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KNOWLEDGE FOR POLICY

Competence Centre on Composite Indicators and Scoreboards

Our expertise on statistical methodologies and in developing sound composite indicators provides policy-makers with the ‘big picture’ for informed policy decisions and progress monitoring.

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Webinar: 22 October 2020

"Data Science for Arts and Culture", Vishal Kumar - "Constructing the Eurozone Readiness Index", Szilárd Erhart

webinar
(©EC)

"Data Science for Arts and Culture"

 

Vishal will provide concrete examples of his academic research and how he is using data science techniques in cultural management for cities and governments to measure the economic and social impact of arts and culture in cities. He will provide insights into how he uses data visualization to communicate his findings and tell data driven stories. In particular, Vishal will highlight the importance of storytelling. In order to tell a good data-driven story one needs to understand a few things: Who is the audience? What data does one have? And, what story does one want to tell? Vishal will show his process for making data driven stories, what design principles he follows to communicate his message, and what techniques and technologies he uses to create his visualizations.

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Vishal Kumar

Vishal KumarBartlett Centre for Advanced Spatial Analysis

 


"Constructing the Eurozone Readiness Index"

 

While all EU Member States can join the group's monetary union, the eurozone, some members are far more ready for the adoption and use of the single European currency. Here, we construct a new Monetary Union Readiness Index (MURI) for EU Member States and for candidates of other currency unions. The theoretical framework of the index is built on the economic theory of Optimal Currency Areas and EU regulations such as the Treaty and the Maastricht criteria, and the Regulation on the Macroeconomic Imbalance Procedure. The index measures (i) nominal convergence, (ii) real convergence and (iii) macroeconomic stability. The MURI Index provides an easy to use real-time policy tool to evaluate both candidate and current eurozone members. Hence, it complements, aggregates and communicates key information in annual convergence reports and in official statistics. Our evaluation finds that Austria, Finland, Denmark, Sweden and Germany showed the highest level of compliance with the different eurozone criteria in 2018, while Greece, Cyprus, Romania, Spain, and Italy the least.

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Szilárd Erhart

Szilárd ErhartCompetence Centre of Composite Indicators & Scoreboards (JRC-COIN)