R/mis-indicators.R

In graebnerc/competitivenessData: Containes data on competitiveness issues in the EU

# library(data.table)
# library(eurostat)
# library(dplyr)
# library(tidyr)
# library(here)
# library(Hmisc)
source(here::here("R/helper_functions.R"))

#' Setup of the MIS data
#'
#' Prepares the main and auxiliary indicators of the EU Macroeconomic
#'  Imbalance Scoreboard (MIS). Downloads data from Eurostat and saves them
#'  as a labelled `.rds` file. For labeling, the function `Hmisc::label()` is
#'  used.
#'
#'  Sometimes, for the same indicators, multiple values are reported by
#'  Eurostat. The values correspond to different publications of the
#'  Statistical Annex of the imbalance procedure. This function searches for
#'  the resulting duplicates and uses only the most recent value published.
#' @param download_data logical; should the data be downloaded via the Eurostat
#'  API? If not, data will be retrieved from a local file. If the file does
#'  not exist, the function exits with an error.
setup_mis <- function(download_data){
  file_path <- here::here("data-raw/mis_eurostat.csv")
  if (download_data){
    eurostat_code <- "mips_sa"
    mis_dat_raw <- eurostat::get_eurostat(eurostat_code,
                                          time_format = "num",
                                          type = "label")

    mis_dat <- mis_dat_raw
    mis_dat <- dplyr::filter(mis_dat,
                             indic=="Headline indicators" | indic=="Auxiliary indicators")
    mis_dat <- dplyr::mutate(mis_dat,
                             release=readr::parse_number(release)
    )
    mis_dat <- dplyr::arrange(mis_dat, -release)
    mis_dat <- dplyr::distinct(mis_dat, indic_ip, geo, time, .keep_all=TRUE)
    mis_dat <- dplyr::select(mis_dat, -release)
    unique_data <- test_uniqueness(mis_dat, c("indic_ip", "geo", "time"))
    if (unique_data){
      mis_dat_wide <- mis_dat
      mis_dat_wide <- dplyr::select(mis_dat_wide, -indic)
      mis_dat_wide <- tidyr::pivot_wider(mis_dat_wide,
                                         names_from = "indic_ip",
                                         values_from = "values")
      data.table::setDT(mis_dat_wide)

      mis_dat_wide[, iso3c:=countrycode::countrycode(
        geo, "country.name", "iso3c")]
      mis_dat_wide[, geo:=NULL]
      #browser()
      names_labels <- c(
        "iso3c"="iso3c",
        "year"="time",
        "loans"="Gross non-performing loans, domestic and foreign entities - % of gross loans",
        "banking_leverage"="Consolidated banking leverage, domestic and foreign entities (asset-to-equity multiple)",
        "current_account_avg3y"="Current account balance - % of GDP, 3 years average",
        "direct_investment_stocks"="Direct investment in the reporting economy (stocks) - % of GDP",
        "current_account"="Current account balance - % of GDP",
        "export_oecd_5ychange"="Share of OECD export - 5 years % change",
        "lending_borrowing"="Net Lending / Borrowing - % of GDP",
        "direct_investment_flows"="Direct investment in the reporting economy (flows) - % of GDP",
        "trade_balance_energy"="Net trade balance of energy products - % of GDP",
        "REER_42tp_change1y"="Real effective exchange rate, 42 trading partners - 1 year % change",
        "REER_42tp_change3y"="Real effective exchange rate, 42 trading partners - 3 years % change",
        "REER_euro_change3y"="Real effective exchange rate, euro area trading partners - 3 years % change",
        "export_shares_change5y"="Export market shares - 5 years % change",
        "export_shares_change1y"="Export market shares - 1 year % change",
        "export_shares_vol_change1y"="Export market share, volumes - 1 year % change",
        "finance_liabs_ch1y"="Total financial sector liabilities, non-consolidated - 1 year % change",
        "finance_liabs_mio"="Total financial sector liabilities, non-consolidated - million of national currency",
        "debt_gov"="General government sector debt - % of GDP",
        "house_prices_real_ch1y"="House price index, deflated - 1 year % change",
        "house_prices_nom_ch3y"="Nominal house price index - 3 years % change",
        "int_inv_pos"="Net international investment position - % of GDP",
        "int_inv_pos_adj"="Net international investment position excluding non-defaultable instruments - % of GDP",
        "poverty_risk_perc"="People at risk of poverty or social exclusion - % of total population",
        "poverty_risk_ch3y"="People at risk of poverty or social exclusion - % of total population, % point change (t, t-3)",
        "povery_risk_post_transfer_perc"="People at risk of poverty after social transferes - % of total population",
        "povery_risk_post_transfer_perc_ch3y"="People at risk of poverty after social transferes - % of total population, % point change (t, t-3)",
        "deprived_perc"="Severely materially deprived people - % of total population",
        "deprived_perc_ch3y"="Severely materially deprived people - % of total population, % point change (t, t-3)",
        "low_work_perc"="People living in households with very low work Intensity - % of population aged 0-59",
        "low_work_perc_ch3y"="People living in households with very low work intensity - % of population aged 0-59, % point change (t, t-3)",
        "ulc_ch3y"="Nominal unit labour cost index - 3 years % change",
        "ulc_ch1y"="Nominal unit labour cost index - 1 year % change",
        "ulc_perf_eu_ch10y"="Unit labour cost performance relative to euro area - 10 years % change",
        "activity_rate_perc"="Activity rate (15-64 years) - % of the total population of the same age group",
        "activity_rate_perc_ch3y"="Activity rate (15-64 years) - % point change (t, t-3)",
        "unemp_long_perc"="Long-term unemployment rate - % of active population in the same age group",
        "unemp_long_perc_ch3y"="Long-term unemployment rate - % of active population in the same age group, % point change (t, t-3)",
        "unemp_youth_perc"="Youth unemployment rate - % of active population in the same age group",
        "unemp_youth_ch3y"="Youth unemployment rate - % of active population in the same age group, % point change (t, t-3)",
        "neet_youth_perc"="Young people neither in employment nor in education and training - % of total population",
        "neet_youth_perc_ch3y"="Young people neither in employment nor in education and training - % of total population, % point change (t, t-3)",
        "gdp_real_ch1y"="Real gross domestic product (GDP) - 1 year % change",
        "cap_formation"="Gross fixed capital formation - % of GDP",
        "tot_ch5y"="Terms of trade - 5 years % change",
        "construction"="Residential construction - % of GDP",
        "employment_ch1y"="Employment - 1 year % change",
        "productitivy_labor"="Labour productivity - 1 year % change",
        "credit_priv_flow"="Private sector credit flow, consolidated - % of GDP",
        "debt_priv"="Private sector debt, consolidated - % of GDP",
        "debt_households"="Household debt, consolidated including Non-profit institutions serving households - % of GDP",
        "rd_exp"="Gross domestic expenditure on R&D - % of GDP",
        "unemp_avg3y"="Unemployment rate - 3 years average",
        "unemp_rate" = "Unemployment rate - %",
        "finance_debt_to_equity"="Financial sector leverage (debt-to-equity) - %",
        "debt_external"="Net external debt - % of GDP",
        "ulc_ch10y"="Nominal unit labour cost index - 10 years % change",
        "debt_priv_perc"="Private sector debt, non-consolidated - % of GDP",
        "credit_flow_priv"="Private sector credit flow, non-consolidated - % of GDP"
      )

      data.table::setnames(mis_dat_wide,
                           old = unname(names_labels),
                           new = names(names_labels), skip_absent = F)

      Hmisc::label(mis_dat_wide) = as.list(
        names_labels[match(names(mis_dat_wide), names(names_labels))])

      saveRDS(mis_dat_wide, file = here::here("data-raw/mis-indicators.rds"))
    } else{
      stop("MIS data not unique. Please check manually!")
    }
  } else{
    if (file.exists(here::here("data-raw/mis-indicators.rds"))){
      mis_dat_wide <- readRDS(here::here("data-raw/mis-indicators.rds"))
    } else{
      stop("Data does not exist locally. Download with `download_data=TRUE`.")
    }
  }
  return(mis_dat_wide)
}