Evaluating the Macro-Representativeness of a Firm-Level Database: An Application for the Spanish Economy

30 Pages Posted: 5 Mar 2018

See all articles by Miguel Almunia

Miguel Almunia

CUNEF

David Lopez Rodriguez

Banco de España

Enrique Moral-Benito

Banco de España; Universidad Carlos III de Madrid

Date Written: March 2, 2018

Abstract

The availability of a firm-level database that represents the productive sector of an economy at the aggregate level is a necessary condition to undertake both reliable policy analysis and economic research in multiple areas. In this paper, we document the construction of a new representative firm-level dataset for Spain using detailed micro-level information provided by firms to the Spanish Commercial Registry and the Bank of Spain. A comparison with National Accounts figures serves to illustrate that the new micro-dataset is able to replicate the growth rates of output, employment and wage bill of the private sector. Using official statistics from the National Institute of Statistics (INE), we show that the resulting dataset covers more than 80% of firms registered in the census over the years 2000-2013 and, more importantly, the resulting dataset replicates the firm size distribution of the Spanish non-financial market economy. The same representativeness analysis is done for the manufacturing sector indicating that this sector is particularly well-represented in the dataset.

Keywords: firm data, firm size distributions, macroeconomic aggregates

JEL Classification: C81, E01, L11

Suggested Citation

Almunia, Miguel and Lopez Rodriguez, David and Moral-Benito, Enrique, Evaluating the Macro-Representativeness of a Firm-Level Database: An Application for the Spanish Economy (March 2, 2018). Banco de Espana Ocassional Paper No. 1802. Available at SSRN: https://ssrn.com/abstract=3132982 or http://dx.doi.org/10.2139/ssrn.3132982

Miguel Almunia (Contact Author)

CUNEF ( email )

Serrano Anguita 9
Madrid, Madrid 28004
Spain

HOME PAGE: http://www.miguelalmunia.eu

David Lopez Rodriguez

Banco de España ( email )

Alcala 48
Madrid, 28014
Spain

HOME PAGE: http://sites.google.com/site/davidlopezrodriguezphd/home

Enrique Moral-Benito

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Universidad Carlos III de Madrid ( email )

CL. de Madrid 126
Madrid, Madrid 28903
Spain

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