Description of methods and sources for Albania - INSTAT

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IPA 2009 Multi-beneficiary StatisticalCooperation ProgrammeWhere:I => price indexP => pricet => yeari => quarterThis formula is used in all indexes’ series to produce those in base year 2005=100.Consumers’ Price Index (CPI) covers the entire Albanian territory and productweights are different for each region. The Consumers’ Price Index of Albania is aLaspeyres type index.It0iWhere:tI => price index0PiPt ; iQ0 ; iP Q P *P Q P Q P0 ; i 0 ; i t ; i0 ; i 0 ; i i0 ; i 0 ; i 0 ; iit ; i => price of item i in period tPt ; i => price of item i in period 0Q => price of item i in period 00 ;iProducer’s Price Index (PPI) is weighted together to give index numbers for each 6-digit product group, and then are aggregated to give index numbers for the 2-digitNACE and so on to give the export, domestic and total PPI. For calculation of indexLaspeyres type is used and is calculated as the case of CPI:For Financial activity as we mentioned above, we use the net interest margin (NIM),which is calculated as:Returns from interests Expenditures on interestsNIM= average assets that yield returns average assets that yield returns18.2.2 BenchmarkingThe aim of benchmarking is to ensure that the quarterly accounts are consistent withannual accounts. The consistency between annual and quarterly data should apply toboth current and constant price data, where the constant price data are expressed inprices of the same base year as the annual data. It has to be underlined that thebenchmarking alters the original figures, and consequently the volume growth of theaggregates, influencing in this way the chain-linked adjusted results. More detailedexplanation can be given in the table below. In column 1, we have a specific year T;in column 2, we have value added for year T for a specific economy activity; in164/236
IPA 2009 Multi-beneficiary StatisticalCooperation Programmecolumn 3, we have four quarterly indicators for year T, which can be differentvolume or value indicators for each activity (for example turnover that is widely usedin our case). After the benchmarking process, we produce respective quarter valueadded which have the characteristics that the sum of four quarter is equal with annual.value added.V T =i4i1Vq66Table 18.1:iBenchmarking Process(1)Year(2)AnnualValue Added(3)Quarter(4)Quarterindicator(5)QuarterValue Added(6)Sum of 4QuartersTq 1 Iq 1 Vq 1i4Tq 2 Iq 2 Vq 2T V T VqiTq 3 Iq 3 Vq 3i1Tq 4 Iq 4 Vq 4It is necessary to mention that this process is based on Proportional Denton Methodwhich eliminates the step problem. The step problem arises because ofdiscontinuousness between years and is more evident in comparisons between thefirst quarters and the fourth quarter. Proportional Denton Method from the other sideeliminates this problem by smooth changes from one quarter to the next one. Itminimizes the sum of squared differences of the relative adjustments of twoneighboring quarters.A numerical example is given in Annex I, Tab I.1.18.2.3 Seasonal adjustmentOne of the major characteristics and issues of quarterly national accounts isseasonality. This can be achieved in two ways:Direct and indirect seasonal adjustmentThe level at which a series is seasonally adjusted is important since it has thepotential to affect the quality of that seasonally adjusted series. The individualcomponent series of the main economic variables can be seasonally adjusted andthen summed to derive totals. This is called an indirect seasonal adjustment.Alternatively, the main economic variables can be seasonally adjusted at the totallevel, independently of the seasonal adjustment of their components. The adjustmentof the total of an aggregate series is called a direct seasonal adjustment. The indirectapproach has the advantage of retaining additivity but this applies only to the currentprice series. Although the indirect approach conceptually provides additivity forvolume series, additivity is lost by chain-linking.165/236
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Description of methods and sources for Albania - INSTAT

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