Quantification of qualitative firm-level survey data
Survey data are widely used to provide indicators of economic activity ahead of the publication of official data. This paper proposes an indicator based on a theoretically consistent procedure for quantifying firm-level survey responses that are ordered and categorical. Firms' survey responses are assumed to be triggered by a latent continuous random variable as it crosses thresholds. Breaking tradition these thresholds are not assumed time invariant. An application to firm-level survey data from the Confederation of British Industry shows that the proposed indicator of manufacturing output growth outperforms traditional indicators that assume time-invariant thresholds.
Year of publication: |
2002-05
|
---|---|
Authors: | Weale, Dr Martin ; Mitchell, Dr. James |
Institutions: | National Institute of Economic and Social Research |
Saved in:
freely available
Saved in favorites
Similar items by person
-
A Bayesian Indicator of Manufacturing Output from Qualitative Business Panel Survey Data
Weale, Dr Martin, (2006)
-
Weale, Dr Martin, (2006)
-
Monthly and quarterly GDP estimates for interwar Britain
Weale, Dr Martin, (2009)
- More ...