Editorial
¾ The 12th Euroindicators Working Group: focus on Principal European Economic Indicators (PEEIs) and methodological projects...... 2
Highlights
¾ Euro-IND statistical news...... 4 ¾ Insight on: World forecasts ...... 9 ¾ Insight on: Paul Samuelson (1915 –2009) ...... 11
Newsfront
¾ News from the Member States ...... 15 ¾ Forthcoming events...... 17 ¾ Cool tools and sites: Statistical publishers ...... 20 ¾ Webtrends...... 26 ¾ Contact us...... 26
Newsletter – November/December 2009 1 Editorial
¾ The 12th Euroindicators Working Group: focus on Principal European Economic Indicators (PEEIs) and methodological projects
By Justyna Gniadzik
th rd th The 12 Euroindicators Working Group was held on the 3 and 4 December 2009. The working group brings together Eurostat and Commission staff (DG ECFIN) with experts from the European Central Bank (ECB), central banks, statistical offices, and international organisations such as the OECD, in order to have a complete picture from producers and users. It is in charge of coordinating dissemination, production and methodological developments related to infra-annual statistics, especially PEEIs.
The 2009 working group has been the occasion to present and discuss several activities linked to Euroindicators and PEEIs and to business cycle statistical analysis, together with planned actions for 2010. The focus has been on activities aiming to reinforce Euroindicators quality monitoring and relevant methodological projects on several topics such as flash estimates and the construction of a euro area monthly indicator of economic activity.
PEEIs' visibility is one of the main concerns of the Euro-indicators team, which is performing several activities in order to maintain and improve the Euro-indicators special topic of Eurostat website. In particular, 2009 has been characterized by the consolidation of the PEEIs webpage and the preparation of new quality profiles for PEEIs and a draft of a quality report (which will be soon available online) as well as by the implementation of Euro-indicators metadata in a new Euro-SDMX metadata structure.
Another important initiatives fostering PEEIs visibility which have been performed in 2009 were: a regular production of the new online version of the Eurostatistics publication with a constant care to its content and presentation, preparation of several selected readings, finalisation of a PEEIs statistical guide, a new version of Business Cycle Clock, drafting of the Frequently Asked Questions, preparatory work on the extension of the statistical content of the PEEIs page. Moreover the investigating of the most suitable ways to use the new potentiality of Eurostat website and of Statistics Explained to increase the usefulness and visibility of PEEIs has been performed.
The work of the Euro-indicators team in 2009 was also dedicated to several methodological projects in the context of eurotrend activities. One of the main chapter has been that of historical data and revisions; a big investment has been made in the finalization of the cleaning up exercise of the daily snapshots of the Euro-IND database in order to create a Euro-IND historical database, which is now ready for implementation and Eurostat is currently analysing technical aspects for its integration in the dissemination environment. More methodological projects were undergoing in 2009 concerning statistical business cycle analysis of the euro area, PEEIs back-calculations, turning point dating and detection, flash estimates for some PEEIs, and the definition of a methodology for the estimation of a monthly indicator of economic activity.
Newsletter – November/December 2009 2
Eurostat have been very active in 2009 in the context of the two seminars organised by the UNSD in Ottawa and in Scheveningen to discuss the content and coverage of Principal Global Indicators (PGI) and various aspects related to the early monitoring of the economic situation. Unit D5 has been involved in the preparation of several documents for those seminars concerning a glossary for flash estimates, the behaviour of alternative methods for flash estimates in different cyclical phases, a monthly assessment of euro area business cycle analysis by means of coincident indicators, and an overview of Eurostat activities in the field of a timely detection of economic signals. Main outcomes of all these activities were presented during the WG meeting and widely appreciated.
One of the fields of methodological analysis well progressing in 2009 was that of seasonal adjustment. The presented follow up of the implementation of ESS guidelines on seasonal adjustment were widely appreciated by the Working Group. A valuable feedback from the workshop on the implementation of the ESS guidelines on seasonal adjustment was also presented to the WG participants.
Quality remains one of the main concerns of Euroindicators. The evolution of quality criteria applied to the Euro-IND database in the last year was shown; further analysis on improvement of existing measures (proxies of quality criteria) was done in 2009 and the implementation of the enhanced monitoring will be effective during 2010. PEEIs monitoring is also in the pipeline with the set of quality profiles on PEEIs ongoing and the new PEEIs quality report. A draft report covering the availability, accuracy and timeliness dimensions was presented and discussed.
Euroindicators team has played an active role in the improvement of Demetra software for seasonal adjustment and in the definition of an implementation strategy for a new ESS tool for seasonal adjustment which should replace Demetra in the future. A new improved version of a tool for seasonal adjustment with many enhanced facilities and the strategy for seasonal adjustment tool development were presented and widely appreciated by the Working Group.
The meeting was also the occasion for some Member States to present their recent achievements: Denmark presented the dynamically updated publications on Statistics Denmark’s homepage, Netherlands - the new developments in monitoring the Dutch business cycle and Italy - a methodology for the production of monthly figures from the quarterly Labour Force Survey data. The WG recognised the relevance of national practices' presentations as an important issue of interchange between countries. Member States were encouraged to present national practices during the Working Group meetings in the future.
The meeting ended with a session on news from data production units – Short-term Business Statistics on Introducing NACE rev 2 in EU Short-term Business Statistics and from Labour Market on Methodology for the calculation of monthly unemployment rates.
For further information please consult the Euro-indicators/PEEIs website.
Newsletter – November/December 2009 3
Highlights
¾ Euro-IND statistical news
Balance of Payments
EU27 current account deficit 33.3 bn euro; 14.2 bn euro surplus on trade in services The EU27 external current account recorded a deficit of 33.3 billion euro in the third quarter of 2009, compared with a deficit of 72.6 bn in the third quarter of 2008 and a deficit of 49.2 bn in the second quarter of 2009. In the third quarter of 2009, the EU27 external balance of trade in services recorded a surplus of 14.2 bn euro, compared with a surplus of 20.1 bn in the third quarter of 2008 and a surplus of 17.5 bn in the second quarter of 2009. These provisional data, issued by Eurostat, the Statistical Office of the European Communities, will be subject to revision. First estimate for the third quarter of 2009 – News release N°178/2009 – 11 December 2009 Consumer prices
Euro area annual inflation up to 0.5%; EU up to 1.0% Euro area annual inflation was 0.5% in November 2009, up from -0.1% in October. A year earlier the rate was 2.1%. Monthly inflation was 0.1% in November 2009. EU annual inflation was 1.0% in November 2009, up from 0.5% in October. A year earlier the rate was 2.8%. Monthly inflation was 0.2% in November 2009. These figures come from Eurostat, the Statistical Office of the European Communities. Inflation in the EU Member States In November 2009, the lowest annual rates were observed in Ireland (-2.8%), Estonia (- 2.1%) and Latvia (-1.4%), and the highest in Hungary (5.2%), Romania (4.6%) and Poland (3.8%). Compared with October 2009, annual inflation fell in one Member State, remained stable in three and rose in twenty-three. The lowest 12-month averages up to November 2009 were registered in Ireland (-1.4%), Portugal (-0.8%) and Spain (-0.2%), and the highest in Romania (5.7%), Lithuania (4.8%) and Latvia (4.2%). Euro area The main components with the highest annual rates in November 2009 were alcohol & tobacco (4.5%), miscellaneous goods & services (2.2%) and education (1.6%), while the lowest annual rates were observed for food (-1.2%), housing (-1.0%) and communications (- 0.7%). Concerning the detailed sub-indices, tobacco (+0.13 percentage points), fuels for transport (+0.12) and rents (+0.08) had the largest upward impacts on the headline rate, while gas (-0.30), heating oil (-0.11), milk, cheese & eggs and cars (-0.09 each) had the biggest downward impacts. The main components with the highest monthly rates were transport (0.7%), alcohol & tobacco (0.5%) and clothing (0.4%), while the lowest were communications (-0.5%), Newsletter – November/December 2009 4 recreation & culture and hotels & restaurants (-0.4% each). In particular, fuels for transport (+0.12 percentage points), heating oil, tobacco and vegetables (+0.02 each) had the largest upward impacts, while accommodation services (-0.05), package holidays (-0.04), air transport (-0.03) and telecommunications (-0.02) had the biggest downward impacts. November 2009 – News release N°183/2009 – 16 December 2009
External trade Euro area external trade surplus 8.8 bn euro; 3.8 bn euro deficit for EU27 The first estimate for the euro area (EA16) trade balance with the rest of the world in October 2009 gave a 8.8 bn euro surplus, compared with -1.2 bn in October 2008. The September 2009 balance was +0.9 bn, compared with -6.0 bn in September 2008. In October 2009 compared with September 2009, seasonally adjusted exports fell by 0.2% and imports by 2.2%. The first estimate for the October 2009 extra-EU27 trade balance was a 3.8 bn euro deficit, compared with -18.3 bn in October 2008. In September 2009 the balance was -11.1 bn, compared with -24.5 bn in September 2008. In October 2009 compared with September 2009, seasonally adjusted exports rose by 0.2%, while imports fell by 1.0%. These data are released by Eurostat, the Statistical Office of the European Communities. EU27 January-September 2009 detailed results The EU27 deficit decreased for energy (-172.4 bn euro in January-September 2009 compared with -293.7 bn in January-September 2008) and for raw materials (-14.1 bn compared with - 31.8 bn). The surplus fell for machinery and vehicles (+77.0 bn compared with +115.3 bn), but rose for chemicals (+58.8 bn compared with +56.8 bn). EU27 trade flows with all of its major partners fell. The largest decreases were recorded for exports to Russia (-40% in January-September 2009 compared with January-September 2008), Turkey (-27%), Brazil (-23%), South Korea (-22%) and the USA (-20%), and for imports from Russia (-42%), Norway (-30%), Japan and Brazil (both -28%) and Turkey (- 26%). The smallest falls were observed for exports to China (-1%) and imports from Switzerland (-8%). The EU27 trade surplus fell with the USA (+30.7 bn euro in January-September 2009 compared with +48.9 bn in January-September 2008) and Switzerland (+10.1 bn compared with +13.6 bn). The EU27 trade deficit decreased with China (-99.1 bn compared with -120.4 bn), Russia (-34.6 bn compared with -61.2 bn), Norway (-24.6 bn compared with -40.5 bn) and Japan (-14.9 bn compared with -25.8 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+91.7 bn euro in January-September 2009), followed by Ireland (+29.7 bn), the Netherlands (+27.9 bn) and Belgium (+11.0 bn). The United Kingdom (-69.9 bn) registered the largest deficit, followed by France (-38.6 bn), Spain (-36.8 bn), Greece (-21.6 bn) and Portugal (-13.5 bn). October 2009 – News release N°187/2009 – 18 December 2009
Industry, commerce and services Industrial production down by 0.6% in euro area; Down by 0.7% in EU27
Newsletter – November/December 2009 5
In October 2009 compared with September 2009, seasonally adjusted industrial production fell by 0.6% in the euro area (EA16) and by 0.7% in the EU27. In September production increased by 0.2% and 0.1% respectively. In October 2009 compared with October 2008, industrial production declined by 11.1% in the euro area and by 10.2% in the EU27. These estimates are released by Eurostat, the Statistical Office of the European Communities. October 2009 compared with September 2009 – News release N°179/2009 – 14 December 2009 Construction output down by 0.6% in the euro area; Down by 0.4% in the EU27 In the construction sector, seasonally adjusted production decreased by 0.6% in the euro area (EA16) and by 0.4% in the EU27 in October 2009, compared with the previous month. In September, production fell by 0.8% and 0.5% respectively. Compared with October 2008, output in October 2009 dropped by 7.7% in the euro area and by 6.9% in the EU27. These first estimates are released by Eurostat, the Statistical Office of the European Communities. October 2009 compared with September 2009 – News release N°185/2009 – 17 December 2009 Volume of retail trade remained stable in euro area; Up by 0.3% in EU27 In October 2009, compared with September 2009, the volume of retail trade remained stable in the euro area (EA16) and rose by 0.3% in the EU27. In September retail trade fell by 0.5% and 0.3% respectively. In October 2009, compared with October 2008, the retail sales index decreased by 1.9% in the euro area and by 0.9% in the EU27. Monthly changes In October 2009, compared with September 2009, “Food, drinks and tobacco” declined by 0.3% in the euro area and remained stable in the EU27. The non food sector grew by 0.3% and 0.7% respectively. Among the Member States for which data are available, total retail trade rose in eleven and fell in six. The highest increases were observed in Lithuania (+1.9%), Portugal (+1.7%) and Poland (+1.6%), and the largest decreases in Romania (-1.9%), Slovakia (-1.7%) and Latvia (-1.3%). Annual changes In October 2009, compared with October 2008, “Food, drinks and tobacco” fell by 1.6% in the euro area and by 0.8% in the EU27. The non food sector decreased by 1.3% in the euro area, but rose by 0.1% in the EU27. Among the Member States for which data are available, total retail trade rose in five and fell in twelve. The highest increases were observed in Belgium (+4.4%), Sweden (+4.1%) and Poland (+3.9%), and the largest decreases in Latvia (-29.1%), Lithuania (-24.7%) and Estonia (-18.6%). These first estimates come from Eurostat, the Statistical Office of the European Communities. Newsletter – November/December 2009 6
October 2009 compared with September 2009 – News release N°172/2009 – 3 December 2009 Industrial producer prices up by 0.2% in both euro area and EU27 In October 2009 compared with September 2009, the industrial producer price index rose by 0.2% in both the euro area (EA16) and the EU27. In September, prices fell by 0.4% in both zones. In October 2009 compared with October 2008, industrial producer prices dropped by 6.7% in the euro area and by 5.8% in the EU27. These figures come from Eurostat, the Statistical Office of the European Communities. October 2009 compared with September 2009 – News release N°171/2009 – 2 December 2009
Labour Market
Euro area unemployment rate stable at 9.8%; EU27 up to 9.3% The euro area (EA16) seasonally-adjusted unemployment rate was 9.8% in October 2009, the same as in September. It was 7.9% in October 2008. The EU27 unemployment rate was 9.3% in October 2009, compared with 9.2% in September. It was 7.3% in October 2008. Eurostat estimates that 22.510 million men and women in the EU27, of whom 15.567 million were in the euro area, were unemployed in October 2009. Compared with September, the number of persons unemployed increased by 258 000 in the EU27 and by 134 000 in the euro area. Compared with October 2008, unemployment went up by 5.002 million in the EU27 and by 3.149 million in the euro area. These figures are published by Eurostat, the Statistical Office of the European Communities. Among the Member States, the lowest unemployment rates were recorded in the Netherlands (3.7%) and Austria (4.7%), and the highest rates in Latvia (20.9%) and Spain (19.3%). Compared with a year ago, all Member States recorded an increase in their unemployment rate. The smallest increases were observed in Germany (7.1% to 7.5%), Austria (4.0% to 4.7%) and Romania (5.7% to 6.4% between the second quarters of 2008 and 2009). The highest increases were registered in Latvia (9.1% to 20.9%) and Lithuania (4.8% to 13.8% between the second quarters of 2008 and 2009). Between October 2008 and October 2009, the unemployment rate for males rose from 7.3% to 9.7% in the euro area and from 7.0% to 9.5% in the EU27. The female unemployment rate increased from 8.5% to 10.0% in the euro area and from 7.6% to 9.2% in the EU27. In October 2009, the youth unemployment rate (under-25s) was 20.6% in the euro area and 20.7% in the EU27. In October 2008 it was 16.2% in both zones. The lowest rate was observed in the Netherlands (7.2%), and the highest rates in Spain (42.9%) and Latvia (33.6% in the third quarter of 2009). In October 2009, the unemployment rate was 10.2% in the USA and 5.1% in Japan. October 2009 – News release N°170/2009 – 1 December 2009
Euro area hourly labour costs rose by 3.2%; EU27 up by 3.1%
Newsletter – November/December 2009 7
Hourly labour costs in the euro area (EA16) rose by 3.2% in the year up to the third quarter of 2009, compared with 4.3% for the previous quarter. In the EU27, the annual rise was 3.1% up to the third quarter of 2009, compared with 4.2% for the previous quarter. The two main components of labour costs are wages & salaries and non-wage costs. In the euro area, wages & salaries per hour worked grew by 3.1% in the year up to the third quarter of 2009, and the non-wage component by 3.6%, compared with 4.2% and 4.6% respectively for the second quarter of 2009. In the EU27, hourly wages & salaries rose by 2.9% and the non-wage component by 3.6%, compared with 4.1% for both components for the previous quarter. The breakdown by economic activity shows that in the euro area hourly labour costs rose by 5.4% in industry, 2.9% in construction and 2.0% in services in the year up to the third quarter of 2009. In the EU27, labour costs per hour grew by 4.9% in industry and by 2.3% in both construction and services. These figures are published by Eurostat, the Statistical Office of the European Communities. Third quarter 2009 compared with third quarter 2008 October 2009 – News release N°181/2009 – 15 December 2009
National accounts
Euro area GDP up by 0.4% and EU27 GDP up by 0.3%; -4.1% and -4.3% respectively compared with the third quarter of 2008 GDP increased by 0.4% in the euro area (EA16) and by 0.3% in the EU27 during the third quarter of 2009, compared with the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the second quarter of 2009, growth rates were -0.2% in the euro area and -0.3% in the EU27. Compared with the third quarter of 2008, seasonally adjusted GDP declined by 4.1% in the euro area and by 4.3% in the EU27, after -4.8% and -5.0% respectively for the previous quarter. Variation in components of GDP During the third quarter of 2009, household final consumption expenditure decreased by 0.2% in both the euro area and the EU27 (after 0.0% and -0.1% respectively in the previous quarter). Investments fell by 0.4% in the euro area and by 0.5% in the EU27 (after -1.7% and -2.5%). Exports increased by 2.9% in the euro area and by 2.4% in the EU27 (after -1.3% and -1.4%). Imports increased by 2.6% in the euro area and by 2.4% in the EU27 (after - 2.9% in both zones). US and Japanese GDP increased In the United States GDP increased by 0.7% during the third quarter of 2009, after -0.2% in the second quarter of 2009. In Japan GDP increased by 1.2% in the third quarter of 2009, after +0.7% in the previous quarter. Compared with the third quarter of 2008, GDP declined by 2.5% in the United States (after - 3.8% in the previous quarter) and by 4.4% in Japan (after -7.1%). First estimates for the second quarter of 2009 – News release N°173/2009 – 3 December 2009
Newsletter – November/December 2009 8
¾ Insight on: World forecasts
The European Commission produces two short-term macro-economic projections a year, one in the spring, the other in autumn. These are called the European Commission’s Spring- Autumn Forecasts. In-between, the Commission produces Interim forecasts with the latest updated estimates.
The forecasts have the following main characteristics: o They contain two-year projections of a comprehensive set of macro-economic variables for the euro area and the Member States of the EU. o They are most relevant for short-term economic policy analysis, where the objective is to take timely action if appropriate. o The major forecasting work is done by country desks which follow a judgmental approach. o Euro area and EU wide data are obtained by aggregation. A separate trade consistency model is used to ensure consistency at the aggregate level.
The latest autumn forecast is already available on DG ECFIN’s web site. According to the European Commission, the EU economy will emerge from recession in the second half of 2009. A relatively strong temporary pick-up is in the cards for the near term, following the improvements in the external environment, financial conditions, as well as the significant fiscal and monetary measures – with a more gradual recovery foreseen in 2010- 2011.
Among the other forecasts that came out is the IMF’s October forecast. The full version is already available.
Below are the main forecasts from the two institutions’ publications, added to these of these of the OECD’s Economic Outlook no. 86 and the ECB’s September projections for the Euro area.
Real GDP growth forecasts: European Union, Euro area, USA and Japan
EU-27Euro area USA Japan
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011
DG ECFIN Autumn Forecast -4.1 0.7 1.6 -4.0 0.7 1.5 -2.5 2.2 2.0 -5.9 1.1 0.4
IMF World Economic Outlook October 2009 - - - -4.2 0.3 - -2.7 1.5 - -5.4 1.7 -
OECD Economic Outlook no. 86 - - - -4.0 0.9 1.7 -2.5 2.2 2.8 -5.3 1.8 2.0
ECB staff macroeconomic projections ----4.4 : -3.8-0.5 : 0.9------
Newsletter – November/December 2009 9
Inflation forecasts: European Union, Euro area, USA and Japan EU-27 Euro area USA Japan
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011
DG ECFIN Autumn Forecast 1.0 1.3 1.6 0.3 1.1 1.5 -0.5 0.8 0.1 -1.2 -0.4 0.3
IMF World Economic Outlook October 2009 - - - 0.3 0.8 - -0.4 1.7 - -1.1 -0.8 -
OECD Economic Outlook no. 86 - - - 0.2 0.9 0.7 -0.4 1.7 1.3 -1.2 -0.9 -0.5
ECB staff macroeconomic projections - - - 0.2 : 0.6 0.8 : 1.6 ------
Unemployment rate forecasts: European Union, Euro area, USA and Japan
EU-27 Euro area USA Japan 2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011
DG ECFIN Autumn Forecast 9.1 10.3 10.2 9.5 10.7 10.9 9.2 10.1 10.2 5.8 6.3 7.0
IMF World Economic Outlook October 2009 - - - 9.9 11.7 - 9.3 10.1 - 5.4 6.1 -
OECD Economic Outlook no. 86 - - - 9.4 10.6 10.8 9.2 9.9 9.1 5.2 5.6 5.4 ECB staff macroeconomic projections ------
DG ECFIN’s latest autumn forecast is freely available at: http://ec.europa.eu/economy_finance/publications/publication16055_en.pdf Information on previous forecasts is available from: http://ec.europa.eu/economy_finance/eu_economic_situation/eu_economic_situation5857_en. htm IMF’s October forecast is available at: http://www.imf.org/external/pubs/ft/weo/2009/02/pdf/text.pdf The OECD’s Economic Outlook no. 86 is available at: http://www.oecd.org/document/18/0,3343,en_2649_33733_20347538_1_1_1_1,00.html The ECB staff macroeconomic projections for the Euro area are available at: http://www.ecb.int/pub/pdf/other/ecbstaffprojections200909en.pdf
Newsletter – November/December 2009 10
¾ Insight on: Paul Samuelson (1915 –2009)
Economist Paul Samuelson, who won a Nobel Prize for his effort to bring mathematical analysis into economics, helped shape tax policy in the Kennedy administration and wrote a textbook read by millions of college students, died on December 13, 2009, at the age of 94.
Early in his career, he developed a mathematical model – the multiplier-accelerator – that described the tendency of market economies to fluctuate and showed how markets magnify the impact of shocks from outside the system. He also provided the mathematics to study the effect of trade on different groups of people; and in a theorem known as Stolper-Samuelson, he and a co-researcher showed that competition from imports of manufactures from underdeveloped countries could drive down the wages of low-paid workers in the developed world. The theory was seized upon by opponents of free trade, yet Samuelson remained firmly opposed to protectionism on the ground that, while free trade can damage the interests of some groups of workers in the short term, overall it raises average living standards. Samuelson also made major contributions to predictive theory in what he called "the correspondence principle". Classical economists had assumed that in stable markets consumers and producers make rational choices to maximise their own interests, but Samuelson examined what would happen if the equilibrium was disturbed by – say – natural disaster, war or technological change. He showed that an understanding of individual responses is vital in predicting overall economic stability. But perhaps his greatest contribution was what he called "the neoclassical synthesis" – the marrying of Keynesian thought to neoclassical economics. The standard 19th-century view was that forces of supply and demand generate equilibrium in the market and that, left to its own devices, the market will adjust to cure unemployment without the need for government intervention. But the Depression of the 1930s led many economists to reject this model and embrace the interventionist theories of JM Keynes. Samuelson proposed that the two strands of theory were not incompatible. The neoclassical model could still be used to analyse economies with near full employment, but when things begin to go wrong the Keynesian model should be used. Though a prolific writer and commentator throughout his life, Samuelson was best known for two early books, The Foundations of Economic Analysis (1941) and his famous textbook Economics. Lengthy and laden with higher mathematics, Foundations showed how different branches of economics could be formalised mathematically, borrowing methodology from other sciences. His second book, Economics, introduced generations of students around the world to the theories of Keynes. Of these students, the most important was John F Kennedy: Samuelson warned the president-elect that the nation was heading into a recession and that he should push through tax cuts to head it off. Though he eventually accepted Samuelson's advice, Kennedy was assassinated before he could implement it and it was left to his successor, Lyndon B Johnson, to put Samuelson's advice into effect.
Newsletter – November/December 2009 11
Paul Anthony Samuelson was born at Gary, Indiana, on May 15 1915, the son of Jewish immigrants from Poland. He left high school at 16 to enter the University of Chicago, and became fascinated by economics. After graduating in 1935 he transferred to Harvard, where he studied under Schumpeter and Leontief, was influenced by Alvin Hansen (the leading American exponent of Keynesian theory). The publication of his dissertation won Samuelson the John Bates Clark Medal of the American Economic Association. He joined the economics faculty at MIT, where he remained for the rest of his life, becoming a full professor in 1966. His decision to write an economics textbook arose out of a perception that even after the 1930s people did not understand the significance of the Keynesian revolution; many American policy-makers regarded Keynes as a Marxist. Samuelson's book, which was written in a lively, readable style and copiously illustrated with charts and diagrams, was a huge success and made him a multi-millionaire. It sold more than four million copies, was translated into 40 languages and is now in its 19th edition. Samuelson was instrumental in raising the MIT's department of economics to a world-class research and teaching institution. He attracted a brilliant group of economists to teach or study there, among them Robert Solow, George Akerlof, Lawrence Klein, Paul Krugman, Franco Modigliani, Robert Merton and Joseph Stiglitz. When, in 1970, Samuelson became the first American to win the Nobel Memorial Prize in economics the Swedish Royal Academy said that he had "rewritten considerable parts of central economic theory and had in several areas achieved results which now rank among the classical theories of economics". Samuelson was awarded the American National Medal of Science by President Bill Clinton in 1996 and served as president of the American Economic Association and the Econometric Society. His memberships and fellowships included the American Academy of Arts and Sciences; the British Academy; the International Economic Association (of which he served as president from 1965 to 1968); the National Academy of Sciences; and the American Association for the Advancement of Science. Major Works of Paul A. Samuelson:
• "Some Aspects of the Pure Theory of Capital", 1937, QJE. • "A Note on Measurement of Utility", 1937, RES. • "A Note on the Pure Theory of Consumer's Behaviour", 1938, Economica. • "Numerical Representation of Ordered Classifications and the Concept of Utility", 1938, RES. • "Interaction between the Multiplier Analysis and the Principle of Acceleration", 1939, RES. • "The Stability of Equilibrium: Comparative statics and dynamics", 1941, Econometrica. • "Constancy of the Marginal Utility of Income", 1942, in Lange et al, editors, Studies in Mathematical Economics. • "The Relation between Hicksian Stability and True Dynamic Stability", 1944, Econometrica. • Foundations of Economic Analysis, 1947. • "Some Implications of Linearity", 1947, Econometrica • "Consumption Theory in Terms of Revealed Preference", 1948, Economica • Economics: An introductory analysis, 1948.
Newsletter – November/December 2009 12
• "International Trade and the Equalisation of Factor Prices", 1948, EJ. • "International Factor-Price Equalisation Once Again", 1949, EJ. • "The Problem of Integrability in Utility Theory", 1950, Economica. • "Probability and the Attempts to Measure Utility", 1950, Economic Review. • "Evaluation of Real National Income", 1950, Oxford EP. • "Abstract of a Theorem Concerning Substitutability in Open Leontief Models", 1951, in Koopmans, editor, Activity Analysis of Production and Allocation. • "Economic Theory and Mathematics: An appraisal", 1952, AER • "Spatial Price Equilibrium and Linear Programming", 1952, AER. • "Prices of Factors and Goods in General Equilibrium", 1953, RES. • "Consumption Theorems in Terms of Overcompensation Rather than Indifference Comparisons", 1953, Economica. • "Balanced Growth under Constant Returns to Scale", with R.M. Solow, 1953, Econometrica. • "Utility, Preference and Probability", 1953, Econometrie. • "The Pure Theory of Public Expenditure", 1954, REStat. • "Diagrammatic Exposition of a Theory of Public Expenditure", 1954, REStat. • "Social Indifference Curves", 1956, QJE. • "A Complete Capital Model Involving Heterogeneous Capital Goods", with R.M. Solow, 1956, QJE. • "Wages and Interest: A modern dissection of Marxian economic models", 1957, AER. • "An Exact Consumption-Loan Model of Interest with or without the Contrivance of Money", 1958, JPE. • Linear Programming and Economic Analysis with R. Dorfman and R.M. Solow, 1958. • "Aspects of Public Expenditure Theory", 1958, REStat. • "Reply to Lerner", 1959, JPE • "Analytical Aspects of Anti-Inflation Policy", with R.M. Solow, 1960. • "Efficient Programs of Capital Accumulation in Terms of the Calculus of Variations", 1960, in Arrow, Karlin and Suppes, editors, Mathematical Models in Social Science. • "Parable and Realism in Capital Theory: The surrogate production function", 1962, RES. • "Proof that Properly Anticipated Prices Fluctuate Randomly", 1965, Industrial Management Review. • "Rational Theory of Warrant Pricing", 1965, Industrial Management Review. • "A Theory of Induced Innovation along Kennedy-Weizsacker Lines", 1965, REStat. • "Using Full Duality to Show that Simultaneously Additive Direct and Indirect Utilities Implies Unitary Price Elasticity of Demand", 1965, Econometrica. • "A Catenary Turnpike Theorem Involving Consumption and the Golden Rule", 1965, AER. • "Economic Forecasting and Science", 1965, Michigan Quarterly Rev (extracts) • "The Non-Switching Theorem is False, with D. Levhari, 1966, QJE. • "A Summing Up", 1966, QJE. • "The Pasinetti Paradox in Neoclassical and More General Models", with F. Modigliani, 1966, RES. • "General Proof that Diversification Pays", 1967, J of Finance and Quantitative Analysis. • "What Classical and Neoclassical Monetary Theory Really Was", 1968, Canadian JE. • "Lifetime Portfolio Selection by Dynamic Stochastic Programming", 1969, REStat. Newsletter – November/December 2009 13
• "The Fundamental Approximation Theorem of Portfolio Analysis in Terms of Means, Variances and Higher Moments", 1970, RES. • "Understanding the Marxian Notion of Exploitation: A summary of the so-called transformation problem between Marxian values and competitive prices", 1971, JEL. • "Unification Theorem for the Two Basic Dualities of Homothetic Demand Theory", 1972, Proceedings of NAS. • "Maximum Principles in Analytical Economics", 1972, AER. • "Marx as a Mathematical economist", 1974, in Horwich and Samuelson, editors, Trade, Stability and Macroeconomics. • "Complementarity: An essay on the 40th Anniversary of the Hicks-Allen Revolution in Demand Theory", 1974, JEL. • "The Canonical Classical Model of Political Economy", 1978, JEL. • Collected Scientific Papers, five volumes, 1966-86. • "Our Wassily: W.W. Leontief (1905-1999)"
Newsletter – November/December 2009 14
Newsfront
¾ News from the Member States This section highlights economic news and statistics in each Member State in the field of infra-annual and business cycle statistics. The information is provided by Member State National Statistics Institutes (NSIs), central banks and research institutes. If you have relevant news that you would like to have included in next months Newsletter please send an e-mail to: [email protected].
France
Educnet - Teaching with information and communication technology The Educnet website is the fruit of collaboration between the Ministry for Education and the INSEE, and enables teachers and students to use online statistics, to adapt them for strictly non-commercial purposes and for teaching, on condition that the source of the information they use is indicated. The Ministry for Education (DT B1) publishes on-line guides to making pedagogical use of this data. More information available at: http://www.educnet.education.fr/en Lithuania
Statistics Lithuania nominated at the European Public Sector Awards 2009 More information available at: http://www.stat.gov.lt/en/ Hungary
The new President of the Hungarian Central Statistical Office is Dr. Pál Belyó. More information available at: http://portal.ksh.hu/portal/page?_pageid=38,119919&_dad=portal&_schema=PORTAL Portugal
Statistics Portugal new Web functionality Statistics Portugal has a new functionality in its web site: the representation of statistical indicators through graphics. More information available at: http://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_base_dados&menuBOUI=13707095 &contexto=bd&selTab=tab2&xlang=en Sweden
New Director General at Statistics Sweden Stefan Lundgren appointed as of 17 December 2009.
Minor methodological adjustment in the CPI The Consumer Price Index Board has decided to make a minor adjustment in the CPI methodology concerning the sub-index for owner-occupied housing.
Newsletter – November/December 2009 15
Nordic statistical database StatNord StatNord’s cross-border statistical database contains comparative data on commuting and migration within and between the three countries, as well as statistics on population, employment and gross pay. More information available at: http://www.scb.se/default____2154.aspx
Newsletter – November/December 2009 16
¾ Forthcoming events
The first date(s) refers to the dates of the event.
January 25-29 5 day course on the cointegrated VAR model: Methodology and applications Bogotá, Colombia Objective and topics The course runs over one week with a course program consisting of four lectures every day. The course book is “The cointegrated VAR model: Methodology and applications” Oxford University Press, by Katarina Juselius. Chapters 1, 2, 3.1-3.3, 4 and 15-22 will not be covered during the course. Since the course is quite demanding participants are encouraged to read all course material before the course start but, if this is not possible, at least Chapters 1,2,3.1-3.3 and 4. Complementary exercises will be handed out for those who believe in learning by doing. The illustrative data used in Prof. Juselius book will also be made available. The economic applications in the book are based on the software packages CATS for RATS and OxMetrics (GiveWin). Who Should Attend The course is designed to attract economists, econometricians, statisticians, mathematicians and academic and policy analysts working in central banks, private banks, government agencies and research institutes. PhD, graduate and advanced undergraduate students are also welcome. The participants are expected to have some basic econometric experience and a theoretical knowledge corresponding to, for example, Johnston and Dinardo (1997) "Econometric Methods", MacGraw-Hill. In particular, participants are expected to have a basic knowledge of time-series analysis. Lecturers: Katarina Juselius and Soren Johansen
January 28 2nd Annual Conference on Hedge Funds: Markets, Liquidity and Fund Managers' Incentives Paris, France Objective and topics Academic sessions and a panel of practitioners will discuss the recent research and the future of the hedge fund industry. Favour is on research on performance measurement, dynamic analysis of hedge fund strategies, capital formation and leverage, demand from institutional and retail clients, liquidity consumption and provision by hedge funds, manager’s discretion of liquidity management, algorithmic trading, secondary market for closed-end funds, return smoothing, fee structure and manager’s risk appetite.
January 28-29 Conference on Hedge Funds Markets, Liquidity and Fund Managers’ Incentives Paris, France Objective and topics Academic sessions and a panel of practitioners will discuss the recent research and the future of the hedge fund industry. This year, we welcome all contributions on hedge funds, but also, more broadly, papers that improve our understanding of how market intermediaries behave, how they affect, and respond to market prices. Newsletter – November/December 2009 17
We favour research on performance measurement, dynamic analysis of hedge fund strategies, capital formation and leverage, demand from institutional and retail clients, liquidity consumption and provision by hedge funds, manager’s discretion of liquidity management, algorithmic trading, secondary market for closed-end funds, return smoothing, fee structure and manager’s risk appetite … We will also welcome papers on new regulations and on the opening of the hedge fund market to new types of investors.
January 28-29 Workshop on Quantitative Finance Palermo, Italy Objective and topics The Workshop is devoted to recent advances in mathematical modeling and numerical methods for quantitative finance. The main aims of the event are: • To facilitate the meeting of people and ideas coming from the university and the financial industry in order to build an academic-practitioner interface. • To present state-of-the-art results and the latest developments in mathematical modeling and numerical methods for financial applications. • To discuss theoretical topics of mathematical finance and their application to current issues facing the industry. Topics include, but are not limited to, the following: • Derivative pricing • Portfolios models • Risk management • High-frequency data analysis • Statistical models and their application to finance • Financial econometrics • Simulation of financial markets
February 1-2 International Research Workshop on the Global Costs of Conflict Berlin, Germany Objective and topics The German Institute for Economic Research (DIW Berlin) and the Households in Conflict Network (HiCN) are organising an international research workshop on calculating the costs of conflict and related themes. The purpose of this workshop is to bring together researchers from different institutes and to compare cutting-edge theoretical, empirical and methodological research on how to calculate the costs of conflict and on related themes.
February 10-11 The impact of FDI on Indian Economy Chennai, India Objective and topics The aim of the conference is to examine the impact of FDI and to evaluate the contributions of foreign direct investment to India which requires investments that will strengthen the infrastructure industries and services that are so essential for future sustainable growth and for the social well-being of the poor and marginalised. This conference hopes to provide an opportunity to indentify the risk involved in FDI and to address the problems arising out of FDI in a pragmatic way.
Newsletter – November/December 2009 18
Open deadlines for papers submission The first date is the deadline for the submission
February 10th Artificial Economics 2010 September 9-10, 2010, Treviso, Italy Call for Papers We invite you to submit your paper to the 6th Edition of the Artificial Economics Symposium. The main aim of the Symposium is to facilitate the meeting of people working on different topics in different fields (mainly Economics, Finance and Computer Science) in order to encourage a structured multi-disciplinary approach to social sciences. Presentations and keynote sessions center around multi-agent model ling, from the viewpoint of both applications and computer-based tools. The event is also open to methodological surveys. Topics include (but are not limited to): • Agent-based Computational Economics • Agent-based Computational Finance • Automated Markets and Trading Agents • Design and Engineering of Economic Systems • Interactions, Emergence and Complexity • Large-Scale Simulations • Methodological Issues • Network and Social Dynamics • Organizations and Management Science The event will last two days in order to favour formal and informal occasions for sharing ideas. With this aim, the final schedule of the Symposium will devote considerable time to discussion. The Programme will offer presentations of papers reviewed and selected by the Programme Committee as well as special sessions by invited keynote speakers.
Newsletter – November/December 2009 19
¾ Cool tools and sites: Statistical publishers
You can find below a not exhaustive list of statistical publishers. *************************************************************************** Ashgate Ashgate publishes more than 700 new books, representing the best academic research and professional practice from around the world. More information available at: http://www.ashgate.com/ *************************************************************************** Cambridge University Press Cambridge University Press is the printing and publishing house of the University of Cambridge. It is an integral part of the University and has similar charitable objectives in advancing knowledge, education, learning, and research. For centuries the Press has extended the research and teaching activities of the University by making them available worldwide, through its printing and publishing of a remarkable range of academic and educational books, journals, examination papers and Bibles. For millions of people around the globe, the publications of the Press represent their only real link with the University of Cambridge. More information available at: http://www.cambridge.org/ *************************************************************************** Kluwer Since 1998, Kluwer Academic Publishers manages all books and journals in science and technology previously published by Chapman and Hall. More information available at: http://www.chapmanhall.com/ *************************************************************************** CRC Press CRC Press publishes professional and technical publications for a variety of communities, including statistics and economics. More information available at: http://www.crcpress.com/ *************************************************************************** Edward Elgar Publishing Edward Elgar publishing was founded in 1986, and is a leading international publisher in economics, finance, business and management and public policy. They have successfully created a prestigious list with over 3000 titles in print, publishing over 200 new books a year. Specializing in research monographs, reference books and upper-level textbooks in a highly focused area, they are able to offer a unique service in terms of editorial, production and worldwide marketing. More information available at: https://www.e-elgar.co.uk/ *************************************************************************** Elsevier Elsevier publishes a wide range of excellent titles within the areas of science, technology and business using many well-known and well-respected imprints including Academic Press, North-Holland, Architectural Press, Butterworth Heinemann, Digital Press, Focal Press, Gulf Professional Publishing, Morgan Kaufmann, and Newnes among others. A world leading, multi-media publisher of scientific, technical and business products and services, their products are for authors, editors, scientists, researchers, faculty, students, professionals, practitioners and librarians. More information available at: http://books.elsevier.com/ ***************************************************************************
Newsletter – November/December 2009 20
Gale Gale, part of Cengage Learning, is a leader in e-research and educational publishing for libraries, schools and businesses. The company creates and maintains more than 600 databases that are published online, in print, as eBooks and in microform. The Gale family of publishing imprints includes such noted reference brands as Macmillan Reference USA, Charles Scribner's Sons and Primary Source Media. More information available at: http://www.gale.cengage.com/about/ *************************************************************************** Harvard University Press Harvard University Press is an independent publisher with close connections, both formal and informal, to Harvard University. Their fundamental mission is to disseminate scholarship (through books, journals, and in the future, electronic media) both within academia and to society at large. More information available at: http://www.hup.harvard.edu/ *************************************************************************** Hodder Arnold With over 100 years of publishing experience, and a member of the progressive Hodder Headline group, Arnold is committed to the publication of high quality books and journals for students, academics and professionals. More information available at: http://www.hodderheadline.co.uk/ *************************************************************************** Holt, Rinehart and Winston Holt, Rinehart and Winston, a Harcourt Classroom Education Company, is based in Austin, Texas. Holt is a recognized leader in secondary educational publishing. Since 1866, they have been in the business of helping teachers teach and students learn, by providing a wide range of instructional materials that include curriculum-based textbooks, CD-ROMs, videodiscs, and other support and reference materials. Two of the most trusted names in grades 6-12 educational publishing - Holt, Rinehart and Winston and McDougal Littell - have joined to become Holt McDougal, a division of Houghton Mifflin Harcourt Publishing Company. More information available at: http://holtmcdougal.hmhco.com/hm/home.htm *************************************************************************** Informaworld Informa plc is the leading provider of specialist information to the global academic & scientific, professional and commercial communities via publishing, events and performance improvement. It is a new and expanding platform, initially hosting the following academic & scientific publications: • All journals from Taylor & Francis, Routledge and Psychology Press • Over 180 Informa Healthcare journals • Selected encyclopedias (the former Dekker encyclopedia collection) from Taylor & Francis and Informa Healthcare • All Taylor & Francis abstract databases • More than 10,000 eBooks from Taylor & Francis, Routledge and Informa Healthcare More information available at: http://www.informaworld.com/smpp/subjecthome~db=refwork *************************************************************************** John Wiley and Sons Ltd. Wiley is a global publisher of print and electronic products, specializing in scientific, technical, and medical books and journals; professional and consumer books and subscription services; and textbooks and other educational materials for undergraduate and graduate
Newsletter – November/December 2009 21 students as well as lifelong learners. Wiley has approximately 22,700 active titles and about 400 journals, and publishes about 2000 new titles in a variety of print and electronic formats each year. The company provides "must-have" content to targeted communities of interest. Wiley's deep reservoir of quality content, constantly replenished, offers a tremendous source of competitive advantage. Technology is making this content more accessible to customers worldwide and is adding value for them by delivering it in interactive and/or fully searchable formats. Approximately 25% of global revenues are currently Web-enabled; they expect to increase that figure to about 40% within the next three years More information available at: http://eu.wiley.com/WileyCDA/ *************************************************************************** Krieger Publishing Krieger Publishing Company is an independent, privately owned book publisher for college level titles, including economics and statistics. More information available at: http://www.krieger-publishing.com/ *************************************************************************** Macmillan Macmillan is one of the largest and best known international publishers in the world. It is characterised by high-quality academic and scholarly, educational, fiction and non-fiction publishing in many forms: from STM and social science journals to serious non-fiction and literary fiction; from educational course materials and dictionaries to college textbooks, academic monographs and reference. Macmillan operates in over seventy countries. The diversity and relative autonomy of the individual companies within the group ensures a vibrancy and local relevance to its publishing in all markets. More information available at: http://www.macmillan.com/ *************************************************************************** Manchester University Press Manchester University Press serves the international academic community and promotes the University of Manchester by the publication of outstanding works of learning and scholarship which both reflect and enhance the University's authority and reputation. More information available at: http://www.manchesteruniversitypress.co.uk/ *************************************************************************** McGraw-Hill Education A global leader in educational materials and professional information, with offices in more than 30 countries and publications in more than 40 languages, the McGraw-Hill Education develops products that influence people's lives, throughout their lives, from preschool through career. And the scope of their operations, the quality of their editorial product, and the pace at which they are developing new media to fulfill their customers' information requirements are increasing. More information available at: http://www.mheducation.com/ *************************************************************************** MIT Press The MIT Press is the only university press in the United States whose list is based in science and technology. They publish about 200 new books a year and over 40 journals and are a major publishing presence in fields as diverse as architecture, social theory, economics, cognitive science, and computational science. More information available at: http://mitpress.mit.edu *************************************************************************** Oxford University Press
Newsletter – November/December 2009 22
Oxford University Press is a department of the University of Oxford. It furthers the University's objective of excellence in research, scholarship, and education by publishing worldwide. It is the world's largest university press. It publishes more than 4,500 new books a year, has a presence in over fifty countries. It has become familiar to millions through a diverse publishing programme that includes scholarly works in all academic disciplines. More information available at: http://www.oup.co.uk/ *************************************************************************** Palgrave Macmillan Palgrave Macmillan is a global academic publisher, serving learning and scholarship in higher education and the professional world. They publish textbooks, journals, monographs, professional and reference works in print and online. Their programme focuses on the Humanities, the Social Sciences and Business. More information available at: http://www.palgrave.com/ *************************************************************************** Pearson Higher Education Pearson is a leader in education publishing with such renowned imprints as Addison-Wesley, Allyn & Bacon, Benjamin Cummings, Longman, Prentice Hall, and many others, Pearson provides quality education solutions in all available media, spanning the post-secondary learning spectrum from college and career training through graduate studies and professional training and development. Pearson Education is part of Pearson, the international media company. Our Higher Education imprints include: Addison-Wesley: one of the world's most respected publishers in computing, economics, finance, mathematics, and statistics. Allyn & Bacon: the market-leader in education, psychology, sociology, communication, social work, anthropology, and criminal justice. Benjamin Cummings: the foremost science publisher in anatomy and physiology, biology, chemistry, health and kinesiology, microbiology, physics, and astronomy. Longman: a rich history of publishing quality materials in English, history, political science, philosophy, and religion. Prentice Hall: the world's largest publisher of academic and reference textbooks, publishing in areas spanning the higher education curriculum. More information available at: http://www.pearsonhighered.com/educator/about_pearsonhighered.page *************************************************************************** Princeton University Press Princeton University Press is an independent publisher with close connections, both formal and informal, to Princeton University. Their fundamental mission is to disseminate scholarship (through books, journals, and in the future, electronic media) both within academia and to society at large. More information available at: http://pup.princeton.edu/ *************************************************************************** Routledge Routledge publishes in the social science and humanities subject areas. It publishes around 1,000 new books each year and has a backlist of over 7,000 titles in print. Routledge has also developed a journal publishing imprint that has particular emphasis on the humanities, social science, business, management and economics subject areas. More information available at: http://www.routledge.com/ *************************************************************************** Stanford University Press
Newsletter – November/December 2009 23
Over the last 75 years, Stanford University Press has established a reputation as one the nation's leading publishers of scholarly books. Their list has won numerous awards and is highly respected throughout the scholarly community as a valuable source of new knowledge, pioneering inquiry, and innovative theories. They are now expanding their activities to become a publisher of books, on-line and multimedia materials for the post-secondary and professional markets. While continuing to serve the needs of their established stakeholders and customers in the humanities and social sciences, they are quickly building new programs in business, law, policy, and education. More information available at: http://www.sup.org/ *************************************************************************** Springer Springer is one of the most renowned scientific publishing companies in the world. Its publications cover subjects ranging from the natural sciences, mathematics, engineering and computer science to medicine and psychology. In the fields of economics and law, Springer offers an increasing number of books in management science. Since the merger with the Dutch scientific house Kluwer Academic Publishers (KAP) in February 2004 the range of products has increased further; it now includes publications on the arts and social sciences. More information available at: www.springer.co.uk *************************************************************************** University of Chicago Press Since its founding in 1891 as one of the three original divisions of the University of Chicago, the Press has embraced as its mission the obligation to disseminate scholarship of the highest standard and to publish serious works that promote education, foster public understanding, and enrich cultural life. Through their books and journals programs, they seek not only to advance scholarly conversation within and across traditional disciplines but, in keeping with the University of Chicago's experimental tradition, to help define new areas of knowledge and intellectual endeavour. In addition to publishing the results of research for communities of scholars, the Press presents innovative scholarship in ways that inform and engage general readers. More information available at: http://www.press.uchicago.edu/ *************************************************************************** University of Michigan Press The University of Michigan Press was founded in 1930 as a publisher of books dedicated to imparting important scholarly research. They publish books of wide-ranging interest, including political science, economics and statistics. More information available at: http://www.press.umich.edu/ *************************************************************************** Wiley-Blackwell Wiley-Blackwell, created in February 2007 by merging Blackwell Publishing with Wiley's Global Scientific, Technical, and Medical business, is now one of the foremost academic and professional publishers and a largest society publisher. With a combined list of more than 1,400 scholarly peer-reviewed journals and an extensive collection of books with global appeal, this new business sets the standard for publishing in the life and physical sciences, medicine and allied health, engineering, humanities and social sciences. More information available at: http://eu.wiley.com/WileyCDA/Brand/id-28.html *************************************************************************** World Scientific Publishing World Scientific’s mission is to develop the highest quality knowledge-based products and services for the academic, scientific, professional, research and student communities worldwide.
Newsletter – November/December 2009 24
More information available at: http://www.wspc.com/ ***************************************************************************
Newsletter – November/December 2009 25
¾ Webtrends
Due to the implementation of the new Eurostat portal and the dedicated Euroindicators section, the statistics on the consultation of different products, as well as the Webtrends publication, are temporarily unavailable.
¾ Contact us The statistical newsletter is published by: Eurostat unit D5 – Key Indicators for European Policies Contact point: [email protected] Feedback: Readers are invited to send their comments, questions or contributions to the contact point.
Newsletter – November/December 2009 26