I’m planning to estimate my DSGE model, using nine observable variables, including “World” GDP (excluding euro area).
AWM dataset includes the following variable:
YWRX: “World” Demand, Composite Indicator. Calculated as the weighted sum of “world” GDP and domestic demand net of exports for the euro
area.[log(YWRX) = w(YWR) * log(YWR) + w(FDD-XTR) * log(FDD-XTR), where w(YWR) + w(FDD-XTR) = 1].
Should I use this one?
Data are expressed as follows (csv format): for example 1970q1: 16.168.661.834.363
What are the units? Is variable expressed in real or nominal terms?