Data revisions to national accounts pose a serious challenge to policy decision making. Well-behaved revisions should be unbiased, small and unpredictable. This paper shows that revisions to German national accounts are biased, large and predictable. Moreover, using filtering techniques designed...

This paper presents econometric estimates for the Brazilian aggregate imports over the period 1996-2010. To the best of our knowledge, this is the first paper that uses the Brazilian quarterly national accounts with this goal in mind. Besides estimating a demand equation (canonical model), as it...

This paper investigates the quality of preliminary figures in the Norwegian national accounts. To address the problem of few observations in such analyses, we use some recently developed system tests. Preliminary figures for gross fixed capital formation (investments) under-predict the final...

Benchmarking methods can be used to extrapolate (or 'nowcast') low-frequency benchmarks on the basis of available high-frequency indicators. Quarterly national accounts are a typical example, where a number of monthly and quarterly indicators of economic activity are used to calculate...

Due to the phenomenon of revision, published macroeconomic data can never be regarded as final, because they are subject to continuous change, although the size of the change decreases over time. Our methodology is able to give an estimate of expected future routine revisions, based on the time...

The paper attempts to estimate the monthly components of the nominal GDP in order to obtain the monthly nominal GDP for the Romanian economy. All the quarterly time series are available at current prices since 1994 to 2001. The method is a deterministic algorithm that computes unobserved monthly...

The number and the distribution of non-working days during the year has recently entered the policy debate related to the slow pace of the European economy.The fact that the number of non-working days can affect the quarter to quarter performance of GDP is well known and hardly disputable. It...

Frequent revisions to GDP and its components cause policymakers to face considerable uncertainty about the current state of the economy. In this paper, we provide stylized facts about the magnitude of revisions to the Czech national accounts. Using data over the 2003–2012 period, we find that...

This dissertation consists of two parts. The first part deals with theperformance appraisal of estimation algorithms. The second partfocuses on the application of estimation algorithms to targettracking. Performance appraisal is crucial for understanding,developing and comparing various...

This dissertation consists of two parts. The first part deals with the performance appraisal of estimation algorithms. The second part focuses on the application of estimation algorithms to target tracking. Performance appraisal is crucial for understanding, developing and comparing various...