Historic Swedish Macro Data

 

Dataset

 

 

Sources and Definitions

 

 

This list gives sources for the data and definitions of the variables in swedata.

 

GDP Deflator (Py)

Nominal GDP/Output defined as below.

 

Inflation (Inf)

First differences of logarithms of the GDP Deflator.

 

Nominal GDP (Ynom)

GDP in current factor prices

 

Sources:

1861-1949 Krantz and Nilsson (1975), Table 1.2 col 4

1950-1969 Statistics Sweden, N10 SM8901, Appendix 2-3, Table 3.1, GDP in factor values.

1970-1988 Statistics Sweden, N10 SM8901, Table H1, GDP in factor values.

 

Money Stock (M2)

Central Bank and private bank (until 1903) notes held by the public plus demand and time deposits at Commercial Banks

 

Sources:

1871-1971 Jonung (1975), Appendix A.

1972-1988 Statistical Yearbook, Central Bank of Sweden.

 

Real Money Stock (M2/Py)

Money Stock divided by the GDP deflator.

 

Discount Rate (R)

Central Bank Discount Rate

 

Source:

1861-1988 Statistical Yearbook, Central Bank of Sweden.

 

Interest rate (R2)

Lowest offered interest rate for loans at the commercial bank Skandinaviska Enskilda Banken and its ancestors.

 

Sources:

1867-1911 ”Sammandrag av solidariska enskilda bankers samt aktiebankernas och kreditaktiebolagens uppgifter” , quarterly publication, Statistics Sweden.

1912-1967 ”Statistiska meddelanden serie E, Uppgifter om bankerna”, monthly publication, Statistics Sweden.

1968-1983 “Bankerna”, monthly publication, Statistics Sweden.

1984-1986 “Affärsbankerna”, monthly publication, Statistics Sweden.

 

Real Discount Rate (R-Inf)

Official Discount Rate minus inflation.

 

Real Interest Rate (R2-Inf)

Interest Rate minus inflation.

 

GDP (Y)

Gross Domestic Product in 1985 fixed factor values. From 1950 GDP at current factor values is deflated by the implicit deflator for GDP at market values.

 

Sources:

1861-1949 Krantz and Nilsson (1975), Table 3.1

1950-1979 Statistics Sweden, N10 SM8901, Appendix 2-3, Tables 3.1 and 3.2

1980-1988 Statistics Sweden, N10 SM8901, Tables H:1 and H:2

 

Private Consumption (C)

Private consumption of goods and services at fixed 1985 prices.

 

Sources:

1861-1949 Krantz and Nilsson (1975), Table 2.3.1.

1950-1979 Statistics Sweden, N10 SM8901, Appendix 2-3, Table 3:2

1980-1988 Statistics Sweden, N10 SM8901, H2.

 

Public Consumption (G)

Public consumption of goods and services, state and municipalities deflated with the GDP deflator.

 

Sources:

1861-1949 Krantz and Nilsson (1975), Table 1.1.

1950-1979 Statistics Sweden, N10 SM8901, Appendix 2-3, Table 3:1

1980-1988 Statistics Sweden, N10 SM8901, H1.

 

Investments (I)

Gross domestic capital formation in fixed 1985 prices.

 

Sources:

1861-1949 Krantz and Nilsson (1975), Table 2.2.1.

1950-1979 Statistics Sweden, N10 SM8901, Appendix 2-3, Table 3:2, row 5.

1980-1988 Statistics Sweden, N10 SM8901, Table H2.

 

Exports (X)

Exports of goods and services in fixed 1985 prices.

 

Sources:

1861-1949 Johansson (1967), Table 50 col.14

1950-1979 Statistics Sweden, N10 SM 8901, Appendix 2-3, Table 3:2

1980-1988 Statistics Sweden, N10 SM 8901, Table H2

 

Imports (M)

Imports of goods and services in fixed 1985 prices.

 

Sources:

1861-1949 Johansson (1967), Table 52 col.14

1950-1979 Statistics Sweden, N10 SM 8901, Appendix 2-3, Table 3:2

1980-1988 Statistics Sweden, N10 SM 8901, Table H2

 

Relative Price Private Consumption (Pc/Py)

Private consumption at current prices divided by Private consumption at fixed prices and the GDP deflator

 

Sources for private consumption at current prices:

1861-1949 Krantz and Nilsson (1975), Table 1.1

1950-1979 Statistics Sweden, N10 SM8901, Appendix 2-3, Table 3:1

1980-1988 Statistics Sweden, N10 SM8901, H1.

 

Relative Price Investments (Pi/Py)

Gross fixed capital formation at current prices divided by gross fixed capital formation at fixed prices and the GDP deflator

 

Sources for fixed capital formation at current prices:

1861-1949 Krantz and Nilsson (1975), Table 1.1

1950-1979 Statistics Sweden, N10 SM8901, Appendix 2-3, Table 3:1

1980-1988 Statistics Sweden, N10 SM8901, H1.

 

Relative Export Prices (Px/Py)

Exports of goods and services at current prices divided by gross exports at fixed prices and the GDP deflator.

 

Sources for exports at current prices:

1861-1949 Johansson (1967), Table 49 col.14

1950-1979 Statistics Sweden, N10 SM 8901, Appendix 2-3, Table 3:1

1980-1988 Statistics Sweden, N10 SM 8901, Table H:1

 

Relative Import Prices (Px/Py)

Imports of goods and services at current prices divided by gross imports at fixed prices and the GDP deflator.

 

Sources for imports at current prices:

1861-1949 Johansson (1967), Table 51 col.14

1950-1979 Statistics Sweden, N10 SM 8901, Appendix 2-3, Table 3:1

1980-1988Statistics Sweden, N10 SM 8901, Table H:1

 

Manufacturing Production (Yman)

Value added in manufacturing and mining in fixed 1985 producer prices.

 

Sources:

1861-1949 Krantz and Nilsson (1975), Table 3.2.1

1950-1962 Statistics Sweden, SM N 1975:98, Table 2A

1963-1969 Statistics Sweden, SM N 1981:2.5, Appendix 4, Table 2A

1970-1988 Statistics Sweden, N10 SM8901, Table H:4

 

Relative Price Manufacturing Production (Pman/Py)

Value added in manufacturing and mining at current producer prices divided by value added in fixed producer prices and the GDP deflator.

 

Sources for value added in current producer prices :

1861-1949 Krantz and Nilsson (1975), Table 1.3

1950-1962 Statistics Sweden, SM N 1975:98, Table 1A

1963-1969 Statistics Sweden, SM N 1981:2.5, Appendix 4, Table 1A

1970-1988 Statistics Sweden, N10 SM8901, Table H:3

 

Wage rate

Wage in current SEK per 100 hours for workers in manufacturing and mining.

 

Sources:

1861-1913 Bagge et al. (1935), Table 26, Column "Social Science Institute"

1914-1919 Bagge et al. (1935), Table 26, Column "Social Board"

1920-1929 Statistics Sweden, Lönestatistisk Årsbok 1929, Table 8

1930-1934 Statistics Sweden, Lönestatistisk Årsbok 1938, Table 24

1935-1938 Statistics Sweden, Lönestatistisk Årsbok 1940, Table 28

1939-1984 Statistics Sweden, Löner 1984, p 58, Table D

1985-1986 Statistics Sweden, ”Löner och sysselsättning inom privat sektor 1988”, p 44, Table D

 

Real Wage (W/Pman)

Wage rate deflated with manufacturing prices.

 

Real Consumer Wage (W/Pc)

Wage rate deflated with private consumption prices.

 

Wage Cost (Wc)

Total wage bill in current values to workers in manufacturing and

mining divided by total number of hours worked by workers.

 

Source for total wage bill:

1870-1949 Jungenfelt (1966), p 122 col 5.

1950-1962 Statistics Sweden, Nr N 1975:98, Appendix 98, Table 4AA

1963-1969 Statistics Sweden, Nr N 1978:8.4, Appendix 5, Table 14.

1970-1979 Statistics Sweden, N10 SM8601, Appendix 5, Table 5:11

1980-1988 Statistics Sweden, N10 SM8901, Appendix 5, Table 5:11

 

Real Wage Cost (Wc/Pman)

Wage cost deflated by manufacturing prices.

 

Worked Hours in Manufacturing (H)

Total number of worked hours by employees in manufacturing and mining. Between 1870 and 1949 constructed by dividing total wage bill (see wage cost) and wage rate defined as above. Between 1950 and 1959 hours by entrepreneurs ("företagare") is included.

 

Sources:

1950-1959 Statistics Sweden, Nr N 1975:98, Appendix 5, Table 98

1960-1962 Statistics Sweden, Nr N 1975:98, Appendix 5, Table 92

1963-1969 Statistics Sweden, N 1978:8.4, Appendix 5, Table 92

1970-1979 Statistics Sweden, N10 SM8601, Appendix 5, Table 5:8

1980-1988 Statistics Sweden, N10 SM8901, Appendix 5, Table 5:8

 

Workers (N)

Average number of workers in manufacturing and mining.

 

Sources:

1861-1919 Bagge et al. (1935), Table 187

1920-1986 “Industri”, yearly publication from Kommerskollegium, later Statistics Sweden. Workers ("arbetare and "övriga arbetare") in sectors 1-8, 1952-1986 groups 1-11 due to reclassification.

 

Hours per Worker

Worked hours in manufacturing and mining divided by average number of workers.

 

Productivity (Pr)

Labor productivity in manufacturing and mining. Value added in manufacturing and mining in fixed 1985 producer prices divided by total number of worked hours.

 

Wage share (Wshare)

Total wage bill (see wage cost) divided by value added in manufacturing and mining in current prices.

 

Unemployment (U)

Yearly average of number of unemployed reported to unemployment insurance. "Arbetslöshetskassor")

 

Sources:

1911-1956 Silenstam (1970)

1956-1969 Historical Statistics, Arbetsmarknadsstyrelsen,Swedish Labor Market Board.

1970-1988 Arbetsmarknadsstyrelsen, Swedish Labor Market Board.

 

Current Account (CA)

Current Account in current values.

 

Sources:

1871-1949 Ohlsson (1969), Table B:1

1950-1962 Statistics Sweden, N 1975:98, Appendix 3, Table 5

1963-1969 Statistics Sweden, N 1981:2.5

1970-1974 Statistics Sweden, N10 SM8601

1975-1988 Statistics Sweden, N10 SM8901, Table VIII,row 8

 

Net Exports (Nx)

Exports minus imports deflated with GDP deflator.

 

Terms of Trade (Tot)

Relative export price divided by relative import price.

 

Foreign Demand (Fy)

Aggregated export weighted GDP in Great Britain, Denmark, Norway, (West) Germany, France and United States. Weights are filtered with a Whittaker-Hendersson filter with lambda=6400 is then applied to alfa and the trend component is used as the weight.

 

Sources for export share:

i

1871-1964 Ohlsson (1969), Table B:9

1965-1988 Statistisk Årsbok, Statistics Sweden

 

Output Uk,Dk, No, Ge, Fr and US;

GDP of Great Britain in fixed values.

 

Sources:

1870-1949 Maddison (1982), Table A6-A8

1950-1985 Summers and Heston (1988)

1986-1988 OECD, National Accounts

 

Non-official references:

Bagge,G. E. Lundberg and I. Svennilsson (1933,1935), Wages in Sweden 1860-1930, vol 1-2, London.

Johansson. Ö. (1967), The Gross Domestic Product of Sweden and its Composition 1861-1955, Stockhom Economic Studies VIII.

JonunG, L., (1975), Studies in the Monetary History of Sweden, dissertation, UCLA

Jungenfelt, K.G. (1966), Löneandelen och den ekonomiska utvecklingen, Uppsala.

Krantz, O. and C-A. Nilsson (1975), Swedish National Produc 1861-1970, Lund

Maddison, A. (1982), Phases of Capitalist Developmet, Oxford University Press.

Ohlsson, L. (1969), “Utrikeshandeln och den ekonomiska tillväxten I Sverige 1871-1966, Industriens Utredningsinstitut, Almquist & Wiksell, Stockholm.

Silenstam, P. (1970), ”Arbetskraftsutbudets utvecklimg i Sverige 1870-1965, Industriens Utredningsinsitut.