2 = Remes|first2 = Jaana|last3 = Lajous|first3 = Tomás|last4 = Manyika|first4 = James|last5 = Ramirez|first5 = Eugenia|last6 = Rossé|first6 = Morten|publisher = [[McKinsey & Company]]}}</ref> || [[McKinsey & Company]] || Consultants, maybe with economics specialization || Useful (and hence used) "for country productivity numbers, which can be compared across nations going back to 1950."
 +
|-
 +
| Brink Lindsey<ref>{{cite web|url = https://object.cato.org/sites/cato.org/files/pubs/pdf/pa737_web_1.pdf|title = Why Growth is Getting Harder|last = Lindsey|first = Brink|publisher = [[Cato Institute]]}}</ref> || [[Cato Institute]] || Think tank researcher with interest in growth economics || Useful for comparing annual growth in real GDP per capita between the periods 1973 to 1990 and 1990 to 2007.
 
|}
 
|}
  

Latest revision as of 23:02, 21 October 2017

The Total Economy Database describes itself as "a comprehensive database with annual data covering GDP, population, employment, hours, labor quality, capital services, labor productivity, and Total Factor Productivity for 123 countries in the world".[1]

Summary

Glossary

Various acronyms and terms are used in the Total Economy Database spreadsheets and documentation. Since there seems to be no unified place for these on the Conference Board website, we collect them here.

Term Expansion Meaning Examples
EKS Eltetö–Köves–Szulc[2][3]
ICT
GK Geary–Khamis
LP Labor productivity
EMP Employment Just a shortened form of "employment", used in some sheet names. N/A
XR Exchange rate
Original N/A
Adjusted N/A
gr Growth
TFP Total Factor Productivity

Versions

As of October 2017, there have been nine releases of the Total Economy Database. Each release of the database comes in the form of two or three spreadsheets (and sometimes release notes and supplementary data files). These are "Output, Labor, and Labor Productivity", "Growth Accounting and Total Factor Productivity", and "Regional Aggregates". The following spreadsheets are listed in the archive, available through the "Data" page, or available on the Internet Archive:[4][5][6]

Spreadsheet Publication date/version Years covered
Output, Labor, and Labor Productivity Country Details January 2010 1950–2009
Growth Accounting and Total Factor Productivity Country Details January 2010 1980–2008
Regional Aggregates January 2010 1990–2010
Output, Labor, and Labor Productivity January 2011 1950–2010
Growth Accounting and Total Factor Productivity January 2011 1990–2009
Regional Aggregates January 2011 1990–2011
Output, Labor, and Labor Productivity January 2012 1950–2011
Growth Accounting and Total Factor Productivity January 2012 1990–2011
Regional Aggregates January 2012 1990–2012
Output, Labor, and Labor Productivity January 2013 1950–2012
Growth Accounting and Total Factor Productivity January 2013 1990–2012
Regional Aggregates January 2013 1990–2013
Output, Labor, and Labor Productivity January 2014 1950–2013
Growth Accounting and Total Factor Productivity January 2014 1990–2013
Regional Aggregates January 2014 1990–2014
Output, Labor, and Labor Productivity May 2015 1950–2015
Growth Accounting and Total Factor Productivity May 2015 1990–2014
Regional Aggregates May 2015 1990–2015
Output, Labor, and Labor Productivity September 2015 1950–2015
Growth Accounting and Total Factor Productivity September 2015 1990–2014
Output, Labor, and Labor Productivity May 2016 1950–2016
Regional Aggregates May 2016 1990–2016
Output, Labor, and Labor Productivity November 2016 1950–2016
Growth Accounting and Total Factor Productivity November 2016 1995–2015
Regional Aggregates November 2016 1990–2016
Output, Labor, and Labor Productivity May 2017 1950–2017
Growth Accounting and Total Factor Productivity May 2017 1990–2016
Regional Aggregates May 2017 1990–2017

The Conference Board claims the Total Economy Database began in the early 1990s and ownership transferred to the Conference Board in 2007,[7] so there are likely older spreadsheets that are no longer available online.

Devec database

All versions of the Total Economy Database available on the Conference Board website as of October 2017 have been imported into the devec database.[8]

In the devec database, use name = 'Total Economy Database' to find releases of the Total Economy Database:

mysql> select shortname,release_date,version from datasets
    -> where name = 'Total Economy Database';
+----------------+--------------+----------------+
| shortname      | release_date | version        |
+----------------+--------------+----------------+
| ted201705ollp  | 2017-05-01   | May 2017       |
| ted201705gatfp | 2017-05-01   | May 2017       |
| ted201705ra    | 2017-05-01   | May 2017       |
| ted201611ollp  | 2016-11-01   | November 2016  |
| ted201611gatfp | 2016-11-01   | November 2016  |
| ted201611ra    | 2016-11-01   | November 2016  |
| ted201605ollp  | 2016-05-01   | May 2016       |
| ted201605ra    | 2016-05-01   | May 2016       |
| ted201509ollp  | 2015-09-01   | September 2015 |
| ted201509gatfp | 2015-09-01   | September 2015 |
| ted201505ollp  | 2015-05-01   | May 2015       |
| ted201505gatfp | 2015-05-01   | May 2015       |
| ted201505ra    | 2015-05-01   | May 2015       |
| ted201401ollp  | 2014-01-01   | January 2014   |
| ted201401gatfp | 2014-01-01   | January 2014   |
| ted201401ra    | 2014-01-01   | January 2014   |
| ted201301ollp  | 2013-01-01   | January 2013   |
| ted201301gatfp | 2013-01-01   | January 2013   |
| ted201301ra    | 2013-01-01   | January 2013   |
| ted201201ollp  | 2012-01-01   | January 2012   |
| ted201201gatfp | 2012-01-01   | January 2012   |
| ted201201ra    | 2012-01-01   | January 2012   |
| ted201101ollp  | 2011-01-01   | January 2011   |
| ted201101gatfp | 2011-01-01   | January 2011   |
| ted201101ra    | 2011-01-01   | January 2011   |
+----------------+--------------+----------------+
25 rows in set (0.01 sec)

Here is a sample query that uses the shortnames in order to avoid typing the full database URL:

mysql> select metric,year,value from data where
    -> database_url in (
    ->    select url from datasets where shortname = 'ted201705ollp'
    -> ) and region = 'Algeria' limit 5;
+--------------------+------+----------------------+
| metric             | year | value                |
+--------------------+------+----------------------+
| GDP EKS (adjusted) | 1950 | 46727.00000000000000 |
| GDP EKS (adjusted) | 1951 | 47054.00000000000000 |
| GDP EKS (adjusted) | 1952 | 49156.00000000000000 |
| GDP EKS (adjusted) | 1953 | 50231.00000000000000 |
| GDP EKS (adjusted) | 1954 | 53175.00000000000000 |
+--------------------+------+----------------------+
5 rows in set (0.19 sec)

Data description

Data dimensions and metrics

The data presented in the Total Economy Database are a partial function where:

  • The inputs (the dimensions) are region (country or aggregate region) and year.
  • The metrics include:
    • Population
    • GDP
    • GDP per capita
    • Total annual hours worked

Year dimension

Each spreadsheet has a year range that it covers. The start year is 1950, 1980, or 1990 in most cases, and the end year is the publication year or 1–2 years prior to publication. Even if a year is covered in the spreadsheet, some values may be missing depending on the region and metric.

Region dimension

The region dimension includes most modern countries. For China, there are "official" and "alternative" versions. For regional aggregates spreadsheets, a "Country / Region" is given, usually with a broader region than just a country (e.g. "Latin America", "Middle East & North Africa", "Europe", "EU-15", "OECD").

Other information

At least one spreadsheet uses italics, but I forgot which one and for what meaning.

Data sources

[9]

Methods of estimation

People

The Total Economy Database section of the Conference Board website does not list the names of the people who work on the database, nor does it make any acknowledgments other than for the data sources it uses.

Perhaps the authors of [10] have something to do with TED.

From the biography for Klaas de Vries: "De Vries is part of the productivity and growth research team and manages various database revisions and updates, such as the annual update of the Total Economy Database™, which covers indicators that measure the current and historical performance of labor and capital productivity for over 120 countries."[11]

Abdul A. Erumban is listed as a contact on the TED part of the Conference Board website.

The "Global Economy" experts listed on the Conference Board website are also possible.[12] Bart van Ark in particular has ties to the University of Groningen.

A press release lists Bart van Ark as a contact.[13]

Wikipedia lists 250 employees for the Conference Board (but does not give a citation), which might be useful in determining an upper bound of the person-hours spent preparing the database per year.

Reception

Person Affiliation Qualification Opinion
Paul Krugman[14] New York Times Economist, columnist Calls it "the easy source for 1950 onwards" for obtaining GDP data, and cites the database several times in blog posts[15]
Martin Wolf[16] Financial Times Economics commentator[17] Calls the database "invaluable".
Max Roser[18] Our World in Data Economist Lists the database as one of the data sources for GDP.
Lots of folks[19] McKinsey & Company Consultants, maybe with economics specialization Useful (and hence used) "for country productivity numbers, which can be compared across nations going back to 1950."
Brink Lindsey[20] Cato Institute Think tank researcher with interest in growth economics Useful for comparing annual growth in real GDP per capita between the periods 1973 to 1990 and 1990 to 2007.

Usage in debates

example

See also

External links

References

  1. "About the Total Economy Database". Retrieved October 17, 2017. 
  2. Deaton, Angus; Heston, Alan (November 2009). "Understanding PPPs and PPP-based national accounts". Archived from the original on October 21, 2017. Retrieved October 21, 2017. 
  3. OECD Statistics Directorate. "OECD Glossary of Statistical Terms - EKS method Definition". Retrieved October 21, 2017. A multilateral method developed by O. Elteto, P. Koves and B. Szulc [Schultz] that computes the nth root of the product of all possible Fisher indexes between n countries. It has been used at the detailed heading level to obtain heading parities, and also at the GDP level. EKS has the properties of base-country invariance and transitivity. 
  4. "Total Economy Database Archive". Retrieved October 17, 2017. 
  5. "Total Economy Database Data". Retrieved October 18, 2017. 
  6. "The Conference Board Total Economy Database". The Conference Board. Archived from the original on July 8, 2010. 
  7. "About the Total Economy Database". Retrieved October 21, 2017. TED was developed by the Groningen Growth and Development Centre (University of Groningen, The Netherlands) in the early 1990s, and starting in the late 1990s, it was produced in partnership with The Conference Board. As of 2007, the database was transferred from the University of Groningen to The Conference Board, which has maintained and extended the database since then. 
  8. "riceissa/total-economy-database". GitHub. Retrieved October 20, 2017. 
  9. "Sources and Methods used to construct the Total Economy Database". Retrieved October 18, 2017. 
  10. Chen, Vivian; Gupta, Abhay; Therrien, Andre; Levanon, Gad; van Ark, Bart. "Recent Productivity Developments in the World Economy: An Overview from The Conference Board Total Economy Database" (PDF). Retrieved October 21, 2017. 
  11. "Klaas de Vries". Retrieved October 21, 2017. 
  12. "Our Experts: Bringing your issues into focus". Retrieved October 21, 2017. 
  13. "Global Productivity: Decade-Long Decline Comes to a Halt". May 17, 2017. Retrieved October 21, 2017. 
  14. Paul Krugman (April 26, 2013). "Debt and Growth Data". Paul Krugman Blog. Retrieved October 20, 2017. 
  15. ""Total Economy Database" site:krugman.blogs.nytimes.com". Google Search. Retrieved October 20, 2017. 
  16. Martin Wolf (September 29, 2016). "Economic ills of the UK extend well beyond Brexit". Financial Times. Retrieved October 21, 2017. 
  17. "Martin Wolf". Financial Times. Retrieved October 21, 2017. 
  18. "Economic Growth § Data Sources". Our World in Data. 2017. Retrieved October 21, 2017. 
  19. Bolio, Eduardo; Remes, Jaana; Lajous, Tomás; Manyika, James; Ramirez, Eugenia; Rossé, Morten. "A tale of two Mexicos: Growth and prosperity in a two-speed economy". McKinsey & Company. 
  20. Lindsey, Brink. "Why Growth is Getting Harder" (PDF). Cato Institute.