Chart 11 Sectoral shifts and volatility (rescaled)
Actual shares
Shares 1982
Shares 2001
30.00
Belgium
30.00
Germany
30.00
30.00
20.00
20.00
10.00
10.00
10.00
10.00
20.00
0.00
0.00
0.00
0.00
1983 1985 1987 1989 1991 1993 1995 1997 1999 2001
20.00
Netherlands
Italy
30.00
20.00
10.00
20.00
10.00
30.00
20.00
20.00
10.00
30.00
10.00
0.00
0.00
0.00
1983 1985 1987 1989 1991 1993 1995 1997 1999 2001
30.00
0.00
30.00
Finland
30.00
10.00
20.00
10.00
0.00
0.00
1983 1985 1987 1989 1991 1993 1995 1997 1999 2001
20.00
56
ECB
Occasional Paper No. 19
July 2004
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