Statistical Terms Glossary

Consistency refers to logical and numerical coherence.

Checks for determinant relationships, such as parts adding to a
total or “harvested acres” always less than “planted acres” .

An index is said to be consistent in aggregation when the index for some aggregate has the same value whether it is calculated directly in a single operation, without distinguishing its components, or it is calculated in two or more steps by first calculating separate indices, or sub-indices, for its components, or subcomponents, and then aggregating them, the same formula being used at each step.

See nonmaturing, nonredeemable government bond.

Those accounts which are drawn up to reflect the affairs of a group of entities. For example, a ministry or holding company with many different operating agencies subsidiary companies may prepare consolidated accounts reflecting the affairs of the organisation as a whole, as well as accounts for each operating agency/subsidiary.

The debt-service payments and arrears, or debt stock, restructured under a Paris Club rescheduling agreement.

A balance sheet obtained by netting out inter-MFI positions (e.g. inter-MFI loans and deposits) in the aggregated MFI balance sheet. It provides statistical information on the MFI sector’s assets and liabilities vis-à-vis residents of the euro area not belonging to this sector (i.e. general government and other euro area residents) and vis-à-vis non-euro area residents. It is the main statistical source for the calculation of monetary aggregates, and it provides the basis for the regular analysis of the counterparts of M3.

see Consolidated amount

The rate at which the value of a unit of currency destined for consumption falls over time, usually expressed as an annual percentage.

Reporting covering the claims and liabilities of all offices worldwide of the same entity, but excluding positions between offices of the same entity. Offices include head offices, branch offices, and subsidiaries. A consolidated balance sheet refers to a balance sheet grouping of assets and liabilities of a parent company and all its offices, after elimination of all unrealized profits on intra-group trading and of all intra-group balances.

Consolidation is a special kind of cancelling out of flows and stocks; it involves the elimination of those transactions or debtor/creditor relationships which occur between two transactors belonging to the same institutional sector or sub-sector.

Consolidation generally refers to combination or amalgamation of two or more firms into one new firm through the transfer of net assets. The new firm may be specially organized to distinguish it from a merger.

Consolidation (of government debt) is a means of presenting government accounts in which, where a liability of a government-sector agency and institution is held as an asset somewhere else in the government sector.

In Paris Club restructuring agreements, the period in which debt-service payments to be restructured (the “current maturities consolidated”) have fallen or will fall due. The beginning of the consolidation period may precede, coincide with, or come after the date of the Agreed Minute. The standard consolidation period is one year, but sometimes debt payments over a two- or three-year period have been consolidated, corresponding with a multiyear arrangement with the IMF.

A consortium bank refers to a joint venture in which no single owner has a controlling interest

A conspiracy is normally a covert or secret arrangement between competing firms in order to earn higher profits by entering into an agreement to fix prices and restrict output.
The terms combination, conspiracy, agreement and collusion are often used interchangeably.

See: Contestability

A family of price indices that allows for substitution between products. Within an elementary aggregate, the Jevons index is a particular case of a constant elasticity of substitution index. Another case is the Lloyd-Moulton index.

A test that may be used under the axiomatic approach which requires that if the prices remain unchanged between the two periods (that is, the sets of prices are identical) the price index should equal unity.

A test that may be used under the axiomatic approach which requires that if all the quantities remain unchanged (that is, the sets of quantities in both periods are identical) the price index should equal the proportionate change in the value of the aggregate.

See: Economies of scale

Man-made system designed to optimize the physical, chemical, and biological processes of natural wetlands for reducing water pollution.

A firm which undertakes works as part of a construction project by virtue of a contract with a client.

Construction indicators can be divided into two groups. The first comprising permits issued, new orders and work started (based on estimated value, area or numbers upon completion) are indicators of future activity. The second group, comprising work put in place, work in progress and work completed are indicators of work actually done within a given period of time or at a particular point in time.

The main material used in the construction of external sides of walls and it could comprise cleaned stone, stone and concrete, concrete, cement blocks, adobe clay, old stone or other.

The following classification of construction materials is recommended:
1. Burnt clay (bricks, blocks, panels), stone, concrete.
2. Unburnt clay, mud, earth.
3. Wood.
4. Bamboo.
5. Corrugated sheets.
6. Prefabricated units.
7. Other materials.

In broad terms, construction price indices provide measures of changes in the prices of either the inputs to, or outputs of, construction activity. However, terminology used in the context of price indices for construction activity varies between countries.

Work is completed when the building or other structure is physically ready to be occupied or to be put into use.

Other construction comprises all construction projects not predominantly involving the erection of buildings.