Grey Areas of LFS Employment Calculation

Lakatos, Judit and Váradi, Rita (2008) Grey Areas of LFS Employment Calculation. Hungarian Statistical Review, 86 (SN12). pp. 27-44. ISSN 0039-0690

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Abstract

Quarterly national accounts due to their timeliness constitute a central instrument for shortterm economic analysis, monitoring, forecasting and at the same time play a vital role for economic and monetary policy makers. Earlier, Hungarian quarterly GDP on production side was compiled by an indicator method (volume projection) following the UK practice, that is to say, available indicators were used to extrapolate the value added series. Later on, ECB (European Central Bank), Eurostat and also EU regulations expressed a strong need for quarterly sector accounts and current price GDP figures from the EU members and the accession countries (EC–ECB [2000], ECOFIN [2005]; Official Journal… [2005]) . At the end of 2006, Hungary introduced full current price quarterly estimations – namely developed the current price approach on production side – based on statistical and administrative data sources. Therefore I found it important to share some of its methodological aspects.

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