Bengt Assarsson
APP
Sveriges riksbank
2004-01-27
Here the updating of the data base
in BASMOD is described. Data is mainly collected from the data base of Nigem (National Institute
of Economic and Social Research,
All variables are described in the Data appendix??. Also, when browsing through the home page a short description of the definition of each variable can be obtained by moving the mouse over the variable name, like for SEY??.
This procedure presupposes that the user has a Nigem license. The purpose is to copy data from Nigem to the BASMOD workfile in Eviews.
Start by opening the Extgem module in Nigem.
Niesr EXTGEM
In Extgem open the most recent GEM database, which runs from 1991:1 and onwards. In Extgem you choose to export data to Excel Import format. First click on Tools and then choose Load Extraction File. First choose the extraction file
BM1
and then repeat successively for BM2-BM4. These files have the extension .EXT and should normally be located in the folder C:\NIGEM\V403, where V403 refer to the most recent version of Nigem. When variables in Excel Import Format are exported four new files with extension .XLZ are created. These files can be viewed in Microsoft Excel. To copy from Excel to Eviews you open the relevant files simultaneously.
Open the Workfile with BASMOD. Open a group with the same variables that appear in the .XLZ file just created in Niesr Extgem. This is done by opening successively the programs BM1.PRG – BM4.PRG in Eviews. Running BM1.PRG opens the same variables that appear in BM1.XLZ. Then click on Edit and move the cursor to the appropriate cell. Mark the data to be copied in the Excel sheet. Paste into the sheet in Eviews. Repeat the procedure for all four files
.ext extraction file for Extgem in Nigem
.xlz Excel sheet created by Extgem
.prg program to open variables sheet in Eviews
Having completed the copying of data from Nigem to the BASMOD Workfile in Eviews some variable transformations must be done. This is facilitated by a single program
data transformation.prg
Open the program and Run it.
Voilà!
The procedure takes 20-30 minutes for an average user. You should check the transformation by running a new forecast with the model. Eventually you should re-estimate some (or all) equations of the model.
Variables in alphabetical order
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Domestic variables from Nigem’s database |
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Variable |
Source |
Description |
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SEBPT |
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Balance of payments transfers |
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SEBUD |
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Public budget surplus |
|
SEC |
|
Private consumption expenditure |
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SECBR |
|
Current balance, percent of GDP |
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SECBV |
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Current balance, bill SEK |
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SECED |
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Private consumption deflator, 2000=100 |
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SECOMPA |
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Compensation to employed, incl taxes |
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SECTAX |
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Corporate taxes |
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SEDEBT |
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Public debt, 2000 prices |
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SEDEBTP |
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Public debt, current prices |
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SEDS, SEDS2 |
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Changes in inventories, 2000 prices |
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SEE |
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Employment, mill |
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SEEE |
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Employment, employed, mill |
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SEEFEX |
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Effective exchange rate, 2000=?? |
|
SEEQP |
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Equity price index, Affärsvärldens generalindex, ?? |
|
SEGA |
|
Gross foreign assets, bill SEK |
|
SEGBR |
|
Government budget surplus, percent of GDP |
|
SEGBRT |
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Government budget surplus, percent of GDP, target |
|
SEGC |
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Government consumption expenditure, mill SEK, 2000 prices |
|
SEGDR |
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Government budget deficit, percent of GDP |
|
SEGDRM |
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Government budget deficit, percent of GDP, target |
|
SEGI |
|
Government investment expenditure |
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SEGIP |
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Government interest payments |
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SEGL |
|
Gross liabilities |
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SEHOURS |
|
Hours worked, mean, mill |
|
SEINF |
|
Expected inflation rate, percent, adaptive expectations |
|
SEIP |
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Industrial production, 2000=?? |
|
SEIPDC |
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Interest payments, domestic credit |
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SEIPDD |
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Interest payments, domestic debet |
|
SEKG |
|
Public capital stock, 2000 prices |
|
SEKP |
|
Private capital stock, 2000 prices |
|
SELF |
|
Labour force, mill |
|
SELIABS |
|
Liabilities, mill SEK |
|
SELR |
|
Long run interest rate, 10-year |
|
SEMGI |
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Imports of goods, index, 2000=100 |
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SEMGV |
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Imports of goods, current prices, mill SEK |
|
SEMISC |
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Miscellaneous financial assets, mill SEK |
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SEMSER |
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Imports of services, current prices, mill SEK |
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SEMTAX |
|
Miscellaneous taxes, current prices, mill SEK |
|
SEMVOL |
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Imports of goods and services, 2000 prices, mill SEK |
|
SENA |
|
Net foreign assets, mill SEK |
|
SENOM |
|
GDP, current prices |
|
SENOMT |
|
GDP, current prices, target |
|
SENW |
|
Financial net wealth, current prices, mill SEK |
|
SEOPI |
|
Other personal income, current prices, mill SEK |
|
SEPI |
|
Personal income, current prices, mill SEK |
|
SEPMA |
|
Import price index, general, 2000=100?? |
|
SEPMG |
|
Import price index, manufactured goods, 2000=100?? |
|
SEPSD |
|
Private sector demand, 2000=100?? |
|
SEPSI |
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Private sector investment, 2000=100?? |
|
SEPXA |
|
Export price index, general, 2000=100?? |
|
SEPXG |
|
Export price index, manufactured goods, 2000=100?? |
|
SEPY |
|
GDP deflator, 2000=100 |
|
SER3M |
|
Short run interest rate, 3-month |
|
SEREFEX |
|
Real effective exchange rate, 2000=100?? |
|
SEROR |
|
Rate of return, private investments |
|
SERPM |
|
Relative import price index, 2000=100?? |
|
SERPX |
|
Relative export price index, 2000=100?? |
|
SERULT |
|
Trend in relative unit labour cost, 2000=100?? |
|
SERX |
|
Nominal exchange rate, SEK/USD |
|
SES |
|
Foreign export markets, index, 2000=100?? |
|
SETAX |
|
Personal sector taxes, payroll/income taxes, current prices, mill SEK |
|
SETFE |
|
Total final expenditure, SEY+SEM, 2000 prices |
|
SETRAN |
|
Personal sector transfer payments, mill SEK |
|
SEU |
|
Unemployment rate, standardized by OECD, percent |
|
SEULT |
|
Trend in unit labour cost |
|
SEUSER |
|
User cost of capital, ?? |
|
SEXGI |
|
Exports of goods, index, 2000=100?? |
|
SEXGV |
|
Exports of goods, current prices, mill SEK?? |
|
SEXSER |
|
Exports of services, current prices, mill SEK |
|
SEXVOL |
|
Exports of goods and services, 2000 prices ?? |
|
SEY |
|
GDP, 2000 prices |
|
Country prefixes |
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AF |
|
Africa less Nigeria, Algeriet and Sydafrika |
|
AN |
|
Australia and New Zealand |
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BG |
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Belgium |
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CH |
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China |
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DE |
|
Developing Europe |
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DK |
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Denmark |
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EURO |
|
Euro/USD exchange rate |
|
FE |
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Far East |
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FN |
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Finland |
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FR |
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France |
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GE |
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Germany |
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GR |
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Greece |
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IR |
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Ireland |
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IT |
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Italy |
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JP |
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Japan |
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LA |
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Latin America |
|
MD |
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Miscellaneous developing countries |
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MX |
|
Mexico |
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NL |
|
Netherlands |
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NW |
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Norway |
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OE |
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Austria |
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OP |
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Oil-producing countries |
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PT |
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Portugal |
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SE |
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SK |
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SP |
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Spain |
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SW |
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Switzerland |
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UK |
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UK |
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US |
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USA |
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VG |
|
Visigrad |
|
WD |
|
World |
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Transformed variables |
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